MA Homes Are Still Expensive. Here's 1 That's A Deal

MASSACHUSETTS — In this weekly homes column, we've highlighted homes in the oldest communities of Massachusetts, showcased homes for hosting holiday parties and more.

But this month's theme is more topical, and not nearly as cheery.

For what seems like the millionth month in a row, a report from the Warren Group included a similar sentiment: single-family home sales are way down, and the prices for those homes are way up.

In November, there were 3,447 single-family home sales in Massachusetts, a 10 percent decrease from November 2022. It was the fewest number of home sales in November since 2011.

On the other end of the spectrum, home sale prices increased 8.4 on a year-over-year basis, reaching $579,900. That's an all-time high for November, according to the report.

These numbers aren't an anomaly.

As of the November report, there have been 37,629 single-family home sales in Massachusetts, a nearly 23 percent decrease from the first 11 months of 2022. The median single-family home cost is up four percent over the same period.

Condo sales are also down 19 percent, while the median price is up five percent.

Is there relief on the way in 2024? Not really, according to Warren Group Associate Publisher and Media Relations Director Cassidy Norton.

"I don’t expect the pressure building behind this pent-up demand to be relieved this year; I think we can expect to see more of the same in the coming months due to elevated interest rates," Norton said.

"However, the Federal Reserve has indicated it intends to reduce interest rates in 2024, which may help relieve some of that pressure."

Related: More People Moving Out Of MA Than Almost Any Other State: Study

A number of communities saw a decline of home sales at a mark over 60 percent in November, including in Barnstable, where 70 percent fewer homes were sold.

The median sale price in Barnstable through November 2022 was $775,000. Through November 2023 the median price is $824,500, an increase of over six percent.

Here's a look at one home on the market:

26 Salt Rock Rd., Barnstable, Mass.

Who knew that $600,000 could be a bargain?

This Salt Rock Road home is listed at $599,000, over $200,00o cheaper than the median home sale price in Barnstable in 2023.

The home also features a heartwarming backstory.

Listed on the market for the first time, the home was built for the builder's own mother, according to a listing.

Situated less than a mile from the village center (think Nirvana coffee, the Dolphin restaurant and Sturgis Library) the house is in one of the most desirable neighborhoods in Barnstable village.