Thanksgiving 2024 Real Estate Market Report

Gratitude and Momentum in a Busy Holiday Season

As Thanksgiving approaches, the area’s farm stands and markets are bustling with shoppers preparing for cherished gatherings around the table, sharing a festive feast with family and friends.

In the midst of the holiday excitement, the autumn-to-winter real estate market usually serves as a quieter, yet vital backdrop. This season often inspires buyers and sellers to look ahead to the possibilities of spring and summer, while real estate professionals take time to reflect, recalibrate, and prepare for the year ahead. Yet this year, since Labor Day, the market has remained unexpectedly active, with buyers eager to find and secure their next home. This momentum has brought opportunities—and gratitude—to both buyers and sellers.

Here are highlights of transactions since September:

• 21 Harbor Lane, an 1883 harborfront 3928sf traditional with pool, listed 3/15/24 at $9.1m and sold 9/17/24 for $8.75m;
• 47 Ram Island Road, a 4200sf harborview traditional with pool on 2.9 acres, listed 9/6/24 at $4.749m, and sold 11/6/24 for $4.95m;
• 18 Rocky Point Road, a 3612sf restored 1892 barn with pool on 1.9 acres, listed 8/10/24 for $3.75m, and sold 11/14/24 for $4.75m; 
• 133 South Midway Road, a 1510sf traditional on 1.8 acres with pool listed 8/14/24 for $4.25m and sold 11/12/24 for $4.125m;
• 4 Cove Way, a 3227sf creekfront traditional with pool on one acre, listed 7/25/24 for $3.75m and sold 9/18/24 at the listed price;
• 44 St Mary’s Road, a 3225sf equestrian estate on 8.45 acres, listed 6/19/21 and last listed at $3.9m, sold 10/4/24 for $3.5m;
• 3 Bevan Place, a 1798sf soundfront on one acre, listed 8/11/23 for $2.995m, sold 10/2/24 for $2.475m;
• 10 Serpentine Dr, a 1739sf 2 bedroom water view contemporary with pool and carriage house with bedroom on 1.35 acres, listed 4/1/24 for $3.25m and sold 10/4/24 for $2.7m;
• 8 Crescent Way, a 2800sf traditional built 2017 with pool on 1.08 acres, listed 5/10/24 for $2.69m and sold 10/28/24 for $2.515m;
• 7 Marc Street, an 1190sf A-frame on .5 acres with pool, listed 4/16/24 for $1.8m and sold 9/27/24 for $1.7m;
• 1 Dering Woods Road, 3.1 acres of undeveloped acreage, listed 9/9/22 for $999k, sold 11/22/24 for $895k.

Navigating today’s real estate market requires more than casual engagement. New regulations have encouraged more concise, direct communication between principals and their real estate agents entering the market, while the intensity of bidding competitions calls for a level of focus and expertise that leaves little room for hesitation. For buyers, sellers and agents, the process demands thoughtful planning, collaboration, and dedication.