BERKLEY - MARKET REPORT OCTOBER 2008

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 October 1, 2008- October 31,2008.

Single Family Homes

Number of Homes on Market 38 (down 2 from last report)

Average Days on the Market 182 - down 6 (Let's keep on going!)

Number of Homes U.A.G 2

Average Price of U.A.G. Homes $324,900

Number of Homes Sold 4

Average Sold Price $259,125

~$312,913 As of October 3, 2008
~$435,000 As of September 3, 2008
~$0 As of August 16, 2008
~$334,250 As of July 9, 2008
~$317,800 As of June 12, 2008
~$418,333 As of May 1, 2008
~$286,833 As of April 8, 2008
~$180,000 As of March 8, 2008
~$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 $404,026

Lowest SALE Price $185,000
Highest SALE Price $315,000

MY LAST MARKET UPDATE WAS October 3rd AND THE AVERAGE SALE PRICE WAS $312,913 which represented 4 homes that sold. 2 Months in a row with a respectable number of home sales.

The number of home on the market is remaining relatively steady, but thankfully continuing to go down. The absorption rate has risen a bit, to slightly over 6 months of inventory. My prior 3 reports had shown a decrease in the absorption rate so I am hoping that this is only a hiccup.

How does this effect you?

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 6th month at a lower price than what you would have received had it been priced competitively in the beginning. Remember: Time is NOT on your side in a declining market.

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! I would rather see any seller get multiple offers to choose from than no offers at all.

Call me for a competent, accurate analysis of your home.

To view all Berkley homes on the market visit http://berkleyhomes.berkleymass.com

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