Looking back at the real estate market in 2024, the towns northwest of Boston saw slight but steady growth. Sale prices increased incrementally compared to 2023, with Westford and Winchester reporting gains of 7%. Demand remained robust, and homes continued to sell quickly, with days to offer hovering around 20 in Bedford and Concord – a drop of around 20% from 2023 number. In Acton, where days to offer increased slightly, the average was still just 16 days, a reminder of how swiftly homes were moving even in a slightly cooler market.
The number of homes sold presents a mixed picture, with results varying town by town. Lexington saw a 9% decline in listings sold, while Winchester enjoyed a significant 30% increase. These variations underscore the importance of understanding hyperlocal market dynamics. One consistent trend across all towns was that sale prices are still, on average, 2-3% higher than list prices. This marks a continued leveling off from the bidding wars of earlier years, but shows that the market is still slightly tipped in favor of the seller.
Overall, 2024 showed modest improvement on 2023, with some areas seeing notable gains in volume sold. Winchester, for example, stood out with strong growth in activity, while Lexington experienced a slight dip. Heading into 2025, the momentum seems to be building—our agents are reporting a busier-than-usual January, with more listings in the pipeline than we typically see at this time of year.
Whether you’re buying, selling, or simply watching the market, the year ahead promises plenty of opportunities. Connect with one of our experienced local agents to discuss the trends in your specific town or area of interest. We’re here to help you navigate the market with confidence in 2025!
