Supply of houses for sale after Labor Day

As we enter the second phase of the 2015 home-buying season, I have looked at the supply of houses for sale after Labor Day and compared it with this time last year for every city and town in Essex County.

Overall, the supply has dropped from 4.4 months* to 3.9 for Essex County overall (and from 5.4 months to 4.7 for the whole of Massachussetts). The number of towns with supply of less than 3 months has increased from 6 to 10, while the number with more than 10 months of supply has dropped from 4 to 1.

These numbers confirm that the supply of homes for sale has widely decreased from a year ago.

Source: MLS, Oliver Reports

* I have calculated months of supply by dividing the current number of SFH houses for sale by average monthly sales for 2015.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Read Which broker should sell my house?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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