Median single-family home price up nearly seven percent on year-over-year basis to $615,000.
PEABODY, November 19, 2024 – Massachusetts single-family home and condo sales both increased in October 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 | October 2023 | October 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 3,518 | 3,926 | 11.6% |
| YTD Single-Family Sales | 34,226 | 34,784 | 1.6% |
| Median Single-Family Home Price | $575,570 | $615,000 | 6.9% |
| YTD Median Single-Family Home Price | $570,000 | $616,925 | 8.2% |
Last month, there were 3,926 single-family home sales in Massachusetts, an 11.6 percent increase from October 2023. Meanwhile, the median single-family sale price increased 1.6 percent on a year-over-year basis to $615,000, up from $575,570 in October 2023 – a new high for the month of October.
“October’s single-family home sales in Massachusetts showed a modest year-over-year increase in volume, signaling a slight rebound in activity despite the challenging market conditions,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “However, sales remain significantly below historical norms due to persistently limited inventory and elevated mortgage rates. At the same time, the median sale price surged 6.9 percent year-over-year to $615,000, setting a new all-time high for the month of October. The average mortgage interest rate dropped to the lowest level so far this year in September; homes put under agreement then closed in October. This likely contributed to the rise in the number of sales, as buyers took advantage of the brief relief in interest rates. This combination of constrained supply and strong demand continues to push prices higher, even as buyers navigate affordability challenges.”
Year-to-date, there have been 34,784 single-family home sales in Massachusetts, a 1.6 percent increase from the first 10 months of 2023. Meanwhile, the year-to-date median single-family home price increased 8.2 percent on the same basis to $616,925.
Condominiums
| MA Condominiums | October 2023 | October 2024 | % Change 2023-2024 |
| Condominium Sales | 1,562 | 1,649 | 5.6% |
| YTD Condominium Sales | 16,362 | 15,843 | -3.2% |
| Median Condominium Price | $500,000 | $511,000 | 2.2% |
| YTD Median Condominium Price | $515,000 | $539,900 | 4.8% |
There were 1,649 condominium sales in October 2024, compared to 1,562 in October 2023 – a 5.6 percent increase. Meanwhile, the median sale price rose 2.2 percent on a year-over-year basis to $511,000 – a new all-time high for the month of October.
“October 2024 was a strong month for the Massachusetts condominium market, with 1,649 sales marking a 5.6 percent increase from October 2023,” Norton added. “The median sale price also climbed 2.2 percent year-over-year to $511,000, setting a new all-time high for the month. These figures reflect sustained demand and resilience in the market, even amidst broader economic uncertainties.”
Year-to-date, there have been 15,843 condo sales, a 3.2 percent decrease from the first 10 months of 2023 with a median sale price of $539,900, 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 |
October 2023 | October 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 1,626 | 1,840 | 13.2% |
| YTD Single-Family Sales | 16,499 | 17,014 | 3.1% |
| Median Single-Family Home Price | $715,000 | $736,750 | 3.0% |
| YTD Median Single-Family Home Price | $720,000 | $765,000 | 6.3% |
There were 1,665 single-family home sales in the Greater Boston housing market in September 2024, which marked a 2.0 percent increase from September 2023 when there were 1,633 transactions. Meanwhile, the median single-family sale price increased 3.5 percent on a year-over-year basis to $730,000.
| Greater Boston Condominiums | October 2023 | October 2024 | % Change 2023-2024 |
| Condominium Sales | 1,103 | 1,153 | 4.5% |
| YTD Condominium Sales | 11,860 | 11,533 | -2.8% |
| Median Condominium Price | $575,000 | $605,000 | 5.2% |
| YTD Median Condominium Price | $600,000 | $625,000 | 4.2% |
In September, there were 1,031 condo sales in the Greater Boston housing market, down from 1,174 sales in September 2023, marking a 12.2 percent decrease on a year-over-year basis. Meanwhile, the median condo price increased 3.5 percent on the same basis to $600,000.
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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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