Berks Housing Stats Report

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I just received the housing report for Berks County for the month of November. According to Trend MLS, 235 units settled in Berks County during November 2011. This is great news because that is 6.8% increase compared to November 2010.   Here is the breakdown:

Berks County Single Family Homes Summary Report

  • There are currently 3577 single family homes for sale in Berks, which is an 11.2% decrease over last year’s inventory for the area.
  • The average settled price of those listings was reported at $149,000, which is a decrease of 11.3% over last years numbers. So, we have less inventory than we did last year, but prices have adjusted as well.  As with the rest of the country, the increase number of  Berks County foreclosures and Berks County short sales is believed to be a contributor to the price adjustment for Berks.
  • There is currently an inventory level of 13.9, which indicates that based on current sales volume, it would take 13.9 months to deplete all the home for sale inventory.
  • 6 months is considered a balanced market, so this indicates it is still considered a “Buyer’s Market”, so sellers must be very sensitive to pricing their home for sale to avoid longer than average market times.
  • Currently, there are 236 homes that are currently sale pending, and 235 that closed in November 2011.
  • The average home sold for 89.3% of its listed price in November (and on a year to date, it is 89.8%)

November 2011 Berks Single Family Homes Full Report:
Berks Single Family Homes Report – November 2011

Berks County Condo Summary Report

  • There are currently 104 Condos for sale in Berks, which is an 15.4% decrease over last year’s inventory for the area.
  • The average settled price of those listings was reported at $136,000, which is a decrease of 9.3% over last years numbers. So, we have less inventory than we did last year, but prices have adjusted as well. As with the rest of the country, the increase number of foreclosures and short sales in Berks County is believed to be a contributor to the price adjustment for Berks.
  • There is currently an inventory level of 13.6 (a 9.7% increase over last year in November), which indicates that based on current sales volume, it would take 13.9 months to deplete all the home for sale inventory.
  • 6 months is considered a balanced market, so this indicates it is still considered a “Buyer’s Market”, so sellers must be very sensitive to pricing their home for sale to avoid longer than average market times.
  • Currently, there are 5 condos that are currently sale pending, and 9 that closed in November 2011.

 

If you are planning to buy or sell, it is important to choose an agent to work with that understands what is happening in the local Berks county real estate market in order to  secure the best deal possible with the best terms possible.  Contact me, Bill McCue, if you are interested in working together to sell your present home or to buy your next home in Berks County Pa.

November 2011 Berks Condos Full Report:
Berks Condos Report – November 2011

For more county specific data, check out the entire Market History Report, which details current and historical information for Single-Family and Condo listings over the last 10 years in Berks County.

Single Family Year To Date Report
Condo Year To Date Report

 

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