Massachusetts home prices rise 2.3% to $665,000

BY COLIN A. YOUNG

Whether on the hunt for a single-family home or a condominium, the latest checkup on the Massachusetts real estate market showed Tuesday that it’s a decent time to be a buyer.

The Warren Group reported that there were 4,719 single-family homes sold here last month, up 6.2% over July 2024. The median sale price for July increased 2.3% over last year to $665,000 but was down compared to this June, which Warren Group Associate Publisher Cassidy Norton said “is the typical annual pattern.”

“Buyers who are looking now are likely to see lower prices and reductions from earlier in the year,” she said.

A year after Gov. Maura Healey signed a housing law that she and other Democrats expect will help the Bay State chip away at a housing shortage estimated to be of at least 200,000 units by 2030, sales on the single-family residence market are up.

The 23,784 sales notched so far this year represent a 3.6% increase over the same point in 2024, The Warren Group said. The median single-family home sale price has increased 3.4% so far this year to $640,000.

The condo market here “underwent a bit of an adjustment earlier this year,” Norton said, and the 1,874 condo sales in July marked a 3.6% decrease from July 2024. The month’s median sale price was down 0.9% to $560,000. There were 11,253 condo sales in the first seven months of 2025, a 3.3% increase over the same stretch of 2024. The year-to-date median sale price is up 0.9% from 2024 to $549,900.

“For the first time since 2011, the condo market had four months of inventory in May. Though the number of sales was down, an increase in inventory helped hold prices down,” Norton said.