We Haven't Seen These Numbers Since 2020...

by Peter Pezzano

As of last week, Massachusetts finally broke through 10,000 homes actively for sale—the highest level we've seen since 2020. While that's a meaningful jump, it's still well below pre-COVID numbers. For context, in 2019, inventory hovered around 15,000 homes. That pre-pandemic level is what we’d consider a normal market—where supply and demand are relatively balanced.

Here’s what’s interesting locally:

In Melrose alone, 15 single-family homes hit the market last week. A total of 27 properties came on in all. That’s a significant surge for a town of our size.So, what does it all mean? Are we entering a new phase of the market—or is this just the usual Spring bump?

Here’s what we’re hearing from sellers:

“We’ve been waiting for rates to come down for three years—we’re done waiting.”

“With so much economic uncertainty, we want to cash out now while buyers are still active.”

Even with mortgage rates still sitting at 7% nationally, the silver lining is this: if inventory keeps climbing, buyers may finally get more leverage. More choices mean less competition per home. On the flip side, sellers—more inventory means more competition. If there are 3–5 homes priced like yours, you have to stand out.

Want to make sure you’re positioned right for where the market is headed?