The number of Accepted Offers is increasing
While still running well below the levels of last year (see chart below), the number of Accepted Offers (AO) for SFHs received in Essex County in the latest week shows increasing activity. In fact the number of AOs (with the probability that a few more will be reported tomorrow) last week was close to the number back in March when active\ivity was strong.
This is the chart I post each week showing the Year-on-Year increase compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019:
And this is the percentage change compared with the same week in 2019.
Ignoring the spike in week 16 as a result of the timing of Holy Week, the improving trend is clear as the percentage decline has slowed from around 50% to just over 30%.
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there and inventory remains low. Also, bear in mind that some sellers are requesting that their properties are not listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
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