19 Places Where Inventory Has Risen in Massachusetts
Overall, inventory remains tight across Massachusetts
Real estate inventory has risen in Massachusetts, particularly Greater Boston, over the past year, but the supply of homes remains tight.
In the 64 cities and towns that make up the Greater Boston Association of Realtors jurisdiction, single-family inventory jumped nearly 30 percent from July 2023 to July 2024. Condominium inventory increased 19 percent in July year over year.
Despite the increase in inventory, it is still a strong seller's market. The number of months of supply, indicating how many months it would take to sell through the available inventory at the current monthly sales rate, increased 13 percent for single-family homes to 1.2 months in July. Condominium months of supply rose 20 percent to 2.1 months. About five or six months of inventory is considered a balanced market between home buyers and sellers.
According to the Massachusetts Association of Realtors, single-family inventory rose 2 percent in July compared to July 2023. The number of months of supply remained at 1.8 months.
The number of condominiums for sale rose almost 1 percent. The number of months of condo supply remained at 2.1 months.
The following 19 cities and towns in the Boston area saw inventory jump 29 percent or more from August 31, 2023, to August 31, 2024, according to MLS Property Information Network, Inc. The 19 communities below are a partial list seeing a supply increase.
1. Wellesley, Massachusetts: In Norfolk County, about 17 miles west of Boston, Wellesley's single-family inventory rose to 40 for sale, 29 percent more than the 31 houses in August 2023.
2. Marlborough, Massachusetts: About 32 miles west of Boston in Middlesex County, Marlborough had 27 houses for sale, a 35 percent increase from 20.
3. Barnstable, Massachusetts: About 70 miles south of Boston in Barnstable County, Barnstable saw the number of single-family homes rise 39 percent from 77 to 107.
4. Milton, Massachusetts: In Norfolk County, bordering Boston to the south, Milton had 14 single-family homes for sale in August, a 40 percent increase from 10 on the market.
5. Plymouth, Massachusetts: About 40 miles south of Boston in Plymouth County, Plymouth also saw its inventory rise 40 percent, from 58 to 81 houses for sale.
6. Andover, Massachusetts: About 25 miles north of Boston in Essex County, Andover's single-family inventory rose 41 percent, from 22 to 31 houses for sale in August.
7. Newton, Massachusetts: Bordering Boston to the west in Middlesex County, Newton had 92 single-family homes for sale at the end of August compared to 62 on August 31, 2023, a 48 percent jump.
8. Amesbury, Massachusetts: In Essex County, about 40 miles northeast of Boston, Amesbury's supply of single-family homes rose 56 percent to 14 in August.
9. Cambridge, Massachusetts: There were 22 houses for sale in Cambridge, which is in Middlesex County and borders Boston to the northwest, in August, a 57 percent jump.
10. Haverhill, Massachusetts: About 37 miles north of Boston in Essex County, Haverhill saw single-family supply rise 58 percent to 30 in August, up from 19 on August 31, 2023.
11. Newburyport, Massachusetts: In Essex County and about 40 miles northeast of Boston, Newburyport had 23 single-family homes for sale in August, a 64 percent increase from 14.
12. Brookline, Massachusetts: Bordering Boston to the west in Norfolk County, Brookline's single-family inventory jumped 74 percent to 33 houses for sale from 19.
13. Norfolk, Massachusetts: Up 75 percent to 21 houses for sale in August, Norfolk, located in Middlesex County, is 35 miles southwest of Boston.
14. North Attleborough, Massachusetts: In Bristol County, about 50 miles southwest of Boston, North Attleborough, also known as North Attleboro, saw its supply of houses grow 75 percent in August to 14.
15. Peabody, Massachusetts: About 20 miles north of Boston in Essex County, Peabody's single-family inventory soared 78 percent to 16 houses in August.
16. New Bedford, Massachusetts: There were 47 homes for sale on August 31, 2024, an 81 percent increase from August 31, 2023. New Bedford is located about 60 miles south of Boston in Bristol County.
17. Hingham, Massachusetts: In Norfolk County, about 21 miles south of Boston, Hingham experienced a 91 percent increase in supply to 40 in August from 21 on the market.
18. Methuen, Massachusetts: About 29 miles north of Boston in Essex County, Methuen had 24 homes for sale in August, a 100 percent increase from 12.
19. Littleton, Massachusetts: In Middlesex County and about 39 miles northwest of Boston, Littleton inventory reached 11 on August 31, 2024, 120 percent more than the five houses for sale a year earlier.