Housing Inventory down 20%

Housing inventory is down just over 20% from last year in the whole of Essex County and is down by a quarter since 2014. The drop from 2014 to 2015 was quite modest, but has been sharp over the last year. Just 3 of Essex County’s 34 cities and towns show an increase in supply from last year, with 31 showing declines, in many cases substantial ones.

As sales for September are updated in MLS over the next few days I will publish an article showing the inventory in terms of months of supply based upon sales for the last 3 and last 12 months.

Here are the numbers by town:

Source: MLS, Oliver Reports

Comment
Low mortgage rates, an economy growing steadily if not spectacularly and low inventory continue to drive the market in Essex County.

If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.

Not sure which broker to use to sell your home? Read  Which broker should I choose to sell my house?

If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.

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

@OliverReports