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© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 1
2015 3rd Quarter Overall Market Commentary January – September Sales Comparison For the first three quarters of the year, real estate sales in Berkshire County continue their overall rise from previous years. At the end of the second quarter of 2015, sale transactions were slower than the previous year, but there was a significant amount of pending inventory. These transactions occurred in the 3rd quarter as hoped, and the market results show strong cumulative gains over the last year. Data reveals improvements of 13% in the number of sales and an 8% increase in the dollar volume transacted. There are currently 166 residential homes marked sale pending (last year at the same time there were 144 homes pending, but last quarter there were 209) and 233 overall sales are awaiting deed transfer.
2010 2011 2012 2013 2014 2015 Commercial
# Sold 14 21 23 19 22 23 $ Sold $3,782,501 $8,922,500 $6,567,243 $11,967,000 $6,775,188 $6,773,400
Condominium # Sold 54 42 51 79 61 93 $ Sold $12,280,586 $14,289,450 $11,405,975 $21,632,155 $16,759,100 $22,948,400
Lots/Land # Sold 64 57 43 74 65 69 $ Sold $7,737,751 $7,269,250 $4,694,200 $10,697,500 $5,135,050 $6,298,379
MultiFamily # Sold 75 65 69 75 78 69 $ Sold $8,445,900 $7,894,229 $7,023,450 $9,921,915 $10,915,250 $8,533,475
Residential # Sold 639 611 723 801 778 882 $ Sold $171,803,573 $159,497,741 $179,225,078 $204,748,531 $208,924,012 $222,603,283
Total # Sold 846 796 909 1048 1004 1136 Total $ Sold $204,050,311 $197,873,170 $208,915,946 $258,967,101 $248,508,600 $267,156,936
580 639 611723
801 778882
300
500
700
900
1100
2009 2010 2011 2012 2013 2014 2015
TOTAL SALES YTD (SEPT 2015 )
Condo & Residential
Sales Strong!
Highest Year-To-Date
Sales Rates Since 2007
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 2
RESIDENTIAL PRICE RANGE REPORT Below is the average number of months it will take to exhaust our current inventory of homes on the market based on 2015 sales rates so far this year January – September. (absorption rate). Pending sales are robust. North and Central county’s hottest residential market is in the $100,000-$150,000 range, with both highest rates of sales and inventory. South County’s highest inventory range is between $500,000-$749,999 but the highest sales range is for homes offered in the $200,000-$300,000 range. Jan-Sept 2015 North Central South
Price Class
Sold
YTD
Act
ive
Pend
ing
Mon
ths
of
Abs
orpt
ion
Sold
YTD
Act
ive
Pend
ing
Mon
ths
of
Abs
orpt
ion
Sold
YTD
Act
ive
Pend
ing
Mon
ths
of
Abs
orpt
ion
$0-$99K 42 51 6 11 53 34 8 6 19 16 1 8
$100K -$149K 51 53 13 9 125 68 14 5 22 30 4 12
$150K -$199K 27 34 4 11 96 65 23 6 36 50 9 13
$200K -$249K 13 22 1 15 64 52 8 7 42 62 4 13
$250K -$299K 8 14 2 16 35 44 10 11 32 77 9 22
$300K -$349K 5 9 0 16 17 37 3 20 28 63 5 20
$350K -$399K 7 11 2 14 14 31 2 20 28 57 8 18
$400K -$449K 3 3 0 9 4 16 2 36 18 37 3 19
$450K -$499K 0 8 0 ** 2 18 0 81 13 54 3 37
$500K -$749K 6 19 1 29 9 37 1 37 31 127 6 37
$750K -$999K 3 7 0 21 2 12 2 54 10 72 5 65
$1M -$1.99M 1 6 1 54 0 11 1 ** 14 68 3 44
$2,M -$2.99M 0 2 0 ** 0 2 0 ** 1 18 1 162
$3M -$4.99M 0 2 0 ** 0 1 0 ** 1 15 1 135
$5M + 0 0 0 ** 0 1 0 ** 0 0 0 **
Total 166 241 30 13 421 429 74 9 295 746 62 23
** Not enough sales to calculate Absorption Rate
North Central South
3rd Qtr Sold $ Active $ Pending $ Sold $ Active $ Pending $ Sold $ Active $ Pending $
Avg $189,271 $314,636 $220,317 $188,461 $356,705 $231,840 $379,127 $663,550 $525,134
Median $139,500 $169,900 $129,900 $159,000 $247,000 $299,900 $294,000 $439,000 $120,000
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 3
RESIDENTIAL REPORT Overall residential sales rose by 7% in the first 9 months of 2015 compared to the sales rates of 2014. Sales were significantly stronger than the previous 5 years, as shown below. Northern Berkshire led the pack with large double digit increases in both the number sold and the dollar volume transacted. Central Berkshire saw strong gains in their residential market as well, but did record a dip in the average sale price. Southern Berkshire sales rose by 3% while the dollar volume fell by 3%.
Jan-Sept 2010 2011 2012 2013 2014 2015 North
$ Sold $23,978,200 $21,331,025 $26,609,503 $25,270,656 $24,571,337 $31,419,002 % Chg $ 10.66% -11.04% 24.75% -5.03% -2.77% 27.87% # Sold 118 118 144 140 135 166 % Chg # 8.26% 0.00% 22.03% -2.78% -3.57% 22.96% Avg $ $203,205 $180,771 $184,788 $180,505 $182,010 $189,271 % Chg Avg 10.66% -11.04% 24.75% -5.03% -2.77% 27.87%
Central $ Sold $60,559,963 $55,390,667 $59,480,375 $69,230,709 $69,421,725 $79,341,921 % Chg $ 15.61% -8.54% 7.38% 16.39% 0.28% 14.29% # Sold 295 278 315 379 357 421 % Chg # 6.88% -5.76% 13.31% 20.32% -5.80% 17.93% Avg $ $205,288 $199,247 $188,827 $182,667 $194,459 $188,461 % Chg Avg 15.61% -8.54% 7.38% 16.39% 0.28% 14.29%
South $ Sold $87,265,410 $82,776,049 $93,135,200 $110,247,166 $114,930,950 $111,842,360 % Chg $ 24.42% -5.14% 12.51% 18.37% 4.25% -2.69% # Sold 226 215 264 282 286 295 % Chg # 15.90% -4.87% 22.79% 6.82% 1.42% 3.15% Avg $ $386,130 $385,005 $352,785 $390,947 $401,856 $379,127 % Chg Avg 24.42% -5.14% 12.51% 18.37% 4.25% -2.69%
Total $ Sold $171,803,573 $159,497,741 $179,225,078 $204,748,531 $208,924,012 $222,603,283 Total % Chg $ 19.15% -7.16% 12.37% 14.24% 2.04% 6.55% Total # Sold 639 611 723 801 778 882 Total % Chg # 10.17% -4.38% 18.33% 10.79% -2.87% 13.37% Total Avg $ $268,863 $261,044 $247,891 $255,616 $268,540 $252,385 Total % Chg Avg 19.15% -7.16% 12.37% 14.24% 2.04% 6.55%
Strong gains In Residential Sales
North & Central Berkshire, Mixed
in South.
