The Long & Foster Market Minute

Focus On: Berks County Housing Market July 2019

Units Sold
529
Active Inventory
1,111
Median Sale Price
$184,043
Days On Market
37
Up 3%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 529 sold this month in Berks County Real Estate versus 544 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 3% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 337 units or 23%. The total number of active inventory this July was 1,111 compared to 1,448 in July 2018. This month's total of 1,111 is lower than the previous month's total supply of available inventory of 1,136, a decrease of 2%.

Median Sale Price
Last July, the median sale price for Berks County Homes was $179,000. This July, the median sale price was $184,043, an increase of 3% or $5,043 compared to last year. The current median sold price is 1% lower than in June.

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


New Listings
615
Current Contracts
495
Sold Vs. List Price
98.5%
Months of Supply
2.1
No Change
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In July, there was 2.1 months of supply available in Berks County, compared to 2.8 in July 2018. That is a decrease of 25% 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 615 homes newly listed for sale in Berks County, which is similar to the amount in July 2018. There were 495 current contracts pending sale this July, consistent with the volume a year ago. The number of current contracts is 1% higher than last month.

Sale Price to List Price Ratio
In July, the average sale price in Berks County was 98.5% 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 37, lower than the average last year, which was 46, a decrease of 20%.

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.