2024 Most Expensive Year for Home Sales in Massachusetts

Lesley Palmiter • February 7, 2025

Home buyers found a challenging year in 2024

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.

By lesley.palmiter June 6, 2025
Is it time to wave goodbye to home inspections as a negotiation tool? New state law says real estate agents can’t discuss such contingencies with buyers, sellers. By Jim Morrison Globe Correspondent, Updated June 6, 2025 For years now, home buyers in this super-competitive real estate market have felt pressured to waive their right to a home inspection when making an offer, knowing at least some competing buyers will likely do the same. A new state law aimed at eliminating that contention has agents and brokers talking. Implementation of the new regulations has been extended to Oct. 15, and includes language barring any contract provisions from frustrating the purpose of the home inspection, including “unreasonably limiting a prospective purchaser’s ability to schedule, receive, and review a home inspection.” If the inspection reveals the need for expensive repairs, the buyer can proceed, renegotiate the contract, or simply walk away from the deal. Without an inspection, the buyer doesn’t know exactly what they’re getting until after they own it and have no other option but to foot the repair bill themselves. Advertisement In recent years, some home buyers who waived their home inspection contingencies have discovered surprising and sometimes expensive repairs after the sale. Morgan Cohen, owner of the home inspection firm MKC Associates based in Watertown, said he’s done post-purchase inspections for homeowners who waived their right to have their house inspected before they bought and later regretted it. “We’ve done post-purchase inspections where we’ve found [dangerous] knob and tube wiring and others with underground oil tanks,” he said. “One of my colleagues inspected a house that was clearly built on a concrete foundation that contained pyrrhotite [which can cause concrete to fail]. A year after the owner purchased the home, he had it inspected and found out the foundation was crumbling and needed to be rebuilt.” Presumably, if those homes had been inspected prior to purchase, an inspector would have flagged them. The buyer could then have withdrawn the offer or negotiated a price that reflected the need for vital, expensive repairs. A contingent from the New England Chapter of the American Society of Home Inspection reached out to state Senator, Michael Moore, of Millbury for help. Moore has seen firsthand what can happen to families who unknowingly buy homes with dangerous and expensive flaws. His Central Mass. district around Worcester is home to a small but still growing number of homes with crumbling concrete foundations that contain pyrrhotite. The concrete looks fine at first, but over decades, cracks and spalls develop and eventually, the foundation becomes unsafe and must be replaced, costing homeowners $100,000 to $250,000 or more. Moore proposed a bill that was folded into the Massachusetts’ Affordable Homes Act that was signed into law in 2024. “The inspectors approached me with concerns that home buyers felt pressure to sacrifice their home inspection, and we talked about the liability that someone could incur by not having the home inspection,” Moore said. “I’m happy that the Executive Office of Housing and Livable Communities established some regulations that the home inspectors are happy with. This is going to benefit potential homeowners. It will protect their quality of life and their future financial security.” While home buyer advocates applaud the intention of the law — to level the playing field in what has been a years-long seller’s market because of lack of inventory — one concern that came up in every interview for this story was the difficulty to enforce it. A buyer’s agent could find a way to communicate that their client will forgo an inspection if their offer is accepted. As long as nothing is in writing, who would know? “We’ve seen our veteran and first-time home buyer clients get shut out of the market for almost a decade because of inspection contingencies. It’s a huge problem, so I’m all for this change,” said attorney Scott Kriss of Kriss Law / Atlantic Closing and Escrow, which is based in Needham but has offices nationwide. “It always comes down to the policing of the law. It’s going to be very hard to say, ‘You only took this offer because you knew they’d waive the inspection.’ Well, how do you know that? How’s it going to be enforced?” There are consequences for agents found violating the new law. The regulations read, “A violation or failure to comply with the provisions of 760 CMR 74.03 shall constitute an unfair or deceptive act or practice in the conduct of trade or commerce under M.G.L. c. 93A, [Section] 2, if undertaken by a Person acting in a business context, such as a Real Estate Salesperson or Real Estate Broker.”  Agents and brokers found violating Chapter 93A can be liable for triple the cost of the actual damages. “At least it’ll put agents in the mindset,” Kriss said. “They can’t lead with, ‘We’re only taking offers with no inspections.’ And whether that will happen or not, they’re going to be in the frame of mind that this is something that they can’t do.”
By Lesley.Palmiter March 26, 2025
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