February 2024 brought 4.38 million in sales, a median sales price of $384,500, and 2.9 months of inventory. The median sales price is up 5.7% year-over-year, and inventory was up 0.3 months from February 2023. Source: National Association of REALTORS® (NAR).
Existing-home sales surged 9.5% in February to a seasonally adjusted annual rate of 4.38 million, the largest monthly increase since February 2023. Sales declined 3.3% from the previous year.
The median existing-home sales price elevated 5.7% from February 2023 to $384,500 – the eighth consecutive month of year-over-year price gains.
The inventory of unsold existing homes increased 5.9% from one month ago to 1.07 million at the end of February, or the equivalent of 2.9 months’ supply at the current monthly sales pace.
Are you interested in learning more about how our local real estate market is performing or what your home is worth in today’s market? Reach out today - 617-620-7649.