Are Home Prices Declining Anywhere? Yes, in These 13 Greater Boston Cities and Towns
Homes in Greater Boston are far from affordable, but the median price of single-family homes has declined in more than a few cities and towns during the first eight months of 2026.
Statewide, the Massachusetts Association of REALTORS® reported that the median price of a single-family home rose nearly 2 percent to $686,000 from January through August. Condominium prices rose about 1 percent to $564,950 during the same eight-month timeframe.
The following 13 Massachusetts cities and towns have seen more than a 2 percent year-over-year drop in median single-family home prices through August. Closed sales data is for the January-through-August period. This is not an exhaustive list, but one focused on the Boston area and in alphabetical order.
Amesbury, MA: Essex County (Closed Sales: 87)
The median price fell 7 percent to $680,000 compared to $730,000 during the first eight months of 2025.
Condominium prices fell 17 percent to $424,000.
Burlington, MA: Middlesex County (Closed Sales: 112)
The median house price through August dipped 2 percent to $871,111 from $891,000 during the same period in 2025.
Condominium prices jumped 17 percent to $974,500.
Dedham, MA: Norfolk County (Closed Sales: 144)
Through August, homebuyers paid 5 percent less than during the first eight months of 2025. The median price decreased 5 percent to $765,500 from $805,000.
Condominium prices slipped 2 percent to $511,000.
Framingham, MA: Middlesex County (Closed Sales: 279)
The median house price declined from $750,000 to $725,000, about a 3 percent decline through August.
Median condo prices dropped nearly 12 percent to $344,950.
Georgetown, MA: Essex County (Closed Sales: 51)
The median house price decreased 3 percent to $760,000 through August compared to $785,000 during the same period in 2025.
Condominium prices jumped 35 percent to $1 million, but only seven sales occurred.
Ipswich, MA: Essex County (Closed Sales: 54)
Through August, the median price fell 4 percent year over year to $897,500 from $932,500.
Condominium prices rose 15 percent to $675,000.
Medford, MA: Middlesex County (Closed Sales: 137)
The median house price slipped 3 percent to $900,000 from $925,000 through the first eight months of 2025.
Median condo prices rose nearly 6 percent to $691,750.
Newburyport, MA: Essex County (Closed Sales: 74)
Still above $1 million at $1,040,000, but down 15 percent from $1,233,500 in the January-through-August period last year.
Condominium prices rose 5 percent to $727,500.
Revere, MA: Suffolk County (Closed Sales: 80)
The median price of a single-family home fell 3 percent to $652,500 from $675,000.
The median condo price increased about 2 percent to $450,000.
Somerville, MA: Middlesex County (Closed Sales: 46)
From $1,539,000 to $1,375,000, single-family home prices dropped 11 percent through August year over year.
Condominium prices fell 5 percent to $865,000.
Waltham, MA: Middlesex County (Closed Sales: 126)
The median house price declined nearly 4 percent to $872,500 through August, down from $905,000 during the same period in 2025.
Median condo prices dipped about 1 percent to $685,000.
Westford, MA: Middlesex County (Closed Sales: 129)
Median prices plummeted 16 percent to $885,000 during the first eight months of 2026. During the same period last year, the median price was $1,050,000.
Condominium prices rose 3 percent to $650,000.
Winchester, MA: Middlesex County (Closed Sales 121)
Still incredibly expensive, but the median house price fell 7 percent from $1,885,950 to $1,750,000.
Condominium prices dropped 13 percent to $770,000.
Boston Apartments Are Shrinking
Boston’s newer apartments are getting smaller, running counter to national trends. According to a recent RentCafe report analyzing 100 U.S. cities, the average new Boston apartment measures just 747 square feet, ranking 13th smallest nationwide, Boston Agent reported. Over the past decade, local units have lost an average of 90 square feet.
RentCafe defined new apartments as those units built between 2016 and 2025.
Nationally, new apartments expanded slightly to an average of 910 square feet. Boston’s contraction is primarily driven by unit mix: studios (averaging 433 sq. ft.) and one-bedrooms (averaging 695 sq. ft.) make up 68 percent of all new inventory. While three-bedroom units grew to 1,284 square feet, they represent just 4 percent of new construction.
As RentCafe analysts note, this downsizing is strategic. In tight markets, prioritizing smaller units enables developers to add density and serve single-person households, trading square footage for much-needed inventory.
Mortgage Rates Edge Past 7%
According to Freddie Mac’s weekly Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 7.03 percent for the week ending September 24, 2026, up from 6.95 percent last week and 6.30 percent at this time last year.
What does this mean for homebuyers? With a $600,000 loan at 6.3 percent, borrowers paid $3,714 monthly. At 7.03 percent, that monthly nut rises to $4,004, a nearly $300 per month and nearly $3,600 per year difference.
Should first-time homebuyers wait for mortgage interest rates to decline? A better question is whether they can afford a house with the current interest rates. If so, they should buy and refinance if rates drop. If rates move higher, they’ll be glad they bought when they did.
The Boston Area’s Fall Buying Window
Nationally, the best week to buy a home lands in late September. In the Boston area, however, homebuyers will find their optimal window a month later: October 25 to October 31, according to a recent Realtor.com report.
During this late-October sweet spot, the report states Boston area buyers will encounter:
21 percent more active listings than earlier in the year
40 percent less competition compared to peak season
Median list prices about 7 percent below peak summer pricing
Nearly 2 percent more price reductions, with homes lingering 22 days longer on the market
Rather than treating late October as a rigid deadline, approach the season strategically. No magic window of opportunity exists. Most importantly, secure your financing and have it ready to go, and remember: all real estate is local.