Housing Inventory in Gloucester and Rockport

Recently you’ve heard a lot about the lack of inventory.  It is a reality here on Cape Ann.  Well-priced properties are going under agreement fairly quickly.  The following two tables illustrate the situation in Gloucester (1st table) and Rockport (2nd table).

The table shows the number of single family homes that are currently on the market in each specific price brand.  The next column is how much of the total on the market properties that number represents.  The DOM column is the number of days those homes have been on the market.  Then, for Sold Listings, the table shows the same information.  By dividing the number sold by 12 months you get the number of sales per month.

Then go back to the first column and look at the number of homes FOR sale and compare that with the number of sales PER month and you will see how many months’ supply is on the market given the same rate of sales.

In Gloucester the average days on market for sold homes is well under 90 days (3 months) until you reach $500,000+ in list price.  The most interesting price point is $1,100,000 to $,199,999 where there are 4 active listings, in the price range all last year only 1 sold, therefore there is a 4 year (48 month) supply of homes for sale in that price range.

Months of Inventory by Price Band

Property Type: Single Family
Towns: Gloucester, MA

 

Price Band

Active Listings

Sold Listings
3/26/2016 - 3/25/2017

Sales Per Month

Months of Inventory

# Listings

% Total

DOM

# Listings

% Total

DOM

$92,300 - $99,999

0

0.00%

0

1

0.43%

20

0.1

0.0

$100,000 - $149,999

0

0.00%

0

4

1.72%

110

0.3

0.0

$150,000 - $199,999

0

0.00%

0

9

3.88%

59

0.7

0.0

$200,000 - $249,999

0

0.00%

0

18

7.76%

67

1.5

0.0

$250,000 - $299,999

1

2.63%

141

24

10.34%

43

2.0

0.5

$300,000 - $349,999

3

7.89%

85

31

13.36%

51

2.6

1.2

$350,000 - $399,999

2

5.26%

96

32

13.79%

56

2.6

0.8

$400,000 - $449,999

2

5.26%

72

28

12.07%

75

2.3

0.9

$450,000 - $499,999

0

0.00%

0

14

6.03%

77

1.2

0.0

$500,000 - $599,999

5

13.16%

78

20

8.62%

131

1.6

3.0

$600,000 - $699,999

4

10.53%

66

11

4.74%

124

0.9

4.4

$700,000 - $799,999

3

7.89%

331

12

5.17%

90

1.0

3.0

$800,000 - $899,999

1

2.63%

634

4

1.72%

254

0.3

3.0

$900,000 - $999,999

1

2.63%

25

4

1.72%

98

0.3

3.0

$1,000,000 - $1,099,999

0

0.00%

0

1

0.43%

10

0.1

0.0

$1,100,000 - $1,199,999

4

10.53%

273

1

0.43%

65

0.1

48.5

$1,200,000 - $1,299,999

2

5.26%

258

2

0.86%

92

0.2

12.1

$1,300,000 - $1,399,999

0

0.00%

0

1

0.43%

80

0.1

0.0

$1,400,000 - $1,499,999

2

5.26%

70

0

0.00%

0

0.0

no sales

$1,500,000 - $1,599,999

0

0.00%

0

1

0.43%

175

0.1

0.0

$1,600,000 - $1,699,999

0

0.00%

0

3

1.29%

207

0.2

0.0

$1,800,000 - $1,899,999

0

0.00%

0

2

0.86%

194

0.2

0.0

$1,900,000 - $1,999,999

0

0.00%

0

2

0.86%

58

0.2

0.0

$2,000,000 - $2,499,999

3

7.89%

48

5

2.16%

105

0.4

7.3

$2,500,000 - $2,999,999

2

5.26%

188

0

0.00%

0

0.0

no sales

$3,000,000 - $3,499,999

0

0.00%

0

1

0.43%

431

0.1

0.0

$3,500,000 - $3,999,999

1

2.63%

209

0

0.00%

0

0.0

no sales

$4,500,000 - $4,999,999

0

0.00%

0

1

0.43%

33

0.1

0.0

$5,000,000 - $5,999,999

1

2.63%

243

0

0.00%

0

0.0

no sales

$9,000,000 - $9,999,999

1

2.63%

689

0

0.00%

0

0.0

no sales

 

38

100%

169

232

100%

81

19.1

2.0

If there is no data in a price band, the price band is not displayed. 

Reports provided by iMaxWebSolutions.com

 

 

When you examine Rockport’s situation you see a different picture.  There are very few homes for sale below $500,000 (5 to be specific).  The ones under $500,000 that sold last year must have had significant problems in that their average time one market was between 145 and 250 days.  The 31 homes that sold between $300,000 and $499,999 were on market less than 60 days on average.

 

That is why I say, if your home is on the market for more than 90 days, the price is too high and it should be reduced because the longer a house stays on the market the less appeal it has for buyers.  They wonder what is wrong with it and begin to look at all its flaws.

Months of Inventory by Price Band

Property Type: Single Family
Towns: Rockport, MA

 

Price Band

Active Listings

Sold Listings
3/26/2016 - 3/25/2017

Sales Per Month

Months of Inventory

# Listings

% Total

DOM

# Listings

% Total

DOM

$155,000 - $199,999

0

0.00%

0

3

4.41%

140

0.2

0.0

$200,000 - $249,999

0

0.00%

0

1

1.47%

250

0.1

0.0

$250,000 - $299,999

0

0.00%

0

3

4.41%

247

0.2

0.0

$300,000 - $349,999

0

0.00%

0

5

7.35%

27

0.4

0.0

$350,000 - $399,999

3

15.79%

156

10

14.71%

60

0.8

3.6

$400,000 - $449,999

0

0.00%

0

8

11.76%

68

0.7

0.0

$450,000 - $499,999

2

10.53%

13

8

11.76%

48

0.7

3.0

$500,000 - $599,999

2

10.53%

22

11

16.18%

60

0.9

2.2

$600,000 - $699,999

1

5.26%

42

6

8.82%

49

0.5

2.0

$700,000 - $799,999

1

5.26%

93

1

1.47%

266

0.1

12.1

$800,000 - $899,999

0

0.00%

0

4

5.88%

95

0.3

0.0

$900,000 - $999,999

2

10.53%

132

1

1.47%

200

0.1

24.3

$1,100,000 - $1,199,999

0

0.00%

0

1

1.47%

14

0.1

0.0

$1,300,000 - $1,399,999

2

10.53%

346

1

1.47%

34

0.1

24.3

$1,400,000 - $1,499,999

0

0.00%

0

1

1.47%

237

0.1

0.0

$1,600,000 - $1,699,999

1

5.26%

284

0

0.00%

0

0.0

no sales

$1,800,000 - $1,899,999

1

5.26%

284

2

2.94%

80

0.2

6.1

$2,000,000 - $2,499,999

1

5.26%

194

2

2.94%

216

0.2

6.1

$2,500,000 - $2,999,999

2

10.53%

31

0

0.00%

0

0.0

no sales

$3,500,000 - $3,999,999

1

5.26%

24

0

0.00%

0

0.0

no sales

 

19

100%

130

68

100%

85

5.6

3.4

If there is no data in a price band, the price band is not displayed. 

Reports provided by iMaxWebSolutions.com