North Shore housing inventory by price: still famine or feast

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While the low level of overall supply suggests we are still in a sellers’ market, the position varies dramatically by price.

Look at this table for SFHs:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

I think this demonstrates the buying frenzy that has occurred in recent months at the lower end. Naturally, there are fewer buyers as prices increase, but the low level of sales at the top end continues to baffle me.

Sales at $2,000,000 and above are taking place, but not on the North Shore to any great extent as this table shows:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

Maybe it’s just a timing issue, that as we are that much further out from Boston it just takes longer for buyers to step up here than in places closer to “the city”. Whatever the reason, in contrast to the lower end, the top end is a buyers’ market, at least for now.

Here are the numbers for condos by price. These show the same tight supply under $500,000, which is the vast majority of the condo market on the North Shore:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports