Homes For Sale in Berlin Market Report
Berlin sellers have certainly been aggressive - and patient - this year. And that combination has paid off.
Can’t see the chart? You can find it Here .
We see a big jump in prices, and it all happened very fast, with 16 of the the past 18 sales 3 months - just 2 sales in the previous 3 months. As a result, we see prices rebounding near their all-time high. The existing sellers aren't shy either, asking even more - $176 a square foot. On the downside though, we see inventory clearly building going into August, so I expect price changes for motivated sellers in the near term. The increase in inventory is the main reason the HSI has fallen under 110, and we're back to a pretty neutral market statistically, but seasonal patterns do not favor the sellers here.
What should active home buyers do in Berlin?
The good stuff is gone, and the prices are probably a little high for what is left. Be patient and smart - prices look like there will be a pull back, and that should restore some value for buyers.
What should potential home sellers do in Berlin?
Demand is good, but make sure your home is price right and showing well. If you haven't sold in the last three months, don't blame the market - the problem is how your home is positioned.
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Berlin Recent Houses For Sale and Sold Market Statistics - Raw MLS Data
- Berlin‘s “Home Seller Index” (HSI): 109 Last Report: 134
- There are 14 homes listed as For Sale.
Scales are tipping back to the buyer
- There have been 18 houses sold in the last 6 months, and 16 homes sold in the last 3 months in Berlin.
- The Average number of Days on Market was 83 days for justSOLD homes.
- There is an Average Market Time of 127 days of theBerlin homes For Sale (currently for sale).
- The amount that was paid in Dollars per Square Foot averaged $169 (vs. $159 )
- Current sellers are looking for 176 $/sq foot
- There was an Average Sold Price of $396,679 for sold homes.
- Berlin,MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
- There are 2 properties advertised as a short-sale is going to be needed by the lender.
*All statistics are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary, and is designed to offer town-by-town information, instead of large scale trends. (That means you won’t find it anywhere else. Take that, Case-Schilling!).
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