1st Quarter Market Update, 2016

2016 has started off as a strong year in real estate sales in the North Country. In fact, 1st quarter increases are in double and triple digits compared to the 1st quarter of 2015. Home sales volume in Clinton County was up 42% from the same quarter in 2015, Essex was up 98% and Franklin was up 197%. Weather was definitely a contributing factor in creating this large difference. Our mild winter this year encouraged activity compared to the record cold of 2015.

This rise in sales volume was directly reflected in the increased number of homes sold in this quarter compared to last year at the same time. Clinton County had 120 residential transactions closed compared to 48 last year; Essex had 64 transactions compared to 21 and Franklin had 67 transactions when last year’s 1st quarter total was 19.

Looking at the overall real estate market in our 3 counties, total real estate transactions including both residential and commercial were up 80% from the 1st Quarter of 2015.

The 2nd quarter is also starting strong. With so many transactions at the beginning of the year, inventory is in shorter supply, making it an attractive market for sellers right now.