Massachusetts’ real estate market exhibits steady growth in home prices, increased inventory levels, and varied regional dynamics. Here’s a comprehensive overview:
🏠 Statewide Market Overview
-
Median Home Price: In April 2025, the median sale price for all home types in Massachusetts reached $658,600, reflecting a 3.8% year-over-year increase.
-
Sales Volume: A total of 4,551 homes were sold in April 2025, marking a 4.1% decrease compared to April 2024.
-
Days on Market: Homes spent a median of 21 days on the market in April 2025, slightly longer than the previous year.
🏘️ Property Type Breakdown
Single-Family Homes
-
April 2025 Sales: 3,107 units sold, a marginal 0.2% decrease from April 2024.
-
Median Sale Price: Increased by 3.3% year-over-year to $630,000.
-
Year-to-Date (YTD) Sales: 10,348 homes sold, up 2.1% from the same period in 2024
-
YTD Median Price: Rose by 4.3% to $600,000.
Condominiums
-
April 2025 Sales: 1,723 units sold, a 6.8% increase from April 2024.
-
Median Sale Price: Increased by 1.4% year-over-year to $539,990, setting a record high for April.
-
YTD Sales: 5,377 units sold, up 5.6% from the same period in 2024.
-
YTD Median Price: Rose by 1.6% to $533,475.
🌆 Regional Highlights
Greater Boston
-
Single-Family Homes:
-
April 2025 Sales: 1,505 units, a 1.1% decrease from April 2024.
-
Median Sale Price: Increased by 5.3% year-over-year to $800,000.
-
-
Condominiums:
-
April 2025 Sales: 1,244 units, a 4.8% increase from April 2024.
-
Median Sale Price: Rose by 4.4% year-over-year to $629,000.
-
Central and Western Massachusetts
-
Market Trends: Areas like Worcester County and parts of Western Massachusetts are showing early signs of a slowdown, with higher mortgage rates and affordability issues impacting buyer activity.
📈 Market Dynamics
-
Inventory Levels: The number of homes for sale in Massachusetts increased by 18.9% year-over-year in April 2025, indicating a shift towards a more balanced market. Redfin
-
Buyer Behavior: Despite increased inventory, buyer caution persists due to affordability concerns and economic uncertainties. guthrieschofieldgroup.com
🔮 Market Outlook
The Massachusetts housing market is expected to continue its trajectory of moderate price growth and increased inventory through the remainder of 2025. While Greater Boston remains robust, other regions may experience a cooling effect due to economic factors and affordability challenges. Buyers may find more opportunities as inventory grows, but should remain mindful of market fluctuations.