Housing Inventory after Easter still low
It is quite common for houses to come to market right after Easter. Unfortunately – for the housing market at least – the date of Easter varies from year to year – rather like the weather. Easter was in late March in 2013 and 2016, April 20 in 2014 and April 5 last year. What this means is the inventory tables and charts below are post Easter for all except 2014.
Marblehead, Swampscott, Beverly and Salem
The biggest message from the tables below is that while inventory is flat to down compared with last year, there is a much larger drop compared with 2013 and 2014. These tables and charts show the numbers for each year and the change since 2013.
Essex County and Massachusetts
Looking more broadly at Essex County and Massachusetts we see a similar, if less pronounced, trend: flat to down a little from last year, a bigger drop since 2013 and 2014.
I shall look at the reasons inventory is still so low in a later article, but for now I shall just observe that with the economy doing quite well and mortgage rates close to all-time lows, demand for housing here on the North Shore continues to outpace supply. Econ 101 tells you what this means for prices going forward.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
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