2024 Year in Review Housing Market Stats
Juan Murray
Juan got his start in the residential real estate market in 1994 and has never looked back...
Juan got his start in the residential real estate market in 1994 and has never looked back...
JP Housing Market Stats 2024 vs. 2023
The Jamaica Plain real estate market remained resilient in 2024, with home prices rising despite a slight slowdown in sales activity. The median sales price increased by 8.8% to $800,000, up from $735,000 in 2023, demonstrating strong buyer demand and limited inventory that kept values high.
However, closed sales dropped by 4.3%, from 371 in 2023 to 355 in 2024, suggesting that while demand remained, fewer transactions occurred—possibly due to affordability challenges or fewer listings. At the same time, the median days on market increased by 5% to 21 days, compared to 20 in 2023, indicating that while homes still moved efficiently, buyers took slightly longer to make decisions.
For sellers, the market presented an opportunity to capitalize on rising prices, though slightly longer market times required strategic pricing and strong marketing efforts. Buyers had some relief with fewer bidding wars, but with prices continuing to climb, waiting often meant paying more.
Whether you’re looking to buy or sell, understanding these market trends is key to making informed decisions. If you have questions about your next real estate move, let’s connect!
Data includes condo, single-family, and 2-4 family multis and is provided by MLSPIN and Domus Analytics
355
Homes Sold In 2024
21
Median Days on Market
$800,000
Median Sales Price
102%
List Price to Sales Price
On the Market Listings for JP
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Cambridge Housing Market Stats 2024 vs. 2023
The Cambridge real estate market remained strong in 2024, with home prices continuing to rise despite a slight dip in sales activity. The median sales price climbed to $1,150,500, reflecting an 8.5% increase from $1,060,000 in 2023, reinforcing the area’s high demand and limited inventory.
However, closed sales declined slightly by 1.4%, dropping from 657 in 2023 to 648 in 2024, signaling a slight slowdown in transaction volume. Meanwhile, median days on market remained stable at 20, unchanged from the previous year, showing that well-priced homes continued to move efficiently.
For sellers, rising prices offered a favorable opportunity to maximize returns, though slightly fewer transactions meant strategic pricing and marketing were key. Buyers faced continued competition, with prices rising and homes selling at a steady pace. Overall, Cambridge remained a highly competitive market, favoring well-positioned sellers while offering buyers a steady but premium-priced market.
Whether you’re looking to buy or sell, understanding these market trends is key to making informed decisions. If you have questions about your next real estate move, let’s connect!
Data includes condo, single-family, and 2-4 family multis and is provided by MLSPIN and Domus Analytics
648
Homes Sold In 2024
20
Median Days on Market
$1,150,500
Median Sales Price
102%
List Price to Sales Price
On the Market Listings for Cambridge
Get instant access to the latest properties to hit the real estate market.
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