Essex County August Housing Report 8/10/2021 - Covid 19 Recovery
Single Family, Condo and Multi-Family median sold prices up strongly from last year, +12.8%, +8.7% and +22.0% respectively, reflecting the continuing inventory shortage and record low mortgage rates.
Month Over Month, July 2021 vs June 2021
Median Sales Prices Softened - Price Resistance?:
Single Families -5.5%; Condos -3.8%; Multi-Families +3.9%
Unit Sales Down Substantially - Low Inventory & Price Resistance?: Single Families -9.3%, Condos -19.1%, Multi-Families -16.2%.
Active Listings (Inventory) Down:
Single Families -10.3%, Condos -14.2%, Multi-Families -2.0%
Year Over Year, July 2021 vs July 2020, prices up sharply, but unit sales down for Singles and Condos as inventory plummets
Median Sales Prices Up:
Single Families +12.8%; Condos +8.7%; Multi-Families +22.0%
Unit Sales Down for Singles and Condos:
Single Families -10.2% , Condos -10.4%, Multi-Families +38.8%.
Active Listings (Inventory) Continue to Plunge for Singles and Condos:
Single Families -39.8%; Condos -40.2%; Multi-Families +0.7%
To Download the full housing report go to: http://sullivanteam.com/pages/EssexCountyHousingReports