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Pittsfield, MA Local News

Pittsfield, MA - Freshest New Home Sales Stay Level

Posted on: Jan 10, 2012 09:31:17 AM

The Pittsfield, MA market saw no change in new home sales year-over-year in October, staying relatively stable after having decreased year-over-year in September. Sales remained level at none from a year earlier after the figure moved from two in September 2010 to none in September 2011.

A total of six new homes were sold during the 12 months that ended in October, equal to the number of new homes sold for the year that ended in September.

Following a year-over-year decline in September, sales of new and existing homes also declined year-over-year in October.

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Other Market Trends

Foreclosures and real estate owned (REO) sales did not appear to be dragging the market. Combined, foreclosures plus REO sales accounted for 23.0% of existing home sales. In October 2010, they made up 27.4%. The percentage of existing home sales involving foreclosures rose to 13.5% in October from 10.7% a year earlier while REO sales as a percentage of existing home sales dipped to 9.5% from 16.7% a year earlier.

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