The Berkshire Mountains are home to the top housing market in the country, according to the latest Wall Street Journal/Realtor.com Housing Market Ranking. The Pittsfield, Massachusetts, metro area, which encompasses the wider Berkshires region, jumped to No. 1 in the second quarter, up from 52nd place less than a year ago.
Buyers are drawn to the area’s high quality of life, amenities, and favorable commuting times, said Nick Geranios of William Pitt Sotheby’s International Realty. “Buyers now are looking for value and quality of life,” he explained. “They’re looking for some authenticity.”
Luxury is no longer just about a high price tag, Geranios said. “It can be time, access, quality of life and community.” Pittsfield offers a great quality of life, a welcoming community, and is at the center of everything, he added.
The city is the hub of the Berkshires, with major arts venues like Tanglewood, Jacob’s Pillow, and the Massachusetts Museum of Contemporary Art. Outdoor activities like hiking and skiing are also plentiful.
Related: Rich buyers snap up Mallorca mountain homes
The quarterly Wall Street Journal/Realtor.com Housing Market Ranking analyzes key housing market data, as well as economic and lifestyle metrics. The Pittsfield metro area posted the highest amenities score and the shortest average commute time, at just over 20 minutes.
Pittsfield is the first metro area with a population below 150,000 to lead the ranking, and its size worked in its favor, according to Anthony Smith, senior economist at Realtor.com. The cost of living in Pittsfield is also the most favorable in the field relative to the broader Northeast.
The real estate market is competitively priced, with luxury prices growing 5.9% year over year in the second quarter to $1.9 million. This makes it one of the lower-priced luxury markets in the index’s top 10.
In comparison, luxury prices in Boulder, Colorado, which placed second, stood at $3 million, while in San Jose, California, they were $3.2 million.
Related: New photos of Donna Summer’s SoCal downtime
Demand for housing in Pittsfield is varied, with buyers coming from across the country, said Selina Lamb, founder of Birch Properties. They’re often seeking a base that’s easy to get to and memorable, where their family can gather.
Pittsfield delivers “access to the entire Berkshire experience,” while remaining “one of the region’s most compelling value opportunities,” said Selina Lamb, founder Birch Properties. The market has been on a “very steady march,” Lamb said. “I’m bringing clients there and telling them ‘I can protect your investment here, and you’ll see upside quickly.’”
The pool of inventory on offer spans lakefront homes, historic properties, classic New England architecture, and modernist properties.
