2024 New bedford, MA
year in review
Real Estate Market Recap

In 2024, the New Bedford real estate market fought hard to beat 2023 and exhibited slightly fewer sales and higher prices, reflecting national trends driven by strong demand and limited inventory. With low pre-pandemic mortgage rates, many sellers were hesitant to list, but shifting circumstances and changes in life led to more movement in the market, making competitive pricing becoming essential. Despite affordability challenges from increasing rates and rising home prices, buyers stayed persistent. Those ready to purchase must be proactive and well-prepared to take initiative when they find a suitable home.

The year started as a seller’s market but transitioned toward buyers, with renewed activity and hopes for a rebound in 2025. Even as prices climbed, homeownership remained enticing, thanks to stable payments, growing equity, and tax benefits, reinforcing its long-term advantages over renting. As Anthony shared 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.