Real Estate Statistics September 2012
This past month at our office meeting, Charles V Cosgrove (Mr Chips) gave us a little in-site on the current market. Evaluating the market with Trend MLS, we got some great in-site on distressed sales, average price, dollar volume, unit sales and much more.
Let’s take a look at a few statistics for our local market.
Residential Resale Inventory by Month
As you can see over the past 4 years, with the amount of inventory on the market, it would have taken from 9 to 12.5 months to sell out.
If you look at the current market for 2012, the inventory has been declining over the year, which indicates more sales were occurring in 2012.
Also as you can see June to August of 2011, we were carrying the most inventory, and was taking over a year to sell out of the current listings.
Berks County Resale Inventory
The above chart is just for Berks County. As you can see Berks County, had pretty much the same trends as the local Eastern Pa market. Currently with the number of homes on the market, it would take Berks County 8.94 months to sell out of inventory.
Currently in Berks County, listings are taking an average of 113 days on market to sell. This has slowly increased over the years since 2003.
Berks County Average Sales Price
Since 2003 the average sales price in Berks County increased each year. In 2009, the average sales price decreased over $30,000 from the prior year, and continued to decrease.
In 2012, this year was the first time we have seen a slight increase in the average sales price in Berks County since the housing market crashed.
What are your thoughts for the Berks County market for 2013? Do you think we will continue to increase?