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Latest Housing Statistics in Massachusetts as of Nov. 2024

Writer's picture: Karen PackardKaren Packard

For the past few years, the biggest news in real estate along with the interest rates has been the low inventory.  As many areas of the country have changed from a seller’s market during the COVID years to a buyer’s market more recently, Massachusetts and especially our area in the Wachusett region has remained a seller’s market mainly due to the low inventory of homes and condominiums available to buy.

With limited homes for sale and many buyers looking to purchase in the Wachusett district the home prices have remained high and most listings are still selling quickly often with multiple offers.

September in the Wachusett district showed an average for the days on the market from listing to sold at 29.14 days.  And the average list price to final sold price was 102%.  October 2024 was almost the same average days on the market before closing was 29.39 and average list price to final sale price was 101%.  This shows most houses are still selling quickly and over the asking price.

According to the Massachusetts Association of Realtors (MAR), September showed a 34.7% increase in new listings for single family homes in Massachusetts.  In September, the median sale price for Massachusetts was down 3.2%, the closed sales decreased aby 22% and the new listings increased by 34.7%.  This was the third consecutive month that Massachusetts saw a decrease in median sales price for single family homes.   MAR also reported that this was the second consecutive month in closed sales being down 22% in September. 

The decrease in price with an increase in listings is a big change.  Those statistics plus the predicted change in the interest rates moving into 2025 might make it easier for buyers to purchase a new home.  It has been extremely competitive the past four years and buyers were having a difficult time finding a home that worked for them without getting into a bidding war on each property.  These latest statistics show that the market might be changing a bit moving into 2025.

If you have been thinking of making a change, now could be a great opportunity to buy a new home!  Please don’t hesitate to call or email me for more information or with any questions.  I am happy to help with any of your home buying or selling needs.



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