September 2024 Market Snapshot

The Massachusetts real estate market in September 2024 saw some favorable shifts for buyers, while also presenting unique opportunities for sellers. The table below highlights the month-over-month changes across single-family, condominium, and multi-family properties:

Key Insights and Opportunities

• Single Family Homes: The market is providing more options for buyers as the average and median sale prices have slightly softened compared to August. Properties are taking a few extra days to sell, which allows buyers more time to make decisions. Sellers can still benefit from a strong Sale-to-List Price Ratio, showing that homes are still selling close to their listed prices, which reflects the ongoing demand for single family homes.

• Condominiums: With prices moderating, buyers looking for condominiums can take advantage of a wider range of options at a lower price point. The slight increase in days on market means buyers have a little more breathing room to explore before deciding. Sellers, on the other hand, can focus on presenting their properties in the best light to capture the interest of serious buyers, as demand remains steady, and properties continue to sell near their list prices.

• Multi-family Properties: The multi-family market is proving to be a bright spot, with both median and average sale prices increasing. This signals strong demand for investment properties, making it an ideal time for sellers to consider listing. Buyers looking to invest in multi-family homes should be prepared to act quickly, as the steady demand keeps competition high despite a slight increase in days on market.

Key Takeaways

The September 2024 market offers diverse opportunities for both buyers and sellers. Buyers can benefit from slightly lower prices in the single-family and condominium markets, along with more time to make informed decisions. Sellers, meanwhile, can take advantage of the continued demand across all property types, especially in the multi-family sector, where prices are still climbing. No matter your real estate goals, now is a good time to assess the market and explore your options.

Contact The Rasner Group for Detailed Insights

If you’re looking for a more in-depth analysis of specific towns or neighborhoods, feel free to reach out directly:

• Phone: (617) 823-9780
• Email: [email protected]

I’m happy to provide personalized insights and help you navigate the current real estate market conditions, tailored to your unique area of interest.