The MA housing inventory from 2023 to 2024 in Arlington, Belmont, Cambridge, Somerville, and Medford shows a large reduction of homes listed.
MA Housing Inventory 2024
On average the MA housing inventory thus far in 2024 is almost 50% less than the number of homes listed for sale in 2023. A majority of Condominium, Single Family, and Multi-Family homes listed this year is lower than we’ve seen in many years.
Below you will find a comparison of the 2023 and 2024 housing inventory for Arlington, Belmont, Cambridge, Somerville, and Medford MA. As I continue to monitor all market statistics closely, I will be updating this analysis regularly throughout the year.
How Does Housing Inventory Impact Sale Price?
The rule of supply and demand certainly applies to the real estate market. When demand for homes is higher than the available supply, stiff competition among home buyers will yield an increase to home sale prices.
For home sellers, low housing inventory levels may signal a very good time to sell your current home when there is less competition in the market. Bear in mind, our New England weather also plays a strong factor into the best time of year to sell!
For home buyers, it is important to understand every home is unique and not every home will sell over list price. There may be features that negatively impact the overall home value. Understanding the local market and current trends is extremely important for home sellers and home buyers. Contact me today to schedule a Home Buyer or Home Seller Consultation which includes a detailed review of the local real estate market.
To see more market statistics and home pricing trends, visit Market Statistics by Tamela
Arlington MA Housing Inventory
Compared to last year, there are 40% to 48% fewer homes listed for sale in Arlington MA which includes Condominium, Single Family, and Multi-Family residences.
| ARLINGTON | # Listed 2023 | # Listed 2024 | % Change |
| Condominium | 226 | 125 | - 45% |
| Single Family | 241 | 145 | - 40% |
| Multi-Family | 48 | 25 | - 48% |
Belmont MA Home Inventory
Belmont MA housing inventory in 2024 is 13% to 33% lower than 2023 for Condominium, Single Family, and Multi-Family residences.
| BELMONT | # Listed 2023 | # Listed 2024 | % Change |
| Condominium | 73 | 56 | - 33% |
| Single Family | 134 | 98 | - 27% |
| Multi-Family | 30 | 26 | - 13% |
Cambridge MA Housing Inventory
In 2024 there are 46% to 48% fewer Condominiums and Single Family homes listed for sale. This year 27% fewer Multi-Family homes are listed for sale in Cambridge MA.
| CAMBRIDGE | # Listed 2023 | # Listed 2024 | % Change |
| Condominium | 734 | 380 | - 48% |
| Single Family | 173 | 94 | - 46% |
| Multi-Family | 98 | 73 | - 27% |
Somerville MA Home Inventory
There are 17% fewer Single Family homes and 42% to 50% fewer Condominium and Multi-Family homes for sale in Somerville MA.
| SOMERVILLE | # Listed 2023 | # Listed 2024 | % Change |
| Condominium | 553 | 320 | - 42% |
| Single Family | 99 | 82 | - 17% |
| Multi-Family | 224 | 112 | - 50% |
Medford MA Housing Inventory
In Medford MA 46% to 54% fewer Condominium and Single Family homes listed for sale in conjunction with 31% fewer Multi-Family homes being listed.
| MEDFORD | # Listed 2023 | # Listed 2024 | % Change |
| Condominium | 304 | 140 | - 54% |
| Single Family | 241 | 129 | - 46% |
| Multi-Family | 77 | 53 | - 31% |
Data Source: MLS Pinergy® as of 6-26-2024
©2024 Intellectual property of Tamela Roche, all rights reserved
Learn more about my Home Listing Agent or Home Buyer Agent services. Contact me to schedule a Home Seller or Home Buyer Consultation for an overview of the home selling or home buying process, my services as Listing Agent or Buyer Agent, and a review of local market statistics and current trends.
About Tamela Roche, Realtor® – RE/MAX Destiny
