October Market Update

Here is your market update for the month of October.

The above picture shows the stats for all of Berks county for the month of October. As you can see there were 520 total units listed, of those 504 are pending. The average days on market is 17 days and the average sold price is $266,287.

If we take a look at the Inventory Comparison chart you can see how low inventory is compared to last year. 454 units vs 546 units in November 2020. The average sales price is UP though.

What does this mean for you?

The market is still strong. Prices are holding steady and inventory is still exceptionally lower. For sellers, this is a great thing. With rates staying low it creates urgency for buyers to take advantage. And since inventory is low, this enables an extremely competitive market or sellers market. For buyers, with rates continuing to be at a historic low, are jumping on the homeownership bandwagon.

Overall we are in a great market all around. Berks county definitely needs more inventory though! So if you have been thinking about listing your home but are scared about finding a new one lets chat! I can help alleviate those worries :)

The above graph shows the trend of listings, pending sales, and closed sales over the past 12 months for Berks County. As we start to get into the “slow” winter season I expect those numbers to drop more.

Thinking of buying or selling a home? Check out my website, click on the Lets Make a Move tab where there is plenty of information on the buying and selling process. OR call/text/email me and we can talk more about your situation and see if now is a good time for you to make your move.