Essex County Q3 2019 Market Summary
Single Family Homes (SFH)
The median price of the SFHs sold in the 34 cities and towns of Essex County in the first 9 months of 2019 (YTD Q3 2019) increased 3.7% to $477,000, with the rate of gain increasing in Q3. Sales YTD increased 3.2%.
The median price of Condos/Townhomes sold YTD Q3 2019 increased 5.4%, to $315,000. Sales were essentially flat.
While the overall inventory at October 1 represented just 2.1 months of supply ( a market is considered to be in equilibrium between buyers and sellers when there is 6 months of supply) the number varies widely by price: from just 1 month for SFHs under $750,000, 3 months from $750,000 to $1.5 million; and nearly 14 months at prices over $1.5 million.
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
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