In Greater Boston, home sales exhibited a slight year-over-year decline, with a reported drop of 5.8%. However, median prices for single-family homes rose by 2.2%, indicating a complex market situation. Interestingly, there was a notable increase in year-to-date sales compared to 2024, suggesting potential easing of inventory issues. In contrast, condo sales experienced a sharper decline of 8.7%, alongside a modest price increase. A study highlighted significant long-term appreciation in home prices, underscoring the area's evolving real estate landscape amidst economic uncertainties.
"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.
"Hopefully that's an indication that the number of homes on the market is increasing and easing the inventory crunch somewhat."
"According to a recent study done by Real IQ, Boston's home prices increased 158% over the past decade."
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