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 4
CONDO REPORT After several slow years of condominium sales, it is a welcome change with sale increases in all parts of the county. Overall, sales rose 37% with an increase of 53% in the number of units sold. This is the highest year on record, to-date, for condo sales since 2007.
Jan-Sept 2010 2011 2012 2013 2014 2015 North
$ Sold $1,288,000 $508,000 $1,383,500 $1,896,000 $1,241,300 $2,308,400 % Chg $ -16.71% -60.56% 172.34% 37.04% -34.53% 85.97% # Sold 7 3 9 10 6 11 % Chg # 0.00% -57.14% 200.00% 11.11% -40.00% 83.33% Avg $ $184,000 $169,333 $153,722 $189,600 $206,883 $209,855 % Chg Avg -16.71% -60.56% 172.34% 37.04% -34.53% 85.97%
Central $ Sold $4,552,136 $3,480,450 $3,643,850 $7,640,355 $5,173,600 $5,623,550 % Chg $ 92.85% -23.54% 4.69% 109.68% -32.29% 8.70% # Sold 25 15 21 28 21 30 % Chg # 150.00% -40.00% 40.00% 33.33% -25.00% 42.86% Avg $ $182,085 $232,030 $173,517 $272,870 $246,362 $187,452 % Chg Avg 92.85% -23.54% 4.69% 109.68% -32.29% 8.70%
South $ Sold $6,440,450 $10,301,000 $6,378,625 $12,095,800 $10,344,200 $15,016,450 % Chg $ -9.55% 59.94% -38.08% 89.63% -14.48% 45.17% # Sold 22 24 21 41 34 52 % Chg # 15.79% 9.09% -12.50% 95.24% -17.07% 52.94% Avg $ $292,748 $429,208 $303,744 $295,020 $304,241 $288,778 % Chg Avg -9.55% 59.94% -38.08% 89.63% -14.48% 45.17%
Total $ Sold $12,280,586 $14,289,450 $11,405,975 $21,632,155 $16,759,100 $22,948,400 Total % Chg $ 11.36% 16.36% -20.18% 89.66% -22.53% 36.93% Total # Sold 54 42 51 79 61 93 Total % Chg # 50.00% -22.22% 21.43% 54.90% -22.78% 52.46% Total Avg $ $227,418 $340,225 $223,647 $273,825 $274,739 $246,757 Total % Chg Avg 11.36% 16.36% -20.18% 89.66% -22.53% 36.93%
Condo Sales Jump in All
areas of Berkshire
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 5
CONDO REPORT
The somewhat volatile condo sales history shown below highlights the strength of 2015 YTD sales. These sales reflect much needed improvement in the condo market from the struggles of 2009-2012.
• In northern Berkshire, Williamstown drives the far majority of the condo market, recording 9 of the 11 sales.
• In central Berkshire, falling condo median prices in Pittsfield and Dalton drove the average down -38%. • In southern Berkshire, Lee and Great Barrington showed improvements, but strong sales in Lenox and
Stockbridge drove the exceptional gains recorded.
13M
16M
20M
22M
22M23M
20M
11M12M
14M
11M
22M
17M
23M
10M
12M
14M
16M
18M
20M
22M
24M
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
HISTORICAL 3RD QUARTER YTD CONDO SALES
Condo Median Sale Price
2014 2015 % chg North $168,000 $210,000 25% Central $223,900 $161,500 -38% South $190,000 $184,350 -3% All Condos $195,000 $179,000 -8%
Median prices continue to creep downward, with an overall price of $179,000, down from $195,000 at the same time last year. With the exception of northern Berkshire, this
decrease was reflected throughout the county.
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 6
MULTIFAMILY REPORT The ebbs and flows of the multifamily market show a modest decrease in both the dollar volume and number transacted. That said, multifamily sales in southern Berkshire was a bright spot for this market, with double digit increases in dollar volume and units transacted. Central also reported robust sales in the first two quarters, but slowed in the third quarter, resulting in an overall decrease in sales of 21% in dollar volume and an even number of sales. North county sales fell in both dollars transacted and units sold.
Jan-Sept 2010 2011 2012 2013 2014 2015 North
$ Sold $3,449,100 $1,534,100 $1,273,400 $4,046,800 $3,919,150 $2,211,300 % Chg $ 19.15% -55.52% -16.99% 217.79% -3.15% -43.58% # Sold 33 17 19 34 35 25 % Chg # 17.86% -48.48% 11.76% 78.95% 2.94% -28.57% Avg $ $104,518 $90,241 $67,021 $119,024 $111,976 $88,452 % Chg Avg 19.15% -55.52% -16.99% 217.79% -3.15% -43.58%
Central $ Sold $3,098,300 $4,526,129 $4,589,550 $4,191,615 $5,303,600 $4,171,400 % Chg $ -46.67% 46.08% 1.40% -8.67% 26.53% -21.35% # Sold 31 39 43 34 36 36 % Chg # -32.61% 25.81% 10.26% -20.93% 5.88% 0.00% Avg $ $99,945 $116,055 $106,734 $123,283 $147,322 $115,872 % Chg Avg -46.67% 46.08% 1.40% -8.67% 26.53% -21.35%
South $ Sold $1,898,500 $1,834,000 $1,160,500 $1,683,500 $1,692,500 $2,150,775 % Chg $ 160.78% -3.40% -36.72% 45.07% 0.53% 27.08% # Sold 11 9 7 7 7 8 % Chg # 266.67% -18.18% -22.22% 0.00% 0.00% 14.29% Avg $ $172,591 $203,778 $165,786 $240,500 $241,786 $268,847 % Chg Avg 160.78% -3.40% -36.72% 45.07% 0.53% 27.08%
Total $ Sold $8,445,900 $7,894,229 $7,023,450 $9,921,915 $10,915,250 $8,533,475 Total % Chg $ -10.46% -6.53% -11.03% 41.27% 10.01% -21.82% Total # Sold 75 65 69 75 78 69 Total % Chg # -2.60% -13.33% 6.15% 8.70% 4.00% -11.54% Total Avg $ $112,612 $121,450 $101,789 $132,292 $139,939 $123,674 Total % Chg Avg -10.46% -6.53% -11.03% 41.27% 10.01% -21.82%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 7
LAND REPORT Continuing the trend from the second quarter, all regions report increasing sales from last year. It is a healthy year compared to the 5 years of previously slow land sales. Historically, we had a high of 193 parcels sold in the first three quarters of 2004, that were valued at $21 million, compared to 69 sales this year valued at $6.3 million. Our lowest sales year for land sales was in 2012, where transactions dropped to 43 countywide, valued at $4.6 million.
