The Long & Foster Market Minute

Focus On: Berks County Housing Market January 2019

Units Sold
249
Active Inventory
1,006
Median Sale Price
$156,000
Days On Market
57
Down -21%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -8%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 249 sold this month in Berks County Real Estate versus 339 last month, a decrease of 27%. This month's total units sold was lower than at this time last year, a decrease of 21% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 442 units or 31%. The total number of active inventory this January was 1,006 compared to 1,448 in January 2018. This month's total of 1,006 is lower than the previous month's total supply of available inventory of 1,165, a decrease of 14%.

Median Sale Price
Last January, the median sale price for Berks County Homes was $154,143. This January, the median sale price was $156,000, an increase of 1% or $1,857 compared to last year. The current median sold price is 3% lower than in December.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
363
Current Contracts
370
Sold Vs. List Price
97.2%
Months of Supply
4.0
Down -18%
Vs. Year Ago
Up 9%
Vs. Year Ago
No Change
Vs. Year Ago
Down -12%
Vs. Year Ago

Months of Supply
In January, there was 4.0 months of supply available in Berks County, compared to 4.6 in January 2018. That is a decrease of 12% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 363 homes newly listed for sale in Berks County compared to 445 in January 2018, a decrease of 18%. There were 370 current contracts pending sale this January compared to 339 a year ago. The number of current contracts is 9% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Berks County was 97.2% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 57, lower than the average last year, which was 62, a decrease of 8%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.