Essex County 2018 Mid-Year Report
Want to know how the Essex County real estate market is doing? In this Mid-Year Report, we’re looking at home sales in Essex County for the first half of 2017 versus the first half of 2018 and how the market is currently performing.
As of June 30th, a total of 4,914 homes sold in Essex County at an average sale price of $465,780. These numbers include single-family homes, condominiums, and multi-family sales combined. The number of homes sold is down from last year at this time by a half a percent when 4,938 homes were sold. Prices increased by 4.48% from 2017 when they sold at an average of $445,274.
Homes Listed in Middlesex County:
From January 1st to June 30th, there were 6,999 homes listed on the market, up 2.21% compared to 6,848 within the same date range in 2017, which shows that inventory wasn’t down because homes weren’t on the market, but that the number of homes was not enough for the number of buyers out there.
Homes Pending in Middlesex County:
From January 1st to June 30th, there were 5,800 homes that went pending (contracts accepted), down 1.61% compared to 5,895 within the same date range in 2017.
The Essex County market has been relatively consistent with the overall trends in Massachusetts including the other county reports. Like many other areas of the state, prices increased and sales decreased slightly. Homes listed weren’t down dramatically despite the low inventory this year, but that is to be expected when supply can’t keep up with demand.