Suffolk County 2018 Mid-Year Report
Want to know how the Suffolk County real estate market is doing? In this Mid-Year Report, we’re looking at home sales in Suffolk 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 4,167 homes sold in Suffolk County at an average sale price of $709,115, which is up 2.51% from last year at this time when prices were $691,724. The number of homes sold is up by 5.9% over last year when there were 3,935 homes sold in Suffolk County. These numbers include single-family homes, condominiums, and multi-family sales combined.
Homes Listed in Suffolk County:
From January 1st to June 30th, there were 5,486 homes listed on the market, up 3.61% compared to 5,295 within the same date range in 2017, depicting an increase in the inventory despite claims that inventory was the lowest in ever recorded. The inventory was actually there, it was just not able to keep up with the number of buyers.
Homes Pending in Suffolk County:
From January 1st to June 30th, there were 4,367 homes that went pending (contracts accepted), down 1.29% compared to 4,424 within the same date range in 2017.
The Suffolk County market has been relatively consistent with the other county reports as well as with the overall trends in Massachusetts. The number of homes listed was up slightly, pending numbers were down slightly, and prices increased. Suffolk County’s number of homes sold was also up, which differs slightly that what we generally saw in the other mid-year reports this year.