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Monthly Update with Nick. June 2024.

We hope you're enjoying the start of summer! Last week was incredible, with the Celtics' championship parade passing right by our office on Boylston Street. Seeing everyone come together and celebrate historic championship #18 for the boys in green was amazing!

Now, let’s shift gears and take a look at the real estate market. While many headlines talk about our current inventory rising and some listings staying on the market longer than a year ago, a comparison with 2019 shows that inventory levels are still historically low.  

Please note: We pulled data for the entire Massachusetts single-family market only. This was to ensure we had a large enough sample size to make the numbers more consistent for comparison.  

Key Real Estate Market Insights (MA Single Family Homes)

Inventory Levels:

  • 2019: On June 25, there were 12,155 listing units.

  • 2024: Today, there are just 5,173 listing units. That's a big drop, showing a tighter market with fewer homes available.

Average List Price:

  • 2019: The average list price was $851,727.87.

  • 2024: Now, the average list price has jumped to $1,487,900.89, a huge increase of about 75%.

Average Days on the Market:

  • 2019: Homes were on the market for an average of 67 days.

  • 2024: This year, homes are selling faster, with an average of just 36 days on the market.

Months Supply of Inventory:

  • 2019: The month's supply of inventory was 2.72 months.

  • 2024: Now, it's down to just 1.70 months, indicating we are still in a strong sellers' market.

These points highlight how dynamic our real estate market is. Whether you’re looking to buy, sell, or invest, our team is here to help you make the best decisions.

Feel free to reach out with any questions or if you need any assistance navigating the current market.


Nick Warren
Broker/Owner Berkshire Hathaway HomeServices Warren Residential

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