Massachusetts Real Estate Market Update

Single-family home inventory in Massachusetts continued its decline in April, falling 27 percent year over year. According to data compiled by the Massachusetts Association of Realtors, there were 5,326 houses for sale in April 2021, but only 3,819 last month. The lack of inventory fueled price inflation, with the median price of a single-family home rising 12 percent and reaching $590,000. Sales dropped 16 percent. Condominium inventory plummeted 37 percent, causing sales to fall 15 percent and prices to increase 11 percent to $540,000.