Housing Inventory by Price in North Shore towns
While conventional wisdom holds that a market is in equilibrium between buyers and sellers when the current inventory represents 6 months of sales, that overall number masks major differences which occur at different price points.
The tables below show the position by price for Essex County overall and for Marblehead, Swampscott, Salem, Beverly and Lynn.
Essex County
The table below breaks down supply at different price levels for Essex County overall.This shows that the dynamic between sellers and buyers changes as prices go above $750,000.
Housing Inventory guide by price
This report breaks down inventory by price for 5 North Shore towns, plus Essex County and Massachusetts. Overall, inventory is down 15-20% from last year’s low numbers and there is a pattern that is repeated pretty well everywhere: a decline, in many cases a sharp one, of inventory at lower prices.
Marblehead and Swampscott
Total inventory is unchanged, but note the drop under $500,000 and the increase in the $500,000 – $1 million range:
Salem, Beverly and Lynn
Salem has experienced an extraordinary drop in inventory of both SFHs and Condos. The biggest changes in Beverly and Lynn are, as elsewhere, at the lower end.
Essex County and Massachusetts
And so in both Essex County and Massachusetts: a big drop in inventory a the lower end
Source: MLS, Oliver Reports
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