Price Growth: House v. Condo

While there are valid reasons for prospective Massachusetts homebuyers to choose between a single-family home and a condominium, single-family houses have been the clear winner in price appreciation over the past three years. In March 2019, the median price of a single-family home was $390,000. Since then, the median price statewide has grown 41 percent to $549,450 in March 2022, according to data compiled by the Massachusetts Association of Realtors. By comparison, the median condo price has risen 28 percent over the same three-year period, from $375,000 (March 2019) to $480,000 (March 2022). The price difference between a single-family and condominium home was only $15,000 in March 2019 ($390,000 v. $375,000). During those three years, median single-family house prices increased by $159,450 – $146 per day! – and condo prices increased by $105,000.