Despite single-family home sales falling 1 percent year-over-year in April, the median price of a house in Greater Boston rose 5 percent and has increased 6 percent year-to-date (January through April).
The median price of a single-family home reached $800,000 in April, according to The Warren Group, a real estate and mortgage data company. The Warren Group considers the 139 cities and towns within Interstate 495 in the Greater Boston area. In April 2024, the median house price stood at $760,000.
Through April, the median price of a single-family house was $765,000, up 6 percent from $721,000 during the first four months of 2024.
Home buyers purchased 1,505 houses in April, 16 fewer than in April 2024. April’s modest sales decline followed a 6 percent decline in house sales in March and a substantial sales increase at the start of 2025. Single-family home sales rose 6 percent in February and 11 percent in January in Greater Boston.
From January through April, single-family sales increased by 2 percent, rising from 4,735 in April 2024 to 4,824 in April 2025.
Statewide, single-family home sales remained flat, with 3,107 houses purchased in April, six fewer than in April 2024. The median house price increased by 3 percent in April to $630,000 from $610,000 in April 2024.
Condominium Sales, Prices Increase in April
Greater Boston condominium sales increased by nearly 5 percent in April compared to the same month last year and are up almost 3 percent through April compared to the same period last year.
The median condo price rose 4 percent in April to $629,000 compared to $602,500 in April 2024. From January through April, the median price rose to $625,000, a nearly 3 percent increase from $610,000 during the first four months of 2024.
Mortgage Interest Rates on the Rise
The average U.S. 30-year, fixed-rate mortgage loan was unchanged at 6.76 percent for the week ending May 8, 2025, and then increased slightly for three consecutive weeks, according to data compiled by Freddie Mac.
The 30-year, fixed-rate mortgage loan averaged 6.89 percent for the week ending May 29, 2025, compared to 7.03 percent a year ago.
Prospective Massachusetts home buyers should speak with more than one experienced loan officer. There are various loan programs available. It’s essential to take time to research and understand the total cost of borrowing before committing to a mortgage.
Understanding the total cost of borrowing means looking beyond the interest rate to consider other expenses, such as closing costs, including lender fees, attorney’s fees, and private mortgage insurance if required. Understanding the entire picture, including costs beyond the mortgage, can help buyers avoid unexpected financial strain and make more informed, confident decisions about purchasing a home.
