By Tom Lynch
Prior to the COVID pandemic, real estate agent Thom Garvey would see Berkshire County’s annual housing inventory consistently hover around 250 to 300 homes for sale. But when COVID hit, many city people decided life in the country would be a great idea, and country people were happy to accommodate them. Consequently, inventory jumped precipitously by 40% to 60%—as did prices.
Garvey, of William Pitt Sotheby’s International Realty, says sales are now back to pre-pandemic levels, but because inventory has dropped significantly, prices have remained high along with interest rates for borrowers. However, he believes things should improve as the Federal Reserve lowers interest rates in response to a continued drop in the rate of inflation. Garvey estimates about 90% of his sales remain to second home buyers, mostly from New York and southern Connecticut.
Ginger Conner, of Red Horse Real Estate, saw a similar surge during COVID and a leveling off now, but has also noted an increase in families purchasing homes in Becket for permanent residence.
She also reports an increase in land purchases, suggesting a future uptick in home-building. According to Paul Green, Becket’s Building Inspector, “Building has been in the range of eight new homes per year” since the pandemic ended. He has also seen “lots of additions.” Prior to the pandemic there were three to four new homes built per year.
A public record search reveals 58 homes sold in Becket over the two-year period from 2019 through 2020. In 2021, during the heart of the pandemic, there were 58 homes sold, matching the number of the two prior years combined. Since then, home sales have decreased to 52 in 2022, 44 in 2023, and 33 thus far in 2024.
If you’re getting ready to sell your home, Ms. Conner has some advice for attracting potential buyers.
First, spruce up the outside area to elevate curb appeal. Inside the home, the goal is to make it uncluttered, nearly sterile. For example, remove all personal items; buyers are not interested in seeing the 8X10 framed color glossy of your grandparents. Also, paint the interior if its current condition would distract a buyer, and add new toilets and appliances if what’s there now appears dated. The job is to make the place look new.
Then there is the septic system, and every home in Becket has one. Title 5 requires it to be inspected. If it fails, which many will, the seller has the responsibility to either replace it, or disclose it for the buyer to replace, which will, obviously, affect the price and, potentially, ward off prospective buyers.
Both Thom Garvey and Ginger Conner agreed the relatively recent build-out of high-speed internet in Becket has served to attract second home buyers. Even more important, it has been a magnet for new, permanent resident families, because it significantly enhances the educational experience of children in the Becket-Washington Elementary School. As Ms. Conner said, “If you don’t have children, you’ll lose your town.”