Jan-Sept 2010 2011 2012 2013 2014 2015 North
$ Sold $717,201 $387,000 $610,500 $1,001,500 $479,900 $1,202,287 % Chg $ 27.07% -46.04% 57.75% 64.05% -52.08% 150.53% # Sold 13 3 10 16 9 17 % Chg # 85.71% -76.92% 233.33% 60.00% -43.75% 88.89% Avg $ $55,169 $129,000 $61,050 $62,594 $53,322 $70,723 % Chg Avg 27.07% -46.04% 57.75% 64.05% -52.08% 150.53%
Central $ Sold $1,583,750 $1,043,000 $676,200 $2,145,000 $1,025,750 $1,326,500 % Chg $ 55.50% -34.14% -35.17% 217.21% -52.18% 29.32% # Sold 20 13 14 16 15 20 % Chg # 233.33% -35.00% 7.69% 14.29% -6.25% 33.33% Avg $ $79,188 $80,231 $48,300 $134,063 $68,383 $66,325 % Chg Avg 55.50% -34.14% -35.17% 217.21% -52.18% 29.32%
South $ Sold $5,436,800 $5,839,250 $3,407,500 $7,551,000 $3,629,400 $3,769,592 % Chg $ 14.41% 7.40% -41.64% 121.60% -51.93% 3.86% # Sold 31 41 19 42 41 32 % Chg # 34.78% 32.26% -53.66% 121.05% -2.38% -21.95% Avg $ $175,381 $142,421 $179,342 $179,786 $88,522 $117,800 % Chg Avg 14.41% 7.40% -41.64% 121.60% -51.93% 3.86%
Total $ Sold $7,737,751 $7,269,250 $4,694,200 $10,697,500 $5,135,050 $6,298,379 Total % Chg $ 22.15% -6.05% -35.42% 127.89% -52.00% 22.65% Total # Sold 64 57 43 74 65 69 Total % Chg # 77.78% -10.94% -24.56% 72.09% -12.16% 6.15% Total Avg $ $120,902 $127,531 $109,167 $144,561 $79,001 $91,281 Total % Chg Avg 22.15% -6.05% -35.42% 127.89% -52.00% 22.65%
Land Sales Rise with Building Permits
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 8
LAND REPORT Considered a positive sign, the US census Bureau reports that in 2014, 177 building permits were reported for Berkshire County. Historically, raw land sales rates correlate to the building permits. The small upswing in 2015 sales rates for the county could be the beginning of a strengthen land market.
480 486
352
298315
173
139122
89 99
177
193
157122
8464
3664 57
4374 65
0
100
200
300
400
500
600
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
US CENSUS BUILDING PERMITS PERMITS (TOP) SALES (BOTTOM
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 9
COMMERCIAL REPORT Commercial transactions are not required to be reported to the Berkshire County Multiple Listing Service, but many are put on the open market in this manner. Of those for sale, we have reported strong increases from last year so far in 2015.
Jan- Sept 2010 2011 2012 2013 2014 2015 North
$ Sold $672,500 $3,215,000 $1,642,000 $457,000 $1,606,000 $2,155,400 % Chg $ -38.61% 378.07% -48.93% -72.17% 251.42% 34.21% # Sold 4 9 8 4 6 9 % Chg # 0.00% 125.00% -11.11% -50.00% 50.00% 50.00% Avg $ $168,125 $357,222 $205,250 $114,250 $267,667 $239,489 % Chg Avg -38.61% 378.07% -48.93% -72.17% 251.42% 34.21%
Central $ Sold $995,000 $672,500 $872,843 $1,006,000 $1,198,000 $1,442,500 % Chg $ -3.86% -32.41% 29.79% 15.26% 19.09% 20.41% # Sold 4 4 4 5 6 7 % Chg # 0.00% 0.00% 0.00% 25.00% 20.00% 16.67% Avg $ $248,750 $168,125 $218,211 $201,200 $199,667 $206,071 % Chg Avg -3.86% -32.41% 29.79% 15.26% 19.09% 20.41%
South $ Sold $2,115,001 $5,035,000 $4,052,400 $10,504,000 $3,971,188 $3,175,500 % Chg $ -31.83% 138.06% -19.52% 159.20% -62.19% -20.04% # Sold 6 8 11 10 10 7 % Chg # 20.00% 33.33% 37.50% -9.09% 0.00% -30.00% Avg $ $352,500 $629,375 $368,400 $1,050,400 $397,119 $453,643 % Chg Avg -31.83% 138.06% -19.52% 159.20% -62.19% -20.04%
Total $ Sold $3,782,501 $8,922,500 $6,567,243 $11,967,000 $6,775,188 $6,773,400 Total % Chg $ -27.72% 135.89% -26.40% 82.22% -43.38% -0.03% Total # Sold 14 21 23 19 22 23 Total % Chg # 7.69% 50.00% 9.52% -17.39% 15.79% 4.55% Total Avg $ $270,179 $424,881 $285,532 $629,842 $307,963 $294,496 Total % Chg Avg -27.72% 135.89% -26.40% 82.22% -43.38% -0.03%
Rates Close to Last Year,
Strong In North
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 10
3. 89 %
228 sales ↑ 189.8%
241 Homes for Sale
NORTH BERKSHIRE AT-A-GLANCE JANUARY – SEPTEMBER 2015
13 months’ supply
$100 K- $150 K
Hottest Prices Range: For listings
and sales
$139,50 median sale price $169,900 ↓ median list price
Continuing the market trends, Williamstown has healthy increases in residential sales, but Adams and North Adams sales volume fell by approximately 6%. Overall Residential, Land, Condo and Commercial sales increased, while Multifamily sales fell by 10 units YTD.
