Here's a quick rundown on the Spring market for single family homes in Essex, Hamilton and Wenham. The information below reflects the period from January 1 - July 31 unless otherwise indicated.

Single Families7/31/2015Compared to 7/31/2014
Total Market Volume$68,532,978Increased by 50%
Sold Listings112Increased by 49%
Average Days on Market133Decreased by16%
Average Sale Price$611,902Increased by 1%
Sale Price to List Price97No Change
Average Original Price$662,692Increased by 1%
Sale Price to Original Price94Increased by 1%

The most homes were sold in the $450,000 - $499,999 price range with 19 homes sold in that range. As of July 31, 2015, 90 single family homes were listed for sale. In July, 30 homes were sold. If the current rate continues, there are 3 months on inventory on the market. At this time last year, there were 121 homes for sale with 15 sold in July.

So what's this mean for you? It means that the market is picking up speed with more homes sold this year than last. Homes are selling for slightly more and with less days on market. With only 3 months of inventory on the market, now is the time to talk to a realtor about listing your home for the upcoming Fall Market or preparing your home for the January start of the 2016 Spring Market.