MARKET REPORT FOR BERKLEY, MA AS OF OCTOBER 1, 2007

Berkley, MA

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 August 1, 2007- September 1,2007.

Single Family Homes

Number of Homes on Market 50 (Up 3 since last report)

Average Days on the Market 135

Number of Homes U.A.G 5

Average Price of U.A.G. Homes $307,420

Number of Homes Sold 2

Average Sold Price $645,500 $331,000 As of Sept. 1, 2007 ~ $349,073 AS OF AUGUST 4, 2007 ~ $356,473 AS OF JUNE 24, 2007***

Average Asking Price $421,204

Lowest Price $205,000

Highest Price $1,095,000

MY LAST MARKET UPDATE WAS SEPTEMBER 1 AND THE AVERAGE SALE PRICE WAS $331,000 THIS MARKET AVERAGE IS DIFFICULT TO USE FOR THIS MONTH AS THERE WERE ONLY 2 SALES WHICH IS CONSIDERABLY LOWER THAN THE LAST SEVERAL MONTHS AND 1 OF THE SALES WAS A HIGH END WATERFRONT HOME WHICH DOESN'T LEAVE AN ACCURATE BASIS FOR THE AVERAGE MARKET.

WITH ALL THAT BEING CONSIDERED I MADED A SEPERATE CATEGORY FOR HOMES U.A.G. WHICH ARE HOMES THAT HAD AN OFFER MADE AND ACCEPTED AND ARE WAITING TO CLOSE.

IF I TAKE THE AVERAGE PRICE OF THE HOMES THAT ARE U.A.G. AND THE AVERAGE PRICE OF THE HOMES THAT HAVE SOLD - DROP OFF THE HIGHEST AND LOWEST SALE PRICE THE AVERAGE IS $340,920. KEEP IN MIND THIS IS USING THE ASSUMPTION THAT THE HOMES THAT ARE U.A.G. SOLD FOR THEIR ASKING PRICE.

USING SALES OF HOMES THAT SOLD 3 OR 6 MONTHS AGO AS A BASIS OF VALUE FOR YOUR OWN WILL NOT GIVE AN ACCURATE CURRENT MARKET VALUE. AS YOU CAN SEE, IN THE PAST SEVERAL MONTHS HOME PRICES HAVE DROPPED CONSIDERABLY. MY FIRST REPORT TOOK FROM JANUARY TO JUNE AS A BASIS, THE SECOND REPORT WAS FOR JULY, THE THIRD REPORT WAS FOR AUGUST, AND THIS REPORT IS FOR SEPTEMBER. THIS SHOWS THAT HOMES IN BERKLEY HAVE DECREASED IN VALUE 7% SINCE JANUARY 1.