iStock illustration
Massachusetts home sales ticked down last month and prices rose again, even before the latest bout of economic uncertainty clouded over the nation.
The median single-family home price was $600,000 in March of 2025, an increase of 3.4 percent on a year-to-year basis according to a new report from The Warren Group, the publisher of Banker & Tradesman. Additionally, on a year-to-date basis, the median single-family home price increased by 5.3 percent to $585,000 compared to 2024.
While there were price gains during the month, March did see a reduction in the number of sales on a year-over-year basis. In March of 2025, there were 2,460 single-family home sales in Massachusetts, a 4.2 percent decrease from 2024 when there were 2,569 transactions.
The drop came despite a long decline in mortgage rates beginning in early January and ending in the lowest average interest rate – 6.63 percent at the start of March, according to mortgage-buyer Freddie Mac – seen since last fall, and a related uptick in mortgage rate-locks in Greater Boston last month, according to data firm Optimal Blue.
But looking at the year-to-date totals, transactions are still on the rise. So far in 2025, there were 7,326 single-family home sales in the first three months of 2025, a three percent increase from 2024.
“Though the number of single-family home sales declined slightly on a year-over-year basis, the number of year-to-date sales is up versus 2024,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “Hopefully that’s an indication that the number of homes on the market is increasing and easing the inventory crunch somewhat. Given the current state of the federal government, it’s impossible to predict what interest rates will do, or whether inflation will continue to constrain the buying power of prospective homeowners.”
One additional data point supporting the idea the housing market might be cooling slightly: a falling ratio of list price to sale price in Greater Boston, Massachusetts’ biggest housing market by far. According to data from brokerage and listings portal Redfin, the average seller got only 98 percent of their list price for most of March, and the ratio has been steadily tracking below 2024’s trend all year.
The Greater Boston market followed similar trends to the state as a whole. There were 1,145 single-family home sales in the Greater Boston housing market in March of 2025, which was a 5.8 percent decrease on a year-to-year basis when there were 1,215 transactions. Additionally, the median single-family home price increased by 2.2 percent to $756,000.
