MELROSE — The final 2024 local home sale numbers are in and they show that a single-family house sold for median price of $869,000 in Melrose, not much more than the year before.
According to the latest report from The Warren Group, a leading provider of national real estate and transaction data, the median price of the 191 single-family homes sold in the city in 2024 was just $9,000 more than the median price of the 172 single-families sold here in 2023.
For the month of December, 16 single-families sold in Melrose for a median price of $928,750. In December 2023, 15 single-families sold for a median price of $785,000.
Across the state, The Warren Group reports that the median single-family home price reached a new all-time high in 2024, rising 7.9 percent on a year-over-year basis to $615,000.
In December, there were 3,657 single-family home sales in Massachusetts, a 16.1 percent increase from December 2023 when there were 3,150 transactions. Meanwhile, the median single-family home price increased 11.1 percent on a year-over-year basis to $600,000, a new all-time high for the month of December.
During the course of 2024, there were 42,019 single-family home sales in Massachusetts, a 2.9 percent increase from 2023. In addition, the year-end median single-family home price increased 7.9 percent on the same basis to $615,000 – a new all-time high.
“Massachusetts saw a total of 42,019 single-family home sales in 2024, marking a 2.9 percent increase from 2023,” said Cassidy Norton, associate publisher and Media Relations director of The Warren Group. “The year also set new records, with the year-end median home price reaching an all-time high of $615,000, up 7.9 percent year-over-year. December alone experienced a 16.1 percent surge in sales compared to December 2023, with 3,657 transactions and a median price of $600,000, another record for the month.”
Condominiums
There were 1,492 condominium sales in December 2024, compared to 1,350 in December 2023 – a 10.5 percent increase. Meanwhile, the median condo price increased 5.0 percent on a year-overyear basis to $521,750, up from $496,744 in December 2023, marking a new all-time high for December condo prices.
During the course of 2024, there were 18,783 condo sales, a 2.2 percent decrease from 2023, which marked the fewest condo sales for a year since 2011. Meanwhile, the year-end median sale price increased 4.9 percent from 2023 to $535,000 – a new all-time high.
“In 2024, there were 18,783 condominium sales, marking a 2.2 percent decrease from the previous year and the fewest annual condo sales since 2011,” Norton added. As a result, the median sale price reached an all-time high of $535,000, up 4.9 percent from 2023. December alone saw a 10.5 percent increase in sales year-over-year, with the median condo price hitting $521,750, another record high for the month.”
Last month in Melrose, seven condos sold for a median price of $450,000. In December 2023, nine condos sold in the city for a median price of $610,000.
For the year, 72 condos sold in the city for a median price of $592,500. In 2023, 76 condos sold here for a median price of $462,500.
Greater Boston single-family homes
There were 1,719 single-family home sales in the Greater Boston housing market in December 2024, which marked a 17.3 percent increase from December 2023 when there were 1,466 transactions. Meanwhile, the median single-family sale price increased 7.1 percent on a year-over-year basis to $750,000. Year-to-date, there were 20,383 single-family home sales in the Greater Boston housing market in 2024 – up 3.8 percent from 2023 – with a median sale price of $760,000 – up 6.3 percent from 2023.
Greater Boston condominiums
In December, there were 1,044 condo sales in the Greater Boston housing market, up from 964 sales in December 2023, marking an 8.3 percent increase. Meanwhile, the median condo price increased 4.0 percent on the same basis to $602,950, up from $580,000 a year earlier. Year-to-date, there were 13,580 condo sales in the Greater Boston housing market in 2024 – down 2.1 percent from 2023 – with a median sale price of $620,000 – up 3.4 percent from 2023.