130
91% List-to-Sell
Ratio
$39.3M sales,
23.5%
Residential Sales Volume $31.4 M up 28% Residential # Units Sold 166, up 231% Multi-family Sales Volume: $2.2 M, down 44% Multi-family # Units Sold: 25 down 29%
Condo Sales Volume: $2.3M, up 86% Condo # Units Sold: 11, up 83% (from 6 to 11)
Land Sales Volume: $1.2M, up 150% Land # Units Sold: 17, up 89% (from 9 to 17)
Commercial Sales Volume: $2.5M, up 34% Commercial # Units Sold: 9, up 50%
30 sales
pending
Unlike the rest of the county, Northern Berkshire had a robust start to the year, and continued a healthy pace into the second quarter. Residential sales in Adams slowed this quarter, and North Adams continued to lag. Most property types overall were strong countrywide, with the exception of sluggish multifamily sales year to date, down 43% from last year. Residential sales were up on average 28%, condo showed a huge improvement up 86% and land sales robust with 150% increase over the same period last year.
↓ from 3.98% Avg 30 Yr MtgRate
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 11
3RD QUARTER 2015 NORTH COUNTY REAL ESTATE SALES OVERVIEW
Jan-Sept 2015 2010 2011 2012 2013 2014 2015 Commercial
$ Sold $672,500 $3,215,000 $1,642,000 $457,000 $1,606,000 $2,155,400 % Chg $ -38.61% 378.07% -48.93% -72.17% 251.42% 34.21% # Sold 4 9 8 4 6 9 % Chg # 0.00% 125.00% -11.11% -50.00% 50.00% 50.00% Avg $ $168,125 $357,222 $205,250 $114,250 $267,667 $239,489 % Chg Avg -38.61% 378.07% -48.93% -72.17% 251.42% 34.21%
Condominium $ Sold $1,288,000 $508,000 $1,383,500 $1,896,000 $1,241,300 $2,308,400 % Chg $ -16.71% -60.56% 172.34% 37.04% -34.53% 85.97% # Sold 7 3 9 10 6 11 % Chg # 0.00% -57.14% 200.00% 11.11% -40.00% 83.33% Avg $ $184,000 $169,333 $153,722 $189,600 $206,883 $209,855 % Chg Avg -16.71% -60.56% 172.34% 37.04% -34.53% 85.97%
Lots/Land $ Sold $717,201 $387,000 $610,500 $1,001,500 $479,900 $1,202,287 % Chg $ 27.07% -46.04% 57.75% 64.05% -52.08% 150.53% # Sold 13 3 10 16 9 17 % Chg # 85.71% -76.92% 233.33% 60.00% -43.75% 88.89% Avg $ $55,169 $129,000 $61,050 $62,594 $53,322 $70,723 % Chg Avg 27.07% -46.04% 57.75% 64.05% -52.08% 150.53%
MultiFamily $ Sold $3,449,100 $1,534,100 $1,273,400 $4,046,800 $3,919,150 $2,211,300 % Chg $ 19.15% -55.52% -16.99% 217.79% -3.15% -43.58% # Sold 33 17 19 34 35 25 % Chg # 17.86% -48.48% 11.76% 78.95% 2.94% -28.57% Avg $ $104,518 $90,241 $67,021 $119,024 $111,976 $88,452 % Chg Avg 19.15% -55.52% -16.99% 217.79% -3.15% -43.58%
Residential $ Sold $23,978,200 $21,331,025 $26,609,503 $25,270,656 $24,571,337 $31,419,002 % Chg $ 10.66% -11.04% 24.75% -5.03% -2.77% 27.87% # Sold 118 118 144 140 135 166 % Chg # 8.26% 0.00% 22.03% -2.78% -3.57% 22.96% Avg $ $203,205 $180,771 $184,788 $180,505 $182,010 $189,271 % Chg Avg 10.66% -11.04% 24.75% -5.03% -2.77% 27.87%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 12
NORTH COUNTY RESIDENTIAL SALES Jan-Sept. 2010 2011 2012 2013 2014 2015 Adams
$ Sold $4,165,250 $5,336,100 $5,075,500 $4,540,330 $4,917,049 $4,610,900 % Chg $ 14.30% 28.11% -4.88% -10.54% 8.30% -6.23% # Sold 31 35 40 39 41 34 % Chg # 14.81% 12.90% 14.29% -2.50% 5.13% -17.07% Avg $ $134,363 $152,460 $126,888 $116,419 $119,928 $135,615 % Chg Avg 14.30% 28.11% -4.88% -10.54% 8.30% -6.23%
Clarksburg $ Sold $1,116,650 $455,000 $1,266,000 $948,750 $976,675 $923,400 % Chg $ 11.00% -59.25% 178.24% -25.06% 2.94% -5.45% # Sold 8 2 9 7 8 7 % Chg # 14.29% -75.00% 350.00% -22.22% 14.29% -12.50% Avg $ $139,581 $227,500 $140,667 $135,536 $122,084 $131,914 % Chg Avg 11.00% -59.25% 178.24% -25.06% 2.94% -5.45%
Florida $ Sold $418,000 $188,700 $523,000 $228,000 $200,000 $612,500 % Chg $ 245.45% -54.86% 177.16% -56.41% -12.28% 206.25% # Sold 3 1 3 2 1 6 % Chg # 50.00% -66.67% 200.00% -33.33% -50.00% 500.00% Avg $ $139,333 $188,700 $174,333 $114,000 $200,000 $102,083 % Chg Avg 245.45% -54.86% 177.16% -56.41% -12.28% 206.25%
New Ashford $ Sold $337,500 $350,000 $180,499 % Chg $ -48.43% # Sold 2 1 1 % Chg # 0.00% Avg $ $168,750 $350,000 $180,499 % Chg Avg -48.43%
North Adams $ Sold $4,846,050 $5,766,100 $5,823,562 $6,175,100 $6,957,288 $6,543,600 % Chg $ -15.84% 18.99% 1.00% 6.04% 12.67% -5.95% # Sold 40 48 53 49 55 58 % Chg # -2.44% 20.00% 10.42% -7.55% 12.24% 5.45% Avg $ $121,151 $120,127 $109,879 $126,022 $126,496 $112,821 % Chg Avg -15.84% 18.99% 1.00% 6.04% 12.67% -5.95%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 13
NORTH COUNTY RESIDENTIAL SALES
