MA Home Prices Continue Climbing In November, Warren Group Finds

MASSACHUSETTS — There were a lot of things to be thankful for in the month of November, but the probability of finding someone looking to buy a home in Massachusetts who's thankful for the current state of the market is fairly low.

The Warren Group published its November sales report on Dec. 17, finding that, for the first time, the average single-family home price in November was $600,000. That mirrors the year-to-date trend, which has seen the average price climb to $615,000, up over 7 percent from this time last year.

Last month, there were 3,545 single-family home sales in Massachusetts, a 2.7 percent increase from November 2023. Meanwhile, the median single-family sale price increased 3.4 percent on a year-over-year basis to $600,000, up from $580,000 in November 2023.

Warren Group officials said that continued the trend they've been seeing since the start of the year.

"The Massachusetts single-family housing market continues to demonstrate strong demand, with the median sale price hitting $600,000 in November — a record for the month and the eighth consecutive month at or above this threshold,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group.

“This marks a 3.4 percent year-over-year increase, a smaller increase than we’ve seen in the past, but still an increase. The recent data suggests that mortgage rates are likely to remain relatively high, perpetuating the issue of potential sellers with lower interest rates reluctant to enter the market, contributing to the state’s supply issue.”

Still, there have been slightly more homes sold in 2024 than 2023 in the first 11 months of the year, with The Warren Group seeing a 1.7 percent increase in homes sold.

That has, unfortunately for buyers, come with a year-to-date increase of more than 7 percent in the cost, which was $573,000 at this time last year.