Essex County Annual Housing Report 1/23/2021 - Covid 19

For the comparative years: 2018 vs 2019 and 2019 vs 2020:

Median Sales Prices rose at an accelerated pace

2018 vs 2019, Median Sales Prices Rose:

+4.4% for Singles; +6.4% for Condos and +9.1% for 2-4 Units

2019 vs 2020, Median Sales Prices Rose:

+13.2% for Singles; +10% for Condos and 14.4% for 2-4 Units

The Number of Active Listings declined: 

2018 vs 2019, Change in Number of Active Listings (weighted average):

-5.7% Singles; +5.4% Condos and -19% for 2-4 Units

2019 vs 2020, Change in Number of Active Listings (weighted average):

-35.7% Singles; -26.1% Condos and -26.5% for 2-4 Units

Months of Inventory Fell (6 months is a balanced market):

2018 vs 2019, Change in Months of Inventory:

-10.7% to 2.5 months for Singles; + 4.3% to 2.4 months for Condos and -14.3% to 2.4 months for 2-4 Units

2019 vs 2020, Change in Months of Inventory:

-32% to 1.7 months for Singles; -25% to 1.8 months for Condos and -8.3% to 2.2 months for 2-4 Units

• To view data for every Essex County town, go to:  http://www.sullivanteam.com/Properties/Reports/Public/Charts.php
  
  To dowload the full Housing Report go to: http://sullivanteam.com/pages/EssexCountyHousingReports