2024 BEVERLY, MA year in review
Real Estate Market Recap

In 2024, the Beverly real estate market fought hard to beat 2023 and exhibited slightly less sales and higher prices, reflecting national trends driven by strong demand and limited inventory. Many sellers were reluctant to list due to low pre-pandemic mortgage rates, but increased activity emerged from necessity and life changes, with competitive pricing becoming essential. Buyers remained determined despite affordability challenges from rising rates and home prices. Active buyers must stay proactive and well-prepared to act quickly when they find a property that meets their needs.

The market began as a seller’s market but shifted toward buyers with a burst of activity later in the year, and a rebound is expected in 2025. Despite rising costs, homeownership remained appealing due to fixed payments, equity growth, and potential tax benefits, reinforcing its long-term value over renting. As Anthony stated in his 2025 Predictions, “I believe 2025 will mark the beginning of this recovery, with 2026 poised to be a historic year for the industry as sales normalize.”.

To learn more about Massachusetts’s performance, click here to read the 2024 Massachusetts Year in Review.