Median single-family home price up 5 percent on year-over-year basis to $630,000.
PEABODY, September 17, 2024 – Massachusetts single-family home and condo sales both increased in August on a year-over-year basis as median prices continued to reach new highs, 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 | August 2023 | August 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 4,404 | 4,499 | 2.2% |
| YTD Single-Family Sales | 27,091 | 27,376 | 1.1% |
| Median Single-Family Home Price | $600,000 | $630,000 | 5.0% |
| YTD Median Single-Family Home Price | $570,000 | $620,000 | 8.8% |
Last month, there were 4,499 single-family home sales in Massachusetts, a 2.2 percent increase from August 2023. Meanwhile, the median single-family sale price increased 5 percent on a year-over-year basis to $630,000, up from $600,000 in August 2023 – a new high for the month of August.
“Massachusetts single-family home sales in August were marked by continued price growth, with the median price hitting $630,000 — a 5 percent increase compared to last year and a new record for August,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. It’s also the fifth month in a row that the median price has stayed above $600,000, showing just how resilient the market has been.”
Year-to-date, there have been 27,376 single-family home sales in Massachusetts, a 1.1 percent increase from the first eight months of 2023. Meanwhile, the year-to-date median single-family home price increased 8.8 percent on the same basis to $620,000.
Condominiums
| MA Condominiums | August 2023 | August 2024 | % Change 2023-2024 |
| Condominium Sales | 1,871 | 1,804 | -3.6% |
| YTD Condominium Sales | 13,132 | 12,704 | -3.3% |
| Median Condominium Price | $525,000 | $542,635 | 3.4% |
| YTD Median Condominium Price | $520,000 | $545,000 | 4.8% |
There were 1,804 condominium sales in August 2024, compared to 1,871 in August 2023 – a 3.6 percent increase. Meanwhile, the median sale price rose 3.4 percent on a year-over-year basis to $542,635 – a new all-time high for the month of August.
“August was another strong month for the Massachusetts condo sector,” Norton added. “Despite the challenges we’ve seen with inventory, the demand for homes continues to push prices upward. In fact, the median price for condos also reached an all-time high for August, climbing to $542,635. This is a clear indicator of how resilient the market is, especially in the condo space, where buyers are still eager to find opportunities even in a competitive environment.”
Year-to-date, there have been 12,704 condo sales, a 3.3 percent decrease from the first eight months of 2023 with a median sale price of $545,000, a 4.8 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 |
August 2023 | August 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 2,172 | 2,199 | 1.2% |
| YTD Single-Family Sales | 13,240 | 13,509 | 2.0% |
| Median Single-Family Home Price | $760,000 | $795,000 | 4.6% |
| YTD Median Single-Family Home Price | $720,000 | $775,000 | 7.6% |
There were 2,199 single-family home sales in the Greater Boston housing market in August 2024, which marked a 1.2 percent increase from August 2023 when there were 2,172 transactions. Meanwhile, the median single-family sale price increased 4.6 percent on a year-over-year basis to $795,000.
| Greater Boston Condominiums | August 2023 | August 2024 | % Change 2023-2024 |
| Condominium Sales | 1,346 | 1,331 | -1.1% |
| YTD Condominium Sales | 9,583 | 9,349 | -2.4% |
| Median Condominium Price | $609,500 | $620,000 | 1.7% |
| YTD Median Condominium Price | $605,000 | $630,000 | 4.1% |
In August, there were 1,331 condo sales in the Greater Boston housing market, up from 1,346 sales in August 2023, marking a 1.1 percent decrease on a year-over-year basis. Meanwhile, the median condo price increased 1.7 percent on the same basis to $620,000.
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.
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