Residential real estate report for the Berkshires

Market Watch: Residential Market Update January – April 2021

Year to date, sales in 2021 were 21% higher than in 2020, and prices were higher, too.

April market comparisons with last year are skewed because we were at the onset of the pandemic in 2020.  We will focus instead on key metrics in year-to-date sales this year compared to last year. Our new listing count is up 5% to 442 new listings put on the market this year.  This is not surprising since mid-March sales were minimal due to the lockdown for COVID.

We had a 21% increase in the number of closed sales year-to-date. There were 391 residential homes sold in 2021 between January and April compared to 322 last year. The dollar volume transacted jumped significantly from $96 million to $156 million. Of course, the median sales price also rose given that sales pace, up now to a median sale price of $287,261 countywide in residential homes.

We are going into May with more pending sales than last year and inventory continues to be a significant issue, with only two months of inventory countywide in residential homes for sale. We continue to see high buyer demand, and we are hopeful for a robust spring market of new homes for sale. Without a change in either of those factors, it will be hard to maintain the same sales pace that we have experienced during the past year.  Full April 2021 Residential Market Report