Essex County February Housing Report 2/8/2021 - Covid 19

Inventory remains at record low levels, Prices up strongly year over year, but Price Resistance Month over Month for Singles and Condos.

Month Over Month, Jan 2021 vs December 2020

• Median Sales Prices Down for Singles and Condos, Up for Multis:
 Single Families -2%; Condos -2.1%; Multi-Families +4.7%

• Unit Sales Plunged for Singles, Condos and Multis: â€¨
  Single Families -40.8%, Condos -37.6%, Multi-Families -29.4%.

• Active Listings (Inventory) Continue to Plummet: Single Families -33.1%; Condos -27.2%; Multi-Families -35.7% - record low inventory

Year Over Year, Jan 2021 vs Jan 2020

• Median Sales Prices Up Double Digit: Single Families +11.4%; Condos +10.9%; Multi-Families +11.1%

• Unit Sales Up: Single Families +0.9% and Condos +19.5% and Multi- Families +20.3%.

  • Number of Active Listings Plunged: Single Families -59.4%; Condos -47.0%; Multi-Families -44.1% - record low inventory