Jan-Sept. 2010 2011 2012 2013 2014 2015 Savoy
$ Sold $100,000 $215,000 $413,000 $938,800 $879,000 % Chg $ -84.52% 115.00% 92.09% 127.31% # Sold 1 1 2 5 6 % Chg # -75.00% 0.00% 100.00% 150.00% Avg $ $100,000 $215,000 $206,500 $187,760 $146,500 % Chg Avg -84.52% 115.00% 92.09% 127.31%
Williamstown $ Sold $13,332,250 $9,032,625 $13,508,441 $12,439,676 $11,170,325 $17,669,103 % Chg $ 27.72% -32.25% 49.55% -7.91% -10.20% 58.18% # Sold 35 29 37 38 29 54 % Chg # 29.63% -17.14% 27.59% 2.70% -23.68% 86.21% Avg $ $380,921 $311,470 $365,093 $327,360 $385,184 $327,206 % Chg Avg 27.72% -32.25% 49.55% -7.91% -10.20% 58.18%
Total $ Sold $23,978,200 $21,331,025 $26,609,503 $25,270,656 $24,571,337 $31,419,002 Total % Chg $ 10.66% -11.04% 24.75% -5.03% -2.77% 27.87% Total # Sold 118 118 144 140 135 166 Total % Chg # 8.26% 0.00% 22.03% -2.78% -3.57% 22.96% Total Avg $ $203,205 $180,771 $184,788 $180,505 $182,010 $189,271 Total % Chg Avg 10.66% -11.04% 24.75% -5.03% -2.77% 27.87%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 14
$91.9M sales ↑ 12%
514 Sales
↑ 17%
429 Homes for Sale
3. 89 %
CENTRAL BERKSHIRE AT-A-GLANCE JANUARY – JUNE 2015
9 months’ supply ↓
$150-199 K Hottest Price
Range: For listings
$100-149K For sales
Residential Sales Volume $79M, up 14% Residential # Units Sold 421, Up 18% Multi-family Sales Volume: $4.1M, down 21% Multi-family # Units Sold: 36, same last year
Condo Sales Volume: $5.6M, up 8.7% Condo # Units Sold: 30, Up 43%
Land Sales Volume: $1.3M, up 29% Land # Units Sold: 20, up 33%
Commercial Sales Volume: $1.4, up 20% Commercial # Units Sold: 7, up 17%
$159,000 ↑ median sale price
$247,000 ↓ median list price
Pittsfield and Cheshire reported strong sales for the first 3 quarters of 2015 compared to 2014. Dalton and Lanesboro residential sales decreased. Hinsdale rallied from the last quarter, up 45% year-to-date. Overall, Residential, Condo, Land and Commercial Sales rose over 2014 rates, and like the northern Berkshire region, reported slowed multifamily sales.
94% List-to-
Sell Ratio
150 Central Berkshire continues a strong real estate market in most all property types, with gains across the board from the same time last year. With 74 sales pending at the end of September 2015, continuing market improvements are expected through the end of the year.
74 sales
pending
↓ from 3.98% Avg 30 Yr MtgRate
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 15
3RD QUARTER 2015 CENTRAL COUNTY REAL ESTATE SALES OVERVIEW
Jan-Sept 2010 2011 2012 2013 2014 2015 Commercial
$ Sold $995,000 $672,500 $872,843 $1,006,000 $1,198,000 $1,442,500 % Chg $ -3.86% -32.41% 29.79% 15.26% 19.09% 20.41% # Sold 4 4 4 5 6 7 % Chg # 0.00% 0.00% 0.00% 25.00% 20.00% 16.67% Avg $ $248,750 $168,125 $218,211 $201,200 $199,667 $206,071 % Chg Avg -3.86% -32.41% 29.79% 15.26% 19.09% 20.41%
Condominium $ Sold $4,552,136 $3,480,450 $3,643,850 $7,640,355 $5,173,600 $5,623,550 % Chg $ 92.85% -23.54% 4.69% 109.68% -32.29% 8.70% # Sold 25 15 21 28 21 30 % Chg # 150.00% -40.00% 40.00% 33.33% -25.00% 42.86% Avg $ $182,085 $232,030 $173,517 $272,870 $246,362 $187,452 % Chg Avg 92.85% -23.54% 4.69% 109.68% -32.29% 8.70%
Lots/Land $ Sold $1,583,750 $1,043,000 $676,200 $2,145,000 $1,025,750 $1,326,500 % Chg $ 55.50% -34.14% -35.17% 217.21% -52.18% 29.32% # Sold 20 13 14 16 15 20 % Chg # 233.33% -35.00% 7.69% 14.29% -6.25% 33.33% Avg $ $79,188 $80,231 $48,300 $134,063 $68,383 $66,325 % Chg Avg 55.50% -34.14% -35.17% 217.21% -52.18% 29.32%
MultiFamily $ Sold $3,098,300 $4,526,129 $4,589,550 $4,191,615 $5,303,600 $4,171,400 % Chg $ -46.67% 46.08% 1.40% -8.67% 26.53% -21.35% # Sold 31 39 43 34 36 36 % Chg # -32.61% 25.81% 10.26% -20.93% 5.88% 0.00% Avg $ $99,945 $116,055 $106,734 $123,283 $147,322 $115,872 % Chg Avg -46.67% 46.08% 1.40% -8.67% 26.53% -21.35%
Residential $ Sold $60,559,963 $55,390,667 $59,480,375 $69,230,709 $69,421,725 $79,341,921 % Chg $ 15.61% -8.54% 7.38% 16.39% 0.28% 14.29% # Sold 295 278 315 379 357 421 % Chg # 6.88% -5.76% 13.31% 20.32% -5.80% 17.93% Avg $ $205,288 $199,247 $188,827 $182,667 $194,459 $188,461 % Chg Avg 15.61% -8.54% 7.38% 16.39% 0.28% 14.29%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 16
CENTRAL COUNTY RESIDENTIAL SALES Jan- Sept 2010 2011 2012 2013 2014 2015 Cheshire
