The Long & Foster Market Minute

Focus On: Essex Housing Market June 2021

Zip Code(s): 21221
Units Sold
49
Active Inventory
57
Median Sale Price
$244,500
Days On Market
12
Down -9%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -64%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 49 sold this month in Essex Real Estate versus 55 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 9% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 17%. The total number of active inventory this June was 57 compared to 69 in June 2020. This month's total of 57 is lower than the previous month's total supply of available inventory of 62, a decrease of 8%.

Median Sale Price
Last June, the median sale price for Essex Homes was $212,250. This June, the median sale price was $244,500, an increase of 15% or $32,250 compared to last year. The current median sold price is 11% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
74
Current Contracts
68
Sold Vs. List Price
101.1%
Months of Supply
1.2
Up 30%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -9%
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Essex, compared to 1.3 in June 2020. That is a decrease of 9% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 74 homes newly listed for sale in Essex compared to 57 in June 2020, an increase of 30%. There were 68 current contracts pending sale this June compared to 59 a year ago. The number of current contracts is 15% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Essex was 101.1% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 33, a decrease of 64%.

The Long & Foster Market Minute Essex are defined as properties listed in zip code/s 21221.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.