Massachusetts Real Estate Market Overview: 2024–2025 Year-Over-Year Analysis

The Massachusetts real estate market in 2025 continued to evolve into a more measured and balanced environment compared to the frenetic pace of prior years. Using MLS data across the entire state, this report examines year-over-year changes between 2024 and 2025, focusing on sales volume, pricing trends, negotiation dynamics, and market velocity across three major property types: Condominiums, Single Family Homes, and Multifamily properties.

While demand remained present across all segments, buyer behavior became more deliberate, price growth diverged by property type, and days on market increased across the board—signaling a market that is active, but no longer rushed.

Single Family Home Sales Trends

Single Family homes remained the backbone of the Massachusetts housing market in 2025, representing the largest share of transactions and delivering the strongest price appreciation of any property type.

Closed sales increased by 2.26%, growing from 38,050 units in 2024 to 38,909 units in 2025, confirming continued demand despite affordability pressures. Pricing gains were significant: the average sale price rose 5.50% to $854,571.73, while price per square foot increased 0.68% to $391.74.

Sellers in this segment continued to perform well in negotiations, achieving 101.17% of list price on average, though slightly below the 101.93% recorded in 2024. This subtle decline suggests a gradual cooling from peak seller-dominant conditions.

Market pace slowed modestly, with average days on market increasing from 35 to 39 days, giving buyers more time to evaluate options while still reflecting a competitive environment—particularly for well-located, move-in-ready homes.

Condominium Sales Trends

The condominium market posted solid growth in transaction volume in 2025 but showed the most restrained price appreciation among the three property types. Closed condo sales increased by 2.48%, rising from 16,562 units in 2024 to 16,973 in 2025, indicating continued demand—particularly from first-time buyers, downsizers, and urban purchasers.

Pricing growth, however, was modest. The average sale price increased by just 1.33%, from $700,593.73 to $709,926.91. More notably, the average price per square foot declined slightly by 0.40% to $537.43, suggesting increased buyer sensitivity to value and condition.

Negotiation dynamics shifted as well. Sellers received 99.95% of list price on average, down from 100.79% in 2024, reflecting slightly improved leverage for buyers. Condominiums also experienced the slowest market velocity, with average days on market increasing from 40 to 45 days, reinforcing the trend toward longer decision-making timelines in this segment.

Multifamily Property Sales Trends

The multifamily segment stood out in 2025 as the only property type to experience a decline in sales volume, yet it continued to demonstrate strong pricing power driven by rental demand and long-term investment fundamentals.

Closed sales decreased by 0.61%, slipping from 5,536 units in 2024 to 5,502 in 2025. Despite this contraction in volume, pricing surged. The average sale price increased by 4.80% to $872,397.87, while price per square foot rose a notable 3.17% to $290.33.

Negotiation metrics softened slightly, with sellers receiving 100.56% of list price, down from 101.35% the prior year, reflecting more cautious underwriting by investors. Even so, multifamily properties remained the fastest-moving segment, with average days on market increasing only slightly from 34 to 37 days, outperforming both condos and single-family homes in terms of efficiency.

Comparative Market Insights Across Property Types

When viewed together, the 2025 data highlights clear differences in how each segment is responding to evolving market conditions.

Volume vs. Value

• Transaction Growth: Condominiums (+2.48%) and Single Family Homes (+2.26%) both saw healthy volume growth, while Multifamily (-0.61%) was the only category to contract.

• Price Appreciation: Single Family Homes led the market with a 5.50% increase, followed closely by Multifamily at 4.80%. Condominiums trailed significantly at 1.33%.

Market Velocity

• Fastest Segment: Multifamily properties sold the quickest, averaging 37 days on market.

• Slowest Segment: Condominiums remained on market the longest at 45 days, compared to 39 days for Single Family homes.

Price Per Square Foot Trends

• Multifamily properties recorded the largest gain in price per square foot (+3.17%).

• Single Family homes saw modest growth (+0.68%).

• Condominiums experienced a decline (-0.40%), highlighting increased buyer selectivity and pricing pressure in that segment.

Bottom Line

The 2025 Massachusetts real estate market reflects a clear shift away from urgency and toward intentional decision-making. Demand remains present, but buyers are more discerning, pricing growth is uneven across property types, and longer days on market are becoming the norm.

For buyers, this environment offers more time, more leverage, and better visibility into value—particularly in the condominium market. For sellers, success increasingly depends on strategic pricing, strong presentation, and understanding how your specific property type is performing within the broader market.

If you’re planning to buy, sell, or simply want to understand how these trends apply to your specific goals, a local, data-driven strategy matters more than ever.

Sources

Massachusetts MLS Data | 2024–2025