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Professional Real Estate Service in the Berkshires

September, 2012

2012 2nd Quarter Market Commentary

The first quarter of the year showed improvement over the previous year in all Berkshire real estate markets except land. The second quarter reflects continuing improvement in sales, with gains from both the second quarter of last year, and compared to the 1st quarter of this year. When reviewing the year-to-date sales figures shown below, the overall residential sales have increased at a rate of 16% over last year.

Sold volume is remaining fairly stable, with a reduction in average and median home prices. This is a combination of lower values, but also of affordable market segments moving more inventory. Our inventory of properties has remained constant over the inventory rates last year, which helps keep the market moving. The number of days that a property is on the market from listing to closing is fairly consistent as well.

A Look in Brief:

North Berkshire: January – June 2012
• Residential sales rose 30%
• Multifamily sales rose 75%
• Condominium sales rose 200%
• Land sales rose 350%

Central Berkshire: January – June 2012
• Residential sales rose 17%
• Multifamily sales rose 41%
• Condominium sales rose 120%
• Land sales rose 150%

Southern Berkshire: January – June 2012
• Residential sales rose 7%
• Multifamily sales declined 33%
• Condominium sales rose 23%
• Land sales declined 67%