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A Message from
Our CEO, Erm Grasso
It's time to present another round of Quarterly Market Insights, where we review numbers from last quarter (and last year) and see what insights can be found when comparing them to previous years.
Looking back on 2024, it's clear the year presented its challenges, with the market doubling down on inventory issues and frustrated buyers facing growing expectations from sellers as prices continued to rise. These conditions are quite familiar to our brokers and agents, however, and our industry remains healthy and strong.
Even though the number of home sales in the U.S. fell to the lowest level since 1995, we saw an increase in units sold here in Massachusetts. Single-family transactions were up 4.37% compared to 2023. Sales volume was up 12.24% due to the average sales price climbing to $809,665, which was an increase of more than 7% in one year.
2025 will be very interesting. Mortgage rates, inventory, and macroeconomics will play into the future of the market. But for now, we continue on the same path as we start the new year.
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