Greater Boston Real Estate Market Update: Prices Up, Sales Down
The Problem With Private Listing Networks | What’s Holding Back First-time Homebuyers? | Does Your Homeowners Association Have Sufficient Reserves?
After a slow start to 2026, single-family and condominium sales rose modestly in April but were down in Greater Boston through the first four months of the year, according to data compiled by The Warren Group.
Greater Boston single-family sales rose by 48 units in April, a 3 percent increase, but were down 2 percent in the first four months of the year compared with the same period in 2025.
The Warren Group, a publisher of real estate data, defines Greater Boston as the 139 cities and towns within the Interstate 495 corridor.
The median house price rose 2 percent to $815,000 in April from $799,000 in April 2025. The median price also increased by 2 percent during the January-through-April period to $779,750 from $765,000 during the same period last year.
Condominium sales rose by 32 units, or almost 3 percent, year over year in April. Sales slipped 2 percent through April compared to the first four months of 2025.
Condominium prices in Greater Boston fell in April and through the end of April. The median condo price declined by more than 1 percent to $620,000 in April, down from $629,000 in April 2025. Through the first four months of 2026, the median condo price dropped 5 percent to $595,000 from $625,000 during the same four-month period last year.
Statewide, there were only two months of single-family inventory in April, according to the Massachusetts Association of Realtors. The condo market had about three months of supply. About five months of inventory is considered a balanced market between homebuyers and sellers. Read more about the statewide numbers.
The Problem with Private Listing Networks
Private listing networks, pocket listings, office exclusives, and other off-market practices can sound harmless, but they can create real problems for home buyers, according to the National Association of Exclusive Buyer Agents (NAEBA).
NAEBA is absolutely correct. NAEBA says these reduced-exposure approaches limit the visibility of homes for sale and make it harder for buyers to understand the full market. In addition, sellers’ homes are not receiving full exposure to qualified homebuyers.
When homes are listed on private channels or brokerage-specific networks, homebuyers may miss available properties, lose the ability to compare homes effectively, and face added pressure to work within a single company’s system. These practices could also make conflicts of interest harder to spot, especially when a brokerage has an incentive to keep a transaction “in-house.”
Transparency matters in real estate. Broad public exposure through the MLS helps buyers compare options, evaluate price, and make educated decisions. NAEBA also warns that off-market sales can weaken the data used in comparative market analyses, skew inventory figures, and raise fair housing concerns by limiting access to homes.
The bottom line: consumers – homebuyers and sellers – are best served by open, transparent markets and loyal representation. Consumers should reject real estate brokerages that market exclusive listings.
What’s Holding Back First-time Homebuyers?
First-time homebuyers, primarily Gen Z, Younger Millennials, and Older Millennials, face several major financial obstacles when entering the housing market, according to the National Association of Realtors’ 2026 Generational Trends Report.
Spoiler alert: It’s not easy buying a home anywhere, especially in metro areas with high housing costs, such as Greater Boston.
The primary financial roadblocks include:
1. Saving for a down payment: Gathering enough money for a down payment is a major obstacle, with 30 percent of Younger Millennials and 27 percent of Gen Z buyers citing this as the most difficult step in the entire home buying process. Unlike older buyers who can frequently tap equity from a previous home sale, younger, first-time homebuyers must rely primarily on their personal savings.
2. High living costs and existing debt: Homebuyers are most frequently delayed in their savings goals by high rental costs, credit card debt, and student loans. Gas between $4 and $5 per gallon can’t possibly help either. Among buyers who reported that saving for a down payment was difficult, 46 percent cited high rent or current mortgage payments as a delaying factor, 37 percent cited credit card debt, and 36 percent pointed to student loans. Car loans also delayed savings for 33 percent of Younger Millennials. According to LendingTree, the average amount financed is $43,582 for new cars and $27,528 for used cars in the United States. This breaks down to an average monthly payment of $767 for new vehicles and $537 for used vehicles, with average loan terms ranging from 64 to 72 months, depending on one’s credit score.
3. Heavy student loan burdens: Student debt disproportionately impacts younger first-time buyers. For example, 39 percent of Younger Millennials reported having student loan debt, carrying a median balance of $30,000.
4. Mortgage approval challenges: When homebuyers apply for financing, debt can be a barrier. Among all buyers whose mortgage applications were rejected, the leading causes were a high debt-to-income ratio (45 percent), a low credit score (24 percent), and insufficient reserves (13 percent).
To deal with these problems, many first-time buyers have to make financial sacrifices, most commonly cutting their spending on luxury items, non-essential goods, and entertainment. Additionally, to bridge the savings gap, many rely on assistance from loved ones. For instance, 26 percent of Younger Millennials received down payment help in the form of a gift or loan from a friend or relative.
Does Your Homeowners Association Have Sufficient Reserves?
HOA Start, a company that creates software for homeowners associations (HOAs), released its The State of HOA Reserves in 2026 report, which indicates that 70 percent of HOAs are underfunded.
The underfunding stems from short-term governance decisions that prefer low monthly dues over the long-term upkeep of essential shared assets, such as roofs and parking lots. Consequently, many associations now face a greater number of larger special assessments, loan denials, and rising insurance costs due to deferred maintenance.
Veteran real estate journalist Jim Morrison recently wrote about HOA fees for the Boston Globe. The article discusses changing regulations and the reasons condo owners choose to keep monthly fees low.
On March 18, the Federal National Mortgage Association (Fannie Mae) announced it is raising the minimum reserve requirement for condo associations seeking Fannie Mae-backed mortgages, from 10 percent of the operating budget to 15 percent, effective Jan. 4, 2027.