MID-YEAR 2024
Northborough, MA
Real Estate Market Recap

  • Northborough, MA home sales decreased by 15.1% as there were 62 sales in the first half of 2024 compared to 73 in the first half of 2023. Average price increased by 23.6% going from $592,260 in the first half of 2023 to $732,126 in the first half of 2024. These metrics include single families, condos, and multi-families. The categorical breakdowns are listed in the infographic to the right.
  • The number of homes listed in the first half of 2024 compared to the first half of 2023 increased by 30.3%, moving from 76 to 99.
  • The number of pending sales remained the same year over year with 76 in the first half of 2024 as well as in the first half of 2023.
Learn More About the Northborough, MA Community
2024 midyear Northborough, MA snapshot

2024 Northborough, MA Housing Market Outlook

The early part of the year typically favors sellers due to low housing inventory and high buyer demand. This combination often leads to bidding wars and upward pressure on home prices. However, as the year unfolds, more buyers find homes or renew leases, while a growing number of homeowners enter the market, particularly those experiencing life changes. This shift typically creates a more buyer-friendly environment in the latter part of the year with increased housing options and less competition. Sellers may need to adapt their pricing strategies to attract motivated buyers in this changing market. With mortgage rates holding steady in the high 6% to low 7% range and home values continuing to climb, buyers should stay informed and ready to seize opportunities, especially if interest rates unexpectedly decrease.

To learn more about Massachusetts’s performance, click here to read the 2024 Massachusetts Mid-Year Report.

Data provided by Warren Group & MLSPin and compared to the prior year.

Additional Resources