3rd Quarter Market Update, 2018

Clinton County

We’ve reached the end of 3Q2018, and residential real estate sales volume in Clinton County has seen a 25.5% increase vs 3Q2017. YTD 2018 sales volume increased 8.5% over 2017. We believe the rising interest rate environment is motivating buyers to act as they recognize the cost savings that naturally occur with a lower interest rate. Single family home inventory has been generally stable year over year. 204 homes were sold in 3Q2018 compared to 179 in 3Q2017, a 14% increase. This quarter has also moved other year-to-date indicators positive: the average home price is up 4% to $152,719, and the number of homes sold to date is 457 compared to 438 at this time in 2017.

Essex County

In Essex County, year to date residential real estate sales are $86,651,000 vs $66,451,000 in 2017, a 30% increase. More homes were sold through September-258 vs. 237 in 2017-with the average sales price at $335,857 in 2018 vs. $280,384 in 2017 through this period.

Franklin County

Franklin County real estate transactions continued lower in this quarter bringing the year-to-date sales volume to $30,409,000 vs $42,357,00 in 2017. 219 homes were sold year to date vs 240 last year through September. The current average sales price is $138,854 vs. $176,488 year to date in 2017.