2024 Mid-Year Real Estate Update
As we reach the midpoint of 2024, the real estate market continues to display remarkable resilience. With 16 transaction sides sold, $8 million closed, and $13 million in the pipeline, the year has been marked by significant activity and success. I have been committed to navigating this vibrant real estate market, ensuring both sellers and buyers achieve their real estate goals.
Market Dynamics in Bristol and Plymouth Counties
In Bristol and Plymouth counties, the real estate market remains robust, particularly for homes priced below the median. Despite fluctuating interest rates, the market shows no signs of slowing down. Here are some key insights:
Inventory Levels: Inventory is down by 6% compared to last year, although the last two months have seen an increase to 1.9 months of supply.
Median Sales Prices: The median sales price has increased by 10% in Plymouth County, reaching $625,000, and by 11% in Bristol County, now at $510,000.
Speed of Transactions: Homes are receiving offers quickly, with an average of just 8 days to receive an offer.
A Strong Seller’s Market
The local markets in Bristol and Plymouth counties are experiencing strong seller conditions, especially for homes in good condition and accurately priced. Multi-bid scenarios and over-asking offers have become common, reflecting high demand and competitive buyer activity.
Opportunities for Buyers
While the overall market favors sellers, there are still opportunities for buyers, particularly in certain pocket markets. For those looking to sell and buy simultaneously, there have been numerous success stories this year. My expertise has been instrumental in helping clients navigate these transactions smoothly and successfully.
Partner with me for Real Estate Success
Whether you're looking to sell, buy, or both, partnering with me ensures a tailored real estate strategy that aligns with your goals. Don't let the complexities of selling your home hold you back. Contact me today for personalized guidance and support to ensure a successful and stress-free sale.
