The single-family housing market in the area served by the Northeast Association of REALTORS® (NEAR) posted positive gains in all key indicators including median price, closed sales and inventory through the first six months of 2024, according to the housing market report released today by the association. Compared to the first half of 2023, closed home sales were up more than 4%, median selling price went up nearly 10% and the number of homes listed for sale grew by 12%.

“It has been a strong start to 2024 for our local housing market, and I believe we are positioned to continue our positive market trends through the balance of the year,” said Frances Markel, NEAR president. “Our area continues to attract buyers and, counter to the national trend, sellers are returning to the market driving new home listings up by nearly 20% compared to last year.” 

“Continued moderation in mortgage rates coupled with an increasing number of options for buyers should help fuel closed home sales for the balance of the summer and into the fall,” Markel said. “Competition for newly listed homes remains brisk, making it important for buyers to be prepared and avail themselves of the professional counsel provided by REALTORS® to help them meet their goals.”

The 1,091 closed single-family homes in the first six months of 2024 represented an increase of 4.2% compared to the same period in 2023.  The June 2024 closed single-family sales total of 274 represented a decrease of 6.8% from the June 2023 total of 294.  

The median sales price through the first half of the year was $675,000, an increase of 9.8% compared to the same period in 2023. The June median sales price was $744,500, up 7.9% from June 2023.

 There were 1,615 single-family homes listed for sale through the first half of the year, an increase of 19.5% compared to a year ago. Homes were on the market an average of 28 days so far in 2024.

The complete report is available HERE.

Editor’s Note: All data is compiled from the MLS Property Information Network, Inc. and provided by the Massachusetts Association of REALTORS®. The data includes Andover, Billerica, Boxford, Carlisle, Chelmsford, Dracut, Dunstable, Lawrence, Littleton, Methuen, North Andover, Tewksbury, Tyngsboro and Westford.

The Northeast Association of REALTORS®, headquartered in Westford, MA, is the trade association representing approximately 2,000 REALTORS®. Since 1998, NEAR’s mission has been to advocate for private property rights, and provide its members with resources to foster their business success. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®.