BERKLEY - MARKET REPORT FEBRUARY 2008

Berkley, MA

Total Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from February 1, 2008- February 29,2008.

Single Family Homes

Number of Homes on Market              46 (UP 4 since last report)

Average Days on the Market             143

Number of Homes U.A.G                  1

Average Price of U.A.G. Homes         $306,400

Number of Homes Sold                    1

Average Sold Price                          $180,000              ~$344,250 As of  February 7, 2008            
                                                                                                          ~$349,000 As of January 8, 2008             
                                                                                                          ~$262,442  As of December 9, 2007
                                                                               ~ $243,125 As of November 7, 2007       
                                                                               ~ $645,500 As of October 4, 2007 
                                                                               ~ $331,000 As of Sept.1, 2007
                                                                                                         ~ $349,073 AS OF AUG. 4, 2007
                                                                                                         ~ $356,473 AS OF JUNE 24, 2007


Average Asking Price                       $438,370

Lowest SALE Price                            $180,000

Highest SALE Price                           $180,000

MY LAST MARKET UPDATE WAS FEBRUARY 7 AND THE AVERAGE SALE PRICE WAS $344,250. 

ONLY 1 home sale for the entire month of February! Right now there is 23 months worth of inventory on the market. What that means is if no more homes came on the market and all the current homes stayed on the market until they sold it would take 23 months for all the homes to be sold. 

How does that effect you?

Right now you have a 1 in 23 chance of selling your home in under the 23 month absorption time. Not great odds!

Better your odds for a more timely sale by pricing your home ahead of the curve! Pricing it AT the curve in a declining market will put you in line to sell on the 23rd month. Time is NOT on your side in a declining market.

Pricing behind the curve, well that will put you behind the market time which means more than the current 23 months. EEEKKK!!

Price it ahead of the curve and you will open your home up to the largest pool of potential buyers which will sharply lessen your market time AND increase your bottom line!

Call me for a competent, accurate analysis of your home.  We are in a market of "Equity Protection" and your agent needs to know and understand that. I DO!!!

Visit http://www.berkleymass.com/ for all your Bristol County Real Estate Needs!

Bobbie Files
REALTOR
Keller Williams Realty
508-238-5000 x.296  Office
508-789-0217  Direct
bobbiefiles@kw.com  Email