3rd Quarter Market Update
Having come off a record year, residential home sales volume for the first two quarters of 2015 was substantially lower than that of 2014. The real estate market, however, has been very active in the 3rd Quarter (July 1-Sept 30) this year. Home sales volume in Clinton County has been up 24% this quarter compared to the same period last year. Essex County residential sales were up by 17%, and Franklin County remained level with last year. Year to date, the market is now only 6% lower than last year’s record sales volume through this quarter.
There has been an increase in the number of residential real estate transactions in the region this year compared to 2014–up almost 6% with 762 properties sold so far in 2015 vs. 722 to date last year. The average price of a home sold in 2015 was $184,447 vs. last year’s average home sale of $207,753.