$ Sold $1,887,500 $2,302,600 $1,688,550 $3,440,900 $2,139,000 $4,336,400 % Chg $ 22.89% 21.99% -26.67% 103.78% -37.84% 102.73% # Sold 9 12 10 21 11 23 % Chg # -10.00% 33.33% -16.67% 110.00% -47.62% 109.09% Avg $ $209,722 $191,883 $168,855 $163,852 $194,455 $188,539 % Chg Avg 22.89% 21.99% -26.67% 103.78% -37.84% 102.73%
Dalton $ Sold $10,438,433 $7,784,800 $7,788,250 $8,097,550 $8,347,455 $7,761,552 % Chg $ 23.98% -25.42% 0.04% 3.97% 3.09% -7.02% # Sold 44 37 39 41 42 45 % Chg # 7.32% -15.91% 5.41% 5.13% 2.44% 7.14% Avg $ $237,237 $210,400 $199,699 $197,501 $198,749 $172,479 % Chg Avg 23.98% -25.42% 0.04% 3.97% 3.09% -7.02%
Hancock $ Sold $1,155,150 $1,454,900 $469,000 $1,014,900 $1,196,200 $1,556,500 % Chg $ 42.35% 25.95% -67.76% 116.40% 17.86% 30.12% # Sold 6 4 3 2 4 5 % Chg # 100.00% -33.33% -25.00% -33.33% 100.00% 25.00% Avg $ $192,525 $363,725 $156,333 $507,450 $299,050 $311,300 % Chg Avg 42.35% 25.95% -67.76% 116.40% 17.86% 30.12%
Hinsdale $ Sold $3,057,800 $3,192,950 $1,184,800 $1,899,000 $2,250,500 $3,251,200 % Chg $ 128.87% 4.42% -62.89% 60.28% 18.51% 44.47% # Sold 15 14 7 9 11 14 % Chg # 87.50% -6.67% -50.00% 28.57% 22.22% 27.27% Avg $ $203,853 $228,068 $169,257 $211,000 $204,591 $232,229 % Chg Avg 128.87% 4.42% -62.89% 60.28% 18.51% 44.47%
Lanesboro $ Sold $4,526,000 $2,767,650 $3,234,400 $3,324,200 $5,549,800 $4,798,260 % Chg $ 56.18% -38.85% 16.86% 2.78% 66.95% -13.54% # Sold 17 14 15 17 24 22 % Chg # 21.43% -17.65% 7.14% 13.33% 41.18% -8.33% Avg $ $266,235 $197,689 $215,627 $195,541 $231,242 $218,103 % Chg Avg 56.18% -38.85% 16.86% 2.78% 66.95% -13.54%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 17
CENTRAL COUNTY RESIDENTIAL SALES Jan- Sept 2010 2011 2012 2013 2014 2015 Peru
$ Sold $310,000 $740,500 $464,500 $806,500 $879,500 $895,500 % Chg $ -33.65% 138.87% -37.27% 73.63% 9.05% 1.82% # Sold 2 5 4 5 5 5 % Chg # -60.00% 150.00% -20.00% 25.00% 0.00% 0.00% Avg $ $155,000 $148,100 $116,125 $161,300 $175,900 $179,100 % Chg Avg -33.65% 138.87% -37.27% 73.63% 9.05% 1.82%
Pittsfield $ Sold $35,175,380 $34,564,767 $36,038,025 $44,310,759 $41,226,070 $48,660,209 % Chg $ 10.01% -1.74% 4.26% 22.96% -6.96% 18.03% # Sold 188 183 216 264 236 281 % Chg # 4.44% -2.66% 18.03% 22.22% -10.61% 19.07% Avg $ $187,103 $188,879 $166,843 $167,844 $174,687 $173,168 % Chg Avg 10.01% -1.74% 4.26% 22.96% -6.96% 18.03%
Richmond $ Sold $2,255,000 $1,115,000 $6,843,050 $5,035,000 $5,855,200 $5,395,900 % Chg $ -39.73% -50.55% 513.73% -26.42% 16.29% -7.84% # Sold 6 3 13 13 13 14 % Chg # -40.00% -50.00% 333.33% 0.00% 0.00% 7.69% Avg $ $375,833 $371,667 $526,388 $387,308 $450,400 $385,421 % Chg Avg -39.73% -50.55% 513.73% -26.42% 16.29% -7.84%
Washington $ Sold $857,000 $480,000 $649,900 $760,000 $1,002,000 $1,513,900 % Chg $ 104.58% -43.99% 35.40% 16.94% 31.84% 51.09% # Sold 4 1 2 4 5 6 % Chg # 100.00% -75.00% 100.00% 100.00% 25.00% 20.00% Avg $ $214,250 $480,000 $324,950 $190,000 $200,400 $252,317 % Chg Avg 104.58% -43.99% 35.40% 16.94% 31.84% 51.09%
Windsor $ Sold $897,700 $987,500 $1,119,900 $541,900 $976,000 $1,172,500 % Chg $ 15.16% 10.00% 13.41% -51.61% 80.11% 20.13% # Sold 4 5 6 3 6 6 % Chg # 33.33% 25.00% 20.00% -50.00% 100.00% 0.00% Avg $ $224,425 $197,500 $186,650 $180,633 $162,667 $195,417 % Chg Avg 15.16% 10.00% 13.41% -51.61% 80.11% 20.13%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 18
$135.9M Sales ↑ 1%
3.89 %
394 sales ↑ 4%
746 Homes for Sale
SOUTH BERKSHIRE AT-A-GLANCE JANUARY – JUNE 2015
Residential sales slightly rebounded since the second quarter, but are still 2.5% off from the same time last period. The market has regained a 54% decrease in the first quarter of the year. Other markets, including condo, multifamily, and land were overall strong. With 62 sales pending the market for the last quarter, there is hope for continued improvement.
23 months’ supply
$500-749 K Hottest Price
Range: For listings
$200-249K For sales
Residential Sales Volume $111.8M, down -2.5% Residential # Units Sold 295, up 3% Multi-family Sales Volume: $2.2M, up 27% Multi-family # Units Sold: 8, up 14%
Condo Sales Volume: $15M, up 45% Condo # Units Sold: 52, up 53%
Land Sales Volume: $3.7M, up 4% Land # Units Sold: 32, down -22%
Commercial Sales Volume: $3.2M, down 20% Commercial # Units Sold: 7, down 30% from 10
$294,000 ↓ median sale price
$439,000 ↑ median list price
The residential market was strong in Great Barrington and Sheffield, where sales rates topped those recorded in the same period of 2015. Becket, Lee, Lenox, Monterey and Stockbridge residential home sales fell year to date.
