2024 Most Expensive Year for Home Sales in Massachusetts

It was a frustrating experience for home buyers in 2024. They need to have deep pockets, a good banker relationship, and an open schedule. That said, the city of Waltham proved to be a bright spot in the mix. See below for 2024 statistics, story credit to the Waltham Patch.

Buyers hoping for a deal in the condo market were also out of luck, with the 2024 median price reaching $535,000, nearly a 5 percent increase from 2023. (Shutterstock photo).

MASSACHUSETTS — The Warren Group has published its December housing market report, revealing that, in 2024, the price for a home in Massachusetts has never been more expensive.

In 2024, the median price for a single-family home rose by nearly 8 percent, eclipsing the $600,000 mark to reach $615,000.

In December, there were 3,657 single-family home sales in Massachusetts, a 16 percent increase from December 2023 when there were 3,150 transactions. Meanwhile, the median single-family home price increased 11 percent year-over-year to $600,000, a new all-time high for December, matching the high mark for the yearly total.

During the course of 2024, there were 42,019 single-family home sales in Massachusetts, a 2.9 percent increase from 2023. In addition, the year-end median single-family home price increased 7.9 percent on the same basis to $615,000 – a new all-time high.

Waltham was a bit of a rarity in the 2024 home market, as the city saw both less homes sold and a slight decrease in median sale price. The city saw more than 12 percent fewer homes sold in 2024, and the median price decreased by $1,000 compared to 2023, with the number now sitting at $785,000.

Buyers hoping for a deal in the condo market are also out of luck, with the 2024 median price reaching $535,000, nearly a 5 percent increase from 2023.

During the course of 2024, there were 18,783 condo sales, a 2.2 percent decrease from 2023, which marked the fewest condo sales for a year since 2011. Meanwhile, the year-end median sale price increased 4.9 percent from 2023 to $535,000 – a new all-time high.