Home sellers in the Northeast remain firmly in control as the region continues to outpace much of the country in terms of housing market competitiveness and price growth. Despite already expensive real estate, buyers are still active, drawn by both the proximity to major economic hubs and the relative value found just outside the priciest metropolitan centers.

Cities such as Manchester-Nashua, Worcester, Providence, and up-and-coming markets like New Haven have seen notable price increases over the past year, with median list prices often far exceeding the national average. For example, some New England markets now feature median prices hovering just below $600,000—more than $100,000 above the national norm. This robust demand persists even as higher mortgage rates and tight inventory create headwinds for buyers.

The most significant challenge fueling seller dominance is a persistent lack of supply. The Northeast is experiencing one of the slowest recoveries in housing inventory nationwide, held back by sluggish new construction that cannot keep pace with demand. This scarcity translates into rapid sales, increased competition, and frequent bidding wars. In many of the region’s hottest ZIP codes, homes attract several times more buyer interest than the national average and sell weeks faster than typical U.S. properties.

Interestingly, buyers are willing to expand their search radius, pushing into suburban and exurban areas that remain within commuting distance to cities like Boston and New York. These trends are further amplified by evolving work patterns, with hybrid and remote arrangements making slightly longer commutes more palatable.

For now, sellers continue to benefit from this unique market environment. As long as inventory stays tight and demand remains robust—driven by both local buyers and those relocating from costlier urban cores—expect the Northeast’s expensive markets to maintain their upper hand.