Berkley Market Report - As of December 9 2007

Buyer's Market

Labor Market: Employment declined by 538 jobs in July and August. The job losses brought about an increase in the average monthly unemployment rate from 5.7% in the second quarter to 6.1% for the first two months of the third quarter. Despite the job losses, the job situation still remains strong in Bristol County. Combined with historically low mortgage rates, employment will help to build up demand for housing.

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 November 1, 2007- December 1,2007.

Single Family Homes

Number of Homes on Market 42 (Down 5 since last report)

Average Days on the Market 135

Number of Homes U.A.G 4

Average Price of U.A.G. Homes $386,325

Number of Homes Sold 4

Average Sold Price $262,442 ~ $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 $289,575

Lowest SALE Price $189,771

Highest SALE Price $400,000


MY LAST MARKET UPDATE WAS NOVEMBER 7 AND THE AVERAGE SALE PRICE WAS $243,152.

AS YOU CAN PLAINLY SEE THE SALE PRICES IN BERKLEY AS WELL AS MOST OTHER AREAS IN BRISTOL COUNTY HAVE DROPPED CONSIDERABLY.

Many of the recent sales in Berkley as well as Bristol County are foreclosed homes. Foreclosed home sales bring down the value of every other home for sale. Buyers do not care who owns the home if they can get a $20,000 to $50,000 savings on it. Competing with these properties is tough. You need to make sure your home is in Tip Top condition, shows beautifully and is easy for a buyer to see.

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