Early Market Signs in 2024?
Sorry to report that it’s too early to tell how our local markets will fare in 2024. Of course, outside of interest rates, the factor we’re watching most closely is inventory.
We’re already seeing buyers clamoring for the limited available listings in local markets across four counties. Anecdotally, multiple offers, heavily trafficked open houses, and listings selling for well above their asking prices.
Too early to tell, but markets like Dedham and Somerville are fueling the hope that buyers will have more to choose from in 2024.
Will we see another brutal year for buyers and a banner one for sellers? What do you think?
So far, there are no real signs that we’re going to see a surge in market inventory. We’re slightly ahead of last year’s new listings by this point in March, but not enough to suggest we’re going to see the inventory open up like a surplus sale at a candy store.