MELROSE — The city’s single-family home sales seem to have cooled a bit in the first quarter of 2025, according to the most recent report from The Warren Group, a leading provider of national real estate and transaction data.
Through the first three months of 2025, 20 single-family homes sold in Melrose for a median price of $847,500. During the same period last year, 30 single-families sold for a median price of $860,500.
Last month, nine single-family homes sold in the city for a median price of $768,000. That is well down from the $970,500 median price brought by the 12 single-families sold in March 2024.
Across the state, the median single-family home price was $600,000 in March 2025, an increase of 3.4 percent over March 2024, according to The Warren Group.
In March, there were 2,460 single-family home sales in Massachusetts, a 4.2 percent decrease from March 2024 when there were 2,569 transactions. Meanwhile, the median single-family home price increased 3.4 percent on a year-over-year basis to $600,000.
There were 7,326 single-family home sales in the first three months of 2025, a 3 percent increase from 2024. The median single-family home sale price increased 5.3 percent on the same basis to $585,000.
“Though the number of single-family home sales declined slightly on a year-over-year basis, the number of year-to-date sales is up versus 2024,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “Hopefully that’s an indication that the number of homes on the market is increasing and easing the inventory crunch somewhat. Given the current state of the federal government, it’s impossible to predict what interest rates will do, or whether inflation will continue to constrain the buying power of prospective homeowners.”
Condominiums
In Melrose, seven condos sold last month for a median price of $427,500. That price is still down from the $565,000 median price brought by the five condos sold in the city in March 2024.
Between January 1 and March 31, 2025, 14 condos sold in the city for a median price of $538,750, compared to the seven condos sold in Melrose during the same period last year, which fetched a median price of $635,000.
Statewide, there were 1,388 condominium sales in March 2025, compared to 1,431 in March 2024 – a 3 percent decrease. Meanwhile, the median condo sale price decreased 1.5 percent on a year-over year basis to $542,000, down from $550,000 in March 2024.
There were 3,654 condominium sales in the first three months of 2025, a 5 percent increase from 2024, in which there were 3,481. Meanwhile, the year-to-date median sale price increased 1.9 percent from 2024 to $530,000.
“Despite a promising increase in the number of condo sales in the first few months of the year, sales are down again in March,” Norton added. “However, the median sale price decreased for the first time since April of 2023, welcome news for would-be condo buyers.”
Greater Boston single-family homes
There were 1,145 single-family home sales in the Greater Boston housing market in March 2025, which marked a 5.8 percent decrease from March 2024, when there were 1,215 transactions. Meanwhile, the median single-family sale price increased 2.2 percent on a year-over-year basis to $756,000. Year-to-date, there were 3,319 single-family home sales in the Greater Boston housing market in 2025 – up 3.3 percent from 2024 – with a median sale price of $750,000 – up 6.1 percent from 2024.
Greater Boston condominiums
In March, there were 982 condo sales in the Greater Boston housing market, down from 1,076 sales in March 2024, marking an 8.7 percent decrease. Meanwhile, the median condo price increased 1.6 percent on the same basis to $650,000, up from $640,000 a year earlier. Year-to-date, there were 2,565 condo sales in the Greater Boston housing market in 2025 – up 1.7 percent from 2024 – with a median sale price of $625,000 – up 1.6 percent from 2024.