Home sales in Massachusetts, especially in Greater Boston, took off to start 2025 after a modest rebound in 2024.
Statewide single-family home sales rose 9 percent to 2,626 houses in January 2025, according to statistics compiled by The Warren Group, a real estate data company. Condominium sales reached 1,159, a 19 percent jump from 973 in January 2024.
The median price of a single-family house reached $585,000, a 6 percent increase from January 2024 and an all-time high for January. Condominium prices also reached an all-time January high. The median condo price rose nearly 5 percent to $530,000 from $507,000 in January 2024.
The start of the 2025 housing market was even stronger in Greater Boston. Single-family sales jumped nearly 11 percent in January compared to January 2024. Home buyers purchased 1,229 houses, 118 more than in January 2024. The Warren Group defines Greater Boston as the 139 cities and towns within I-495.
The median price of a single-family home rose 9 percent to $750,000 from $690,000 in January 2024.
Greater Boston condominium sales soared in January, increasing 21 percent to 810 compared to 670 in January 2024.
The median condo price decreased by 1 percent to $620,000 in January, compared to $625,000 the previous year.
Homes Sales Rise Modestly in 2024 Dramatic Declines
Despite the real estate industry applauding the modest increase in single-family home sales in Massachusetts and Greater Boston in 2024, the sales numbers are significantly lower than a couple of years ago.
Statewide, house sales rose nearly 3 percent in 2024 compared to 2023, not much of an increase coming off a 22 percent drop from 2022 to 2023, The Warren Group reported.
There were 42,019 single-family homes sold in the Bay State in 2024 compared to 40,828 in 2023, 52,639 in 2022, and 62,335 in 2021. Even in 2020 – the year a worldwide pandemic kept many people from venturing outdoors for part of the year – home buyers purchased 61,845 houses. Compared to 2021, there were about 33 percent fewer single-family home sales in 2024.
Condominium sales dipped about 2 percent in 2024 after falling 19 percent from 2022 to 2023 and 17 percent from 2021 to 2022. Home buyers bought 18,783 condos in 2024, 19,199 in 2023, 23,606 in 2022, and 28,530 in 2021. The number of units sold in 2024 was 34 percent less than in 2021.
See a detailed real estate datasheet.
Single-family home and condominium sales in Greater Boston followed a similar trend, posting modest gains in 2024 after dramatic declines in 2023.
Single-family home sales increased nearly 4 percent in 2024 to 20,383 from 19,642 in 2023. In 2022, Greater Boston home buyers purchased 25,664 houses. Home buyers bought almost 21 percent fewer houses in 2024 compared to 2022.
Condominium sales dipped 2 percent in 2024 after dropping 18 percent from 2022 to 2023. Condo sales in 2024 (13,580) were 20 percent lower than in 2022 (16,967).
