The Average MA Home Now Costs $617K As Sales Fell In September

MASSACHUSETTS — The drumbeat of the Massachusetts housing market thumps on.

Sales down — bum, bum — prices up — bum, bum.

The Warren Group, which publishes monthly studies about the Bay State's housing market, found that 3,482 single-family homes were sold in Massachusetts last month.

That sale number was down nearly 4 percent from September 2023, but the price of those homes went up 6 percent from $565,000 in 2023 to $600,000 in 2024.

That follows the year-long trend, which has seen the average home sold for $617,500, up 8 percent from last year's mark of $570,000.

"The Massachusetts single-family housing market in September saw a slight cooling in sales, with 3,482 homes sold – a 3.7 percent decline from the same time last year,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group.

“Elevated interest rates and limited inventory are likely key factors slowing the pace of transactions, despite continued demand. At the same time, prices remain robust, with the median home price reaching $600,000, a 6.2 percent increase year-over-year and a record for September. However, the rapid rise in prices appears to be flattening compared to previous years, signaling a potential shift in market dynamics.”

The condo market has been similar to the home market, with prices rising and sales down both last month and year-over-year. Massachusetts condos now cost, on average, $540,000, an increase from $517,500 in 2023.