May Berkshire Residential Market Snapshot

The May Residential market snapshot shows that inventory was still low at slightly less than 2 months of properties available for sale throughout the Berkshires.  The median home sale price dropped from $340k in April 2022 to $310k in May, which is still a $10k increase from May 2021.  The sale to list price ratio increased from 98.8% in May 2021 to 100.2% this May, also an increase over April.

While we are still in a strong seller’s market due to limited inventory, with interest rates adjusting we expect to see a direct impact on buyers who may need to have their lender re-qualify them, as it is expected their purchase power will be affected.