249
92% List-to-Sell
Ratio
62 sales
pending
↓ from 3.98% Avg 30 Yr MtgRate
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 19
3RD QUARTER 2015 CENTRAL COUNTY REAL ESTATE SALES OVERVIEW
Jan-Sept 2010 2011 2012 2013 2014 2015 Commercial
$ Sold $2,115,001 $5,035,000 $4,052,400 $10,504,000 $3,971,188 $3,175,500 % Chg $ -31.83% 138.06% -19.52% 159.20% -62.19% -20.04% # Sold 6 8 11 10 10 7 % Chg # 20.00% 33.33% 37.50% -9.09% 0.00% -30.00% Avg $ $352,500 $629,375 $368,400 $1,050,400 $397,119 $453,643 % Chg Avg -31.83% 138.06% -19.52% 159.20% -62.19% -20.04%
Condominium $ Sold $6,440,450 $10,301,000 $6,378,625 $12,095,800 $10,344,200 $15,016,450 % Chg $ -9.55% 59.94% -38.08% 89.63% -14.48% 45.17% # Sold 22 24 21 41 34 52 % Chg # 15.79% 9.09% -12.50% 95.24% -17.07% 52.94% Avg $ $292,748 $429,208 $303,744 $295,020 $304,241 $288,778 % Chg Avg -9.55% 59.94% -38.08% 89.63% -14.48% 45.17%
Lots/Land $ Sold $5,436,800 $5,839,250 $3,407,500 $7,551,000 $3,629,400 $3,769,592 % Chg $ 14.41% 7.40% -41.64% 121.60% -51.93% 3.86% # Sold 31 41 19 42 41 32 % Chg # 34.78% 32.26% -53.66% 121.05% -2.38% -21.95% Avg $ $175,381 $142,421 $179,342 $179,786 $88,522 $117,800 % Chg Avg 14.41% 7.40% -41.64% 121.60% -51.93% 3.86%
MultiFamily $ Sold $1,898,500 $1,834,000 $1,160,500 $1,683,500 $1,692,500 $2,150,775 % Chg $ 160.78% -3.40% -36.72% 45.07% 0.53% 27.08% # Sold 11 9 7 7 7 8 % Chg # 266.67% -18.18% -22.22% 0.00% 0.00% 14.29% Avg $ $172,591 $203,778 $165,786 $240,500 $241,786 $268,847 % Chg Avg 160.78% -3.40% -36.72% 45.07% 0.53% 27.08%
Residential $ Sold $87,265,410 $82,776,049 $93,135,200 $110,247,166 $114,930,950 $111,842,360 % Chg $ 24.42% -5.14% 12.51% 18.37% 4.25% -2.69% # Sold 226 215 264 282 286 295 % Chg # 15.90% -4.87% 22.79% 6.82% 1.42% 3.15% Avg $ $386,130 $385,005 $352,785 $390,947 $401,856 $379,127 % Chg Avg 24.42% -5.14% 12.51% 18.37% 4.25% -2.69%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 20
SOUTH COUNTY RESIDENTIAL SALES Jan-Sept 2010 2011 2012 2013 2014 2015 Alford
$ Sold $1,350,000 $1,661,000 $2,730,000 $7,958,500 $9,380,800 $8,466,250 % Chg $ 900.00% 23.04% 64.36% 191.52% 17.87% -9.75% # Sold 1 3 3 9 7 7 % Chg # 0.00% 200.00% 0.00% 200.00% -22.22% 0.00% Avg $ $1,350,000 $553,667 $910,000 $884,278 $1,340,114 $1,209,464 % Chg Avg 900.00% 23.04% 64.36% 191.52% 17.87% -9.75%
Becket $ Sold $4,275,510 $4,119,300 $5,519,050 $5,175,950 $8,468,250 $6,553,850 % Chg $ -44.25% -3.65% 33.98% -6.22% 63.61% -22.61% # Sold 23 17 32 29 36 35 % Chg # 4.55% -26.09% 88.24% -9.38% 24.14% -2.78% Avg $ $185,892 $242,312 $172,470 $178,481 $235,229 $187,253 % Chg Avg -44.25% -3.65% 33.98% -6.22% 63.61% -22.61%
Egremont $ Sold $7,366,250 $4,557,500 $2,702,500 $8,660,250 $8,512,750 $7,685,500 % Chg $ 35.50% -38.13% -40.70% 220.45% -1.70% -9.72% # Sold 16 12 9 12 16 15 % Chg # 100.00% -25.00% -25.00% 33.33% 33.33% -6.25% Avg $ $460,391 $379,792 $300,278 $721,688 $532,047 $512,367 % Chg Avg 35.50% -38.13% -40.70% 220.45% -1.70% -9.72%
Great Barrington $ Sold $14,000,500 $18,429,000 $16,793,200 $18,973,900 $13,986,400 $21,182,050 % Chg $ -12.56% 31.63% -8.88% 12.99% -26.29% 51.45% # Sold 33 46 42 49 42 49 % Chg # -23.26% 39.39% -8.70% 16.67% -14.29% 16.67% Avg $ $424,258 $400,630 $399,838 $387,222 $333,010 $432,287 % Chg Avg -12.56% 31.63% -8.88% 12.99% -26.29% 51.45%
Lee $ Sold $6,373,400 $4,672,700 $6,245,550 $7,734,110 $9,107,900 $7,143,794 % Chg $ -10.56% -26.68% 33.66% 23.83% 17.76% -21.56% # Sold 28 17 25 29 34 31 % Chg # -9.68% -39.29% 47.06% 16.00% 17.24% -8.82% Avg $ $227,621 $274,865 $249,822 $266,693 $267,879 $230,445 % Chg Avg -10.56% -26.68% 33.66% 23.83% 17.76% -21.56%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 21
SOUTH COUNTY RESIDENTIAL SALES Jan-Sept 2010 2011 2012 2013 2014 2015 Lenox
$ Sold $15,418,000 $10,445,600 $10,583,600 $11,354,000 $13,851,900 $13,120,125 % Chg $ 91.05% -32.25% 1.32% 7.28% 22.00% -5.28% # Sold 30 26 31 33 32 33 % Chg # 50.00% -13.33% 19.23% 6.45% -3.03% 3.13% Avg $ $513,933 $401,754 $341,406 $344,061 $432,872 $397,580 % Chg Avg 91.05% -32.25% 1.32% 7.28% 22.00% -5.28%
