4
The Southern Berkshires is a price-driven market. On average, properties that sell in the Southern Berkshires achieve 91% of their list price, a strong indicator that the region is currently a price-driven market. When a property is priced well, it is more likely to sell quickly. In the Berkshires, a fast sale means the sale occurs within the listing’s first 100 days on the market, as opposed to a typical days on market period of more than 300, according to Great Barrington assistant manager Timothy Donnelly.
5
The most desirable properties are those offered in turnkey condition. A consistent trend in every market we serve is that people are willing to pay more for a turnkey residence. Purchasers would rather not have to worry about completing updates and renovations, preferring to simply move right in and enjoy living in their new home.
Single Family Homes Closed Sales by Price Point CLOSED SALES
CLOSED SALES
% CHANGE
INVENTORY
3Q15
3Q16
3Q15 VS 3Q16
3Q AVERAGE
$0 - $399,999
96
83
-14%
484
$400,000 - $749,999
31
38
23%
257
$750,000 - $999,999
5
10
100%
80
$1,000,000 - $1,499,999
4
3
-25%
44
$1,500,000+
0
1
100%
67
PRICE POINT
160 acre Greek Revival Farm with Barns and Views • Hancock, MA • MLS: 217063
browse all mls listings and learn more about the market at
williampitt.com and juliabfee.com
MARKET WATCH • 23