Housing inventory jumps sharply in September

The number of Single Family Homes (SFH) for sale in Essex County jumped 15% in September from a year ago, the fourth consecutive month of year-on-year increases, and reached the highest level since October 2016:

The number of condos for sale jumped 13% from a year ago, the fifth consecutive month of year-on-year increases, and reached the highest level since November 2016:

Comment

After several years of decline, inventory bottomed out in the first quarter of 2018 and has been increasing year-on-year for 4 months for SFHs and 5 months for condos. While actual levels remain well below those of 2015, it is clear that buyers are now seeing more options than they have in recent years.

Sagan Harborside Sotheby’s International Realty
www.SaganHarborside.com

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