Although Gen X is the smallest generation population-wise, they are beginning to make a large impact in the housing market.  Recent data from the National Association of Realtors showed that the average homebuyer in 2024 was 38 years old, which is an all-time high.  this data suggests that luxury homebuyers are increasingly likely to be older, and more established professionals in high-growth industries.  

Emerging as "the new face of wealth" is affluent women, with rising numbers of married women leading financial decision-making, including real estate investments.  These two groups are the two biggest power players in the real estate market, "the quiet elite."  Women are starting businesses at a faster rate than the market average, and Millennial…

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Inventory levels for both single-family and attached homes increased in 2024, with single-family homes growing by 14.4% and condos and townhouses by 16.3%.  The pace of increase has been gradual, but steady.  Several factors have contributed, the largest one being the "locked-in effect" of potential sellers being reluctant to move because they are still benefitting from the historically low mortgage rates they were able to secure.   If interest rates continue to decline, inventory levels are likely to rise even more as the "locked-in effect" will begin to fade.   The trends are already indicating buyers and sellers are gaining confidence in the market.

Builders are also increasingly optimistic, and industry experts expect that pent-up demand is…

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Over half of buyers surveyed are optimistic about the housing market, with 54.5% saying it is "Good."  In 2024, 45% of affluent buyers paid cash for their homes, which is the largest share in over a decade.  This somewhat insulates the luxury market from fluctuations and keeps prices elevated.  Coldwell Banker anticipates that the 2025 market will be defined by home affordability.  Certainly for aspirational luxury buyers who want to enter the market in 2025, but even for buyers who don't have cost as a barrier to entry, there is a strong interest in the value of homes in the lifestyle and long-term returns they provide.  Many industry experts, including Coldwell Banker, predict the large demand will alleviate upward pressure on prices.  If mortgage…

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In spite of a tumultuous economy, demand for luxury properties locally and nationwide remains strong.  The 2025 Coldwell Banker Trends Report notes a "quiet resilience" in the luxury market, with properties sustaining their value.  The Report has found that Gen X is beginning to have a larger influence on the luxury market, particularly Gen X women.  Locations that combine affordability with luxury amenities continue to be the most desirable places to live across the board.

Slightly increased inventory in 2024 helped to shift the market as more equal for buyers and sellers both.  New inventory is a very welcome sight for the luxury market, but much more is still needed.  With a more balanced market, Coldwell Banker is optimistic about where the…

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The Global Luxury 2024 Mid-Year Report has found, after speaking with hundreds of luxury agents and consumers across the country, that optimism in the market as we move into Q4 and beyond is high.  Across the nation, the optimism is highest in the Northeast with 91.42% of people surveyed expressed this sentiment.  68.6% of agents are predicting prices will remain stable, and 60% are predicting slight increases in inventory - which is on track with how the market has been trending in the first half of 2024.  

Another reason to be optimistic about the market is the rate at which home buyers are paying cash: 32%, which is the highest rate since 2014, according to the National Association of Realtors (NAR).  There has also been a noticeable shift in…

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According to the Global Luxury 2024 Mid-Year Report, Boston was in the top 25 of cities across the nation with the growth percentage in the top 10% of homes sold increasing by 44% from 2020 to 2024.  Among the top 5% of homes, only Miami and Los Angeles had higher growth rates than Boston, which increased by 43.3% during that time.  There is a lot of consumer confidence and optimism among the top agents in the Northeast about the luxury market, particularly in the resilience of high net worth individuals to external economic pressures.  As consumers have adjusted to the new landscape of higher rates and prices, the luxury market in Boston has continued to flourish.

For a copy of the report, give me a call or text at (617) 875-8331 or email me at:…

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Coldwell Banker's Global Luxury Division has released the 2024 Mid-Year Report: Market in Review.  According to the data and research compiled over the last 18 months, the luxury market remains strong with prices and inventory up slightly, but definitively from 2023 to 2024.

With single family homes, the price has been up consistently every month in 2024 compared to the same month in 2023, with inventory increasing as well.  The average days on market is slightly higher at 29 days in 2024 compared to 26 days in 2023.  The trends indicate the single family homes market shifting from a balanced market to more of a seller's market.

The luxury condo market is indicating similar trends, with the price, $/sq ft and inventory levels up from 2023…

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According to Altos Research, the Boston metropolitan area is the most robust in the nation as of February 23, 2024.  It had an Altos Market Action Index Score of 60.59, a full point over the second-highest market in San Francisco.  Altos considers anything over a score of 30 to be a seller's market.  A factor in the state of the Boston housing market is certainly the low inventory: as of February 16, there were 1,753 active single family listings on the market as opposed to 4,537 just 4 years ago in 2020.  You can read more here.

As rates have stabilized and even decreased, more buyers are entering the market.  As this trend continues, the competition will only increase so if you are waiting, you'll be too late.  Thinking of buying, selling or…

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According to Boston Magazine in their annual "Best Places to Live" issue, the prices of housing in Boston have outpaced cumulative inflation rates from 2013-2023.  In East Boston, the difference is staggering: it rose by over 96%.  Owning a home in Boston is one of the best - and safest - ways to build wealth.  This is also a market that held its value during multiple dips in the housing market nationwide.  We all know the biotech and healthcare industries have invested heavily in Boston, with the numerous top-ranked universities in the area providing a large pool of high-end talent to recruit from, and that trend is only going to continue.

I encounter people all the time who wish they had bought before 2013, noticing how prices have gone up…

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As the 2024 market really gets going, we have seen a massive increase of buyer activity all over Massachusetts at all price points.  Bear in mind that in the last 81 years, home prices have only increased 75 times.  That means the market has only depreciated 6 times in 81 years and 4 of those years were during the housing crisis that began in 2008.  All signs indicate a very strong 2024.  Inventory is low, future new construction in the city is low - which is hard to believe after the last 10 years, but the Ritz-Carlton Residences at South Station is the only full-service luxury building currently under construction in the city - transactions were down by 25% in 2023 and the average sales price increased by 17% in 2023.  

If you are a buyer sitting…

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