Overview
Sales of new homes in the Pittsfield, MA market saw no change in March, staying flat after dropping a year earlier. Sales remained unchanged at none from last year after being one in March 2009.
Sales of New and Existing Homes Saw a Decline in March 2011
Following a decline a year earlier, sales of new and existing homes also declined in March. Sales of new and existing homes were 10 in March 2011, an 84.1% fall from a year earlier. Sales sank 30.8% to 63 units a year earlier.
The average price of new and existing homes actually decreased in March 2011, falling 9.5% to $238,760. This followed a 27.9% surge the year earlier to $263,890.
Foreclosures Showed Little Movement in March 2011
Foreclosures and real estate owned (REO) sales continued to decline from a year earlier in March and did not look to be a burden on the market. Combined, foreclosures plus REO sales represented 20.0% of existing home sales, below 34.9% of sales a year earlier. The percentage of existing home sales belonging to foreclosures went from 20.6% in March 2010 to 20.0% of sales in March 2011 and REO sales as a percentage of existing home sales dropped to no part of sales from 14.3% of sales a year earlier. Two years ago, foreclosures and REO sales made up 15.6% of existing home sales (6.7% foreclosures plus 8.9% REO sales).