3rd Quarter Market Update, 2017

As the real estate market finished its 3rd quarter of 2017, residential sales in Clinton County were down 7.5% this quarter from the same time last year. The number of homes sold was down 7.3% at 179 vs 193.  A lack of home inventory may continue to be a factor.  Year to date, however, with 438 homes sold vs. 452 last year, Clinton County residential sales dollars are only 1.2% lower than 2016 at $64,317,745 vs $65,077,980. There has been a 2% increase in the average sale price in 2017 year to date from last year at $146,844 vs. $143,978.

In Essex County, the total sales volume for this quarter was 18% lower than last year in the same quarter. This change was due to the lower average price of homes sold at $258,903 in 2017 vs. $312,587 in 2016.  Year to date however, Essex County’s real estate sales are only 3.7% below 2016 with more homes sold, 236 vs 219.

Franklin County’s real estate market sales improved significantly, up 60.7% this quarter at $20,733,930 vs. $12,594,715 for the same quarter in 2016.  The average home sale price in this quarter was $196,446 vs. $127,219 in the same quarter in 2016, with 103 vs.99 homes sold.  Year to date sales are $41,809,330, up 31% from 2016, with the average home price at $177,158, up 31.6%.with only one more home sold in 2016, 237 to 236.