We’ve officially closed the books on the first half of the year and, thus far, June was the best transaction month with 20 property transfers totaling $126 million. It was also the first month of the year to officially surpass the $100 million mark, something that was far more common in recent years. June transactions included another mega high-end sale with the $24 million sale of 42 Shimmo Pond Road. While not the highest property sale on record for 2024, it marks the second transaction above $20 million, which is on par with the average for this price point over the last five years. All told, the first half of the year tallied 102 real estate transactions totaling $443 million, a respective decline of 12 percent but a rise of 2 percent from the same figures one year ago. The month of July typically marks the annual peak of property inventory for our local market so we will see if the 221 properties on the market grows from here or starts to dwindle as transaction activity picks up.

Here is Fisher’s June Market Report…

The unprecedented transaction peak of 2020-2022 is now firmly in the rearview mirror with only significantly higher property valuations in its wake.  In 2023, the market dipped below 300 annual transactions, a lower limit that hasn’t been breached since 2009 when there were 230 transactions. Yet the total dollar volume for this relatively limited number of sales was $1.15 billion, nearly triple the dollar volume from 2009 and solidly above what was once considered a lofty ceiling.