Monterey $ Sold $9,467,500 $3,913,000 $2,217,500 $7,441,500 $7,342,000 $5,269,500 % Chg $ 420.05% -58.67% -43.33% 235.58% -1.34% -28.23% # Sold 13 8 7 12 13 10 % Chg # 225.00% -38.46% -12.50% 71.43% 8.33% -23.08% Avg $ $728,269 $489,125 $316,786 $620,125 $564,769 $526,950 % Chg Avg 420.05% -58.67% -43.33% 235.58% -1.34% -28.23%
Mt Washington $ Sold $325,000 $1,565,000 $325,000 $525,000 % Chg $ -16.67% 61.54% # Sold 1 3 1 3 % Chg # 0.00% 200.00% Avg $ $325,000 $521,667 $325,000 $175,000 % Chg Avg -16.67% 61.54%
New Marlborough $ Sold $5,562,750 $8,324,000 $8,421,000 $8,684,000 $5,848,650 $7,781,675 % Chg $ 39.91% 49.64% 1.17% 3.12% -32.65% 33.05% # Sold 11 13 18 13 13 21 % Chg # 0.00% 18.18% 38.46% -27.78% 0.00% 61.54% Avg $ $505,705 $640,308 $467,833 $668,000 $449,896 $370,556 % Chg Avg 39.91% 49.64% 1.17% 3.12% -32.65% 33.05%
Otis $ Sold $4,410,500 $6,370,499 $11,957,500 $4,130,425 $5,779,500 $6,310,300 % Chg $ -1.08% 44.44% 87.70% -65.46% 39.93% 9.18% # Sold 12 21 26 15 21 19 % Chg # -14.29% 75.00% 23.81% -42.31% 40.00% -9.52% Avg $ $367,542 $303,357 $459,904 $275,362 $275,214 $332,121 % Chg Avg -1.08% 44.44% 87.70% -65.46% 39.93% 9.18%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 22
SOUTH COUNTY RESIDENTIAL SALES Jan-Sept 2010 2011 2012 2013 2014 2015 Sandisfield
$ Sold $1,313,500 $2,349,400 $2,345,900 $2,580,331 $5,139,500 $3,442,770 % Chg $ -39.68% 78.87% -0.15% 9.99% 99.18% -33.01% # Sold 5 6 9 12 9 12 % Chg # -37.50% 20.00% 50.00% 33.33% -25.00% 33.33% Avg $ $262,700 $391,567 $260,656 $215,028 $571,056 $286,898 % Chg Avg -39.68% 78.87% -0.15% 9.99% 99.18% -33.01%
Sheffield $ Sold $4,983,500 $6,945,500 $9,382,600 $6,088,000 $6,673,000 $10,005,000 % Chg $ 35.84% 39.37% 35.09% -35.11% 9.61% 49.93% # Sold 22 21 26 22 20 27 % Chg # 100.00% -4.55% 23.81% -15.38% -9.09% 35.00% Avg $ $226,523 $330,738 $360,869 $276,727 $333,650 $370,556 % Chg Avg 35.84% 39.37% 35.09% -35.11% 9.61% 49.93%
Stockbridge $ Sold $6,404,000 $4,971,750 $9,201,300 $15,929,200 $14,638,300 $9,431,546 % Chg $ 36.37% -22.36% 85.07% 73.12% -8.10% -35.57% # Sold 16 11 23 33 29 21 % Chg # 33.33% -31.25% 109.09% 43.48% -12.12% -27.59% Avg $ $400,250 $451,977 $400,057 $482,703 $504,769 $449,121 % Chg Avg 36.37% -22.36% 85.07% 73.12% -8.10% -35.57%
Tyringham $ Sold $1,855,000 $1,475,000 $600,000 $425,000 $2,028,000 % Chg $ 574.55% -20.49% -59.32% -29.17% # Sold 4 2 2 1 4 % Chg # 300.00% -50.00% 0.00% -50.00% Avg $ $463,750 $737,500 $300,000 $425,000 $507,000 % Chg Avg 574.55% -20.49% -59.32% -29.17%
West Stockbridge $ Sold $4,160,000 $4,541,800 $2,870,500 $5,112,000 $5,734,500 $2,897,000 % Chg $ -1.60% 9.18% -36.80% 78.09% 12.18% -49.48% # Sold 11 12 8 13 12 8 % Chg # 37.50% 9.09% -33.33% 62.50% -7.69% -33.33% Avg $ $378,182 $378,483 $358,813 $393,231 $477,875 $362,125 % Chg Avg -1.60% 9.18% -36.80% 78.09% 12.18% -49.48%
© Berkshire County Board of REALTORS: Believed to be accurate but not warranted | 2015 Third Quarter | Page 23
A LOOK AHEAD: APPLICATIONS FOR PURCHASE MORTGAGES: TRID EFFECTS? • Nationwide, applications for purchase mortgages surged +11.9 percent for the week ending November
13th after a tepid 0.1 percent gain in the prior week, but the 4-week moving average remains strong.
• The volume of applications surged in the lead up to the implementation of the new Know Before You Owe (KBYO or TRID) rules on October 3rd, pulling forward many applications that would have registered later in October. A boom and bust pattern developed in subsequent weeks, which appears to have stabilized and gained traction with a new crop of buyers.
• The average contract rate on a 30-year fixed inched 6 basis points higher to 4.18 percent. Though slightly up from last week, it is roughly in line with the 4.17 percent average rate at the same time in 2014.
• Rising rates tend to have a stronger impact on refinances than on purchase applications, but refinance gained only 2.0 percent lagging the outsized gains in the purchase market.
Report generated by Sandra J. Carroll, Chief Executive Officer, Berkshire County Board of REALTORS, Inc. 99 West Street, Pittsfield, MA 01201 | (413) 442-8049 Fax (413) 448-2852
Data derived from the Berkshire County Multiple Listing Service, Inc. Believed to be accurate but not warranted. Mortgage Rates Taken from FreddieMac historical Rates by Month. Purchase Application data from the National
Association of REALTORS.