Executive Summary
- Norfolk County’s median home listing price increased by 2.7% to $899,000 in September, while Plymouth County’s median price decreased by 1.2% to $759,900.
- Homes in both Norfolk (31 days) and Plymouth (40 days) Counties moved significantly faster than the national median of 62 days on the market.
- Across the broader market, the Boston-Cambridge-Newton metro area saw a slight increase in median home prices, while Massachusetts statewide and national median prices experienced slight decreases in September.
The Trajectory So Far
- The housing market analysis specifically tracks median listing prices for single-family homes, condominiums, and townhomes currently on the market, excluding new construction and properties already under contract, with the median chosen as a more accurate market indicator than the average price and reflecting only listed homes, not sold ones.
Assessing Risk and Value
- Investors assessing the Massachusetts housing market should recognize the localized divergence in trends, with Norfolk County showing stronger monthly price appreciation and faster price per square foot growth, while Plymouth County experiences a slight monthly dip despite positive year-over-year gains. However, both counties present attractive liquidity for investors due to significantly quicker days on market compared to the national average, underscoring the importance of granular, location-specific analysis to balance capital appreciation potential against entry costs and market momentum.
Expert Predictions and Forecasts
- The housing market in Norfolk County is experiencing an upward trend, with median listing prices increasing by 2.7% month-over-month and homes selling significantly faster than the national average.
- Plymouth County’s housing market, despite a 1.2% monthly dip in median listing prices, demonstrates underlying resilience with a 3.8% year-over-year increase and relatively brisk sales activity.
- The broader Massachusetts housing market, including the Boston-Cambridge-Newton metro area, shows varied and localized dynamics, where county-level trends can diverge from statewide or national figures.
Median home listing prices in Norfolk and Plymouth Counties, Massachusetts, diverged in September, according to an analysis of Realtor.com data by the USA TODAY Network. Norfolk County saw its median list price increase to $899,000, a 2.7% rise from the previous month. Conversely, Plymouth County experienced a slight decrease, with its median home listing price falling 1.2% to $759,900.
Norfolk County Sees Price Uptick
In Norfolk County, the median home listed for $899,000 in September, an increase from $875,000 in August. However, this figure represents a slight decrease compared to $899,450 in September 2024. Homes in the county moved quickly, with a median of 31 days on the market, significantly faster than the national median of 62 days.
The median home size was 2,056 square feet, with a price of $477 per square foot, marking a 4.7% increase from September 2024. New listings also climbed, with 864 homes added to the market in September, a 5.6% rise from 818 new listings in the same month last year.
Plymouth County Experiences Slight Dip
Plymouth County’s median home list price was $759,900 in September, down from $769,000 in August. Despite this monthly dip, the county’s median list price still showed a 3.8% increase when compared to $732,000 in September 2024. Properties in Plymouth County also sold relatively fast, with a median of 40 days on the market.
The median home had 2,040 square feet, listed at $382 per square foot, which remained mostly unchanged from September 2024. New listings saw a modest increase, with 648 homes newly listed in September, a 0.6% rise from 644 new listings in September 2024.
Broader Market Context
Across the wider Boston-Cambridge-Newton metro area, median home prices rose to $812,000 in September, a slight increase from the previous month. The median home in the metro area was 1,811 square feet, priced at $472 per square foot.
Statewide in Massachusetts, the median home price was $753,950, a slight decrease from August. The median Massachusetts home listed for sale had 1,847 square feet, with a price of $430 per square foot. Nationally, the median home price was $425,000, also a slight decrease from the prior month, for a median home of 1,840 square feet at $226 per square foot.
Understanding the Data
The statistics in this report focus exclusively on houses listed for sale and do not reflect sold homes. The median home list price represents the midway point of all listed properties over the given period, which experts consider a more accurate market indicator than the average price.
This data specifically covers single-family homes, condominiums, and townhomes, including existing homes. It largely excludes new construction and properties under pending or contingent sales agreements.
Key Takeaways
September’s housing market data highlights a nuanced picture in Massachusetts, with contrasting trends in median list prices between Norfolk and Plymouth Counties. While Norfolk saw an increase, Plymouth experienced a slight decline, both counties continued to show brisk market activity compared to national averages. These localized movements underscore the varied dynamics within the broader regional and national housing markets.
