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.
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 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.