Median single-family home price increases 8.1 percent to $665,000.
PEABODY, July 23, 2024 – Massachusetts single-family home and condo sales declined last month on a year-over-year basis as median sale prices reached new all-time 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 | June 2023 | June 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 4,876 | 4,441 | -8.9% |
| YTD Single-Family Sales | 18,597 | 18,451 | -0.8% |
| Median Single-Family Home Price | $615,000 | $665,000 | 8.1% |
| YTD Median Single-Family Home Price | $555,400 | $609,900 | 9.8% |
Last month, there were 4,441 single-family home sales in Massachusetts, an 8.9 percent decrease from June 2023. Meanwhile, the median single-family sale price increased 8.1 percent on a year-over-year basis to $665,000, up from $615,000 in June 2023 – a new all-time high.
“It wasn’t that long ago that the prospect of the median single-family home price exceeding $600,000 seemed like a long shot, but here we are with a median price approaching $700,000,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “A lack of inventory is clearly driving this record-setting appreciation. Despite these record prices, higher mortgage interest rates have actually slowed price growth – the median may have been even higher without those changes – but it has also contributed to low inventory.”
Year-to-date, there have been 18,451 single-family home sales in Massachusetts, a 0.8 percent decrease from the first six months of 2023. Meanwhile, the year-to-date median single-family home price increased 9.8 percent on the same basis to $609,900.
Condominiums
| MA Condominiums | June 2023 | June 2024 | % Change 2023-2024 |
| Condominium Sales | 2,324 | 1,938 | -16.6% |
| YTD Condominium Sales | 9,375 | 8,954 | -4.5% |
| Median Condominium Price | $542,000 | $570,000 | 5.2% |
| YTD Median Condominium Price | $510,000 | $540,000 | 5.9% |
There were 1,938 condominium sales in June 2024, compared to 2,324 in June 2023 – a 16.6 percent decrease. Meanwhile, the median sale price rose 5.2 percent on a year-over-year basis to $570,000 – a new all-time high for condos.
“Massachusetts condo sales followed similar activity to single-family homes,” Norton added. “Sales were down on a year-over-year basis while the median sale price reached a new all-time high. The median Massachusetts condo price may well exceed $600,000 in the coming months.”
Year-to-date, there have been 8,954 condo sales, a 4.5 percent decrease from the first six months of 2023 with a median sale price of $540,000, a 5.9 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 |
June 2023 | June 2024 | % Change 2023-2024 |
| Single-Family Home Sales | 2,496 | 2,341 | -6.2% |
| YTD Single-Family Sales | 9,001 | 9,001 | 0.0% |
| Median Single-Family Home Price | $770,000 | $835,000 | 8.4% |
| YTD Median Single-Family Home Price | $700,000 | $765,000 | 9.3% |
There were 2,341 single-family home sales in the Greater Boston housing market in June 2024, which marked a 6.2 percent decrease from June 2023 when there were 2,496 transactions. Meanwhile, the median single-family sale price increased 8.4 percent on a year-over-year basis to $835,000.
| Greater Boston Condominiums | June 2023 | June 2024 | % Change 2023-2024 |
| Condominium Sales | 1,705 | 1,439 | -15.6% |
| YTD Condominium Sales | 6,833 | 6,572 | -3.8% |
| Median Condominium Price | $630,000 | $660,000 | 4.8% |
| YTD Median Condominium Price | $599,900 | $626,750 | 4.5% |
In June, there were 1,439 condo sales, up from 1,705 sales in June 2023, marking a 15.6 percent decrease on a year-over-year basis. Meanwhile, the median condo price rose 4.8 percent on the same basis to $660,000, up from $630,000 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.
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