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Single-family and condo prices both continued to rise in January even as the inventory of homes for sale has jumped, hinting at relief for buyers this spring.
The Massachusetts median single-family home price reached a new all-time high for the month of January, increasing by 6.4 percent on a year-over-year basis to $585,000 according to The Warren Group, publisher of Banker & Tradesman. In December the median single-family home price was $600,000.
The number of sales in the Bay State also continued to trend upwards. The Warren Group reported 2,626 single-family home sales in Massachusetts in January, a 9.3 percent increase year-over-year. In December, there were 3,657 home sales, an increase of 16.1 percent year-over-year.
The statewide condominium market also showed signs of potentially heating up, with 1,159 sales in the month of January. This was an increase of 19.1 percent from the same month in 2024 and just shy of the 1,492 condo sales seen in December
Still, prices continued to trend upwards, too, with the median sale price landing at $530,000, an increase of 4.5 percent year-over-year. This is also an increase in the median sale price from December, $521,750.
“The [condominium] median sale price reached an all-time high of $530,000, up 4.5 percent from 2024,” Cassidy Norton, media relations director at The Warren Group, said in a statement. “The increase in sales figures may indicate a rise in inventory as we head into the 2025 spring market, a welcome respite from several years of record-low home for sale.”
The Greater Boston condo market also saw an increase in the number of sales with 810 sales being recorded in January, a 20.9 percent increase year-over-year. Additionally, the median condo price dropped from $625,000 to $620,000.
There were also 1,229 single-family home sales in the Greater Boston housing market in January 2025, which was a 10.6 percent increase from January 2024. The median single-family sale price also increased 8.7 percent on a year-over-year basis to $750,000.
Indeed, the state’s for-sale market has gradually loosened this winter.
Single-family inventory increased 20.29 percent, from 3,967 in January of 2024 to 4,772 in January of 2025, according to the Massachusetts Association of Realtors. Additionally, condo inventory increased from 2,459 to 2,575 according to the association, a 4.72 bump.
Looking back to December 2024, when many of January’s closed home sales reported by The Warren Group would have gone under agreement, single-family inventory increased from 3,967 to 4,659 while condo inventory increased from 2,052 to 2,288 on a year-on-year basis.
