Median single-family home price reaches $610,000 in April.
PEABODY, May 21, 2024 – Massachusetts single-family home sales increased 6.8 percent in April on a year-over-year basis, marking the largest year-over-year increase since June 2021, according to a new report from The Warren Group, a leading provider of real estate and transaction data.
Single-Family Homes
| MA Single-Family Homes | April 2023 | April 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 2,902 | 3,100 | 6.8% |
| YTD Single-Family Sales | 10,105 | 10,113 | 0.1% |
| Median Single-Family Home Price | $555,000 | $610,000 | 9.9% |
| YTD Median Single-Family Home Price | $525,000 | $575,000 | 9.5% |
Last month, there were 3,100 single-family home sales in Massachusetts, a 6.8 percent increase from April 2023. Meanwhile, the median single-family sale price increased 9.9 percent on a year-over-year basis to $610,000, up from $555,000 in April 2023 – a new all-time high for the month of April and the first time the median single-family home prices has exceeded the $600,000 mark in 2024.
“The number of single-family homes sold in Massachusetts increasing by such a large percent over the year prior is a positive sign for both buyers and sellers,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “The market has been exceedingly tight in recent years as mortgage rates and building costs rose. More sales didn’t move the needle on home prices, however; the median single-family home sale price in April rose nearly 10 percent. This also marked the first time the median price has exceeded $600,000 in 2024, approaching the record high of $615,000 set in June 2023.”
Year-to-date, there have been 10,113 single-family home sales in Massachusetts, a 0.1 percent increase from the first four months of 2023. Meanwhile, the year-to-date median single family home price increased 9.5 percent on the same basis to $575,000
Condominiums
| MA Condominiums. | April 2023 | April 2024 | % Change 2023-2024 |
| Condominium Sales | 1,495 | 1,613 | 7.9% |
| YTD Condominium Sales | 5,208 | 5,094 | -2.2% |
| Median Condominium Price | $515,000 | $532,500 | 3.4% |
| YTD Median Condominium Price | $490,000 | $525,000 | 7.1% |
There were 1,613 condominium sales in April 2024, compared to 1,495 in April 2023 – a 7.9 percent increase. Meanwhile, the median sale price rose 3.4 percent on a year-over-year basis to $532,500 – a new all-time high for the month of April.
“Though the median sale price of a Massachusetts condo rose a mere 3.4 percent, that was enough to read an all-time high for the month of April of $532,500,” Norton added. “The condo market faces the same headwinds as the single-family market, and a rise in the number of sales is a welcome change.”
Year-to-date, there have been 5,094 condo sales, a 2.2 percent decrease from the first four months of 2023 with a median sale price of $525,000, a 7.1 percent increase on the same basis.
TOWN & COUNTY STATISTICS: Click for breakdown of town sales and county sales statistics.
Greater Boston Single-Family Home and Condo Markets
Included in this release is an overview of activity in the Greater Boston housing market. This analysis encompasses the 139 towns located within 495. Click here for a full list of the communities included in the analysis.
| Greater Boston Single-Family Homes |
April 2023 | April 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 1,394 | 1,517 | 8.8% |
| YTD Single-Family Sales | 4,707 | 4,730 | 0.5% |
| Median Single-Family Home Price | $690,000 | $760,000 | 10.1% |
| YTD Median Single-Family Home Price | $651,000 | $724,200 | 11.2% |
There were 1,517 single-family home sales in the Greater Boston housing market in April 2024, which marked an 8.8 percent increase from April 2023 when there were 1,394 transactions. Meanwhile, the median single-family sale price increased 10.1 percent on a year-over-year basis to $760,000.
| Greater Boston Condominiums | April 2023 | April 2024 | % Change 2023-2024 |
| Condominium Sales | 1,110 | 1,187 | 6.9% |
| YTD Condominium Sales | 3,766 | 3,710 | -1.5% |
| Median Condominium Price | $609,950 | $602,500 | -1.2% |
| YTD Median Condominium Price | $575,000 | $610,000 | 6.1% |
In April, there were 1,187 condo sales, up from 1,110 sales in March 2023, marking a 6.9 percent increase on a year-over-year basis. Meanwhile, the median condo price dipped 1.2 percent on the same basis to $602,500, down from $609,950 a year earlier.
ABOUT THE WARREN GROUP
Customers use The Warren Group to identify new business opportunities through access to comprehensive real estate and mortgage data, analytics, and industry news coverage. Established in 1872, The Warren Group is now in its fourth generation of family ownership and management. It is the publisher of Banker & Tradesman, The Commercial Record and The Registry Review. For more information visit www.thewarrengroup.com.
Recent Comments