Massachusetts Housing Market: October 2026 Update

The Massachusetts housing market is moving in two directions this fall. In September the statewide median single-family sale price was $670,000, up 2.4% from a year ago, and single-family closings rose 4.8%. Condos went the other way: the median held at about $525,000 while condo sales fell 6.4%. More homes are coming up for sale, fewer are going under contract, and the 30-year mortgage rate averaged 7.24% this week, up from 6.17% a year ago.

Here is what that means in plain language, and what I'd do about it if you're selling or buying in Greater Boston.

What changed this fall

More choice for buyers. New single-family listings were up 7.6% in September and new condo listings up about 6%, according to the Massachusetts Association of REALTORS®. Lamacchia Realty's report, built on Warren Group and MLS PIN data, counted about 9,830 homes listed for sale in September, 6.3% more than a year earlier.

Fewer homes going under contract. The same report shows homes under contract down 7.9% (about 6,000 versus 6,500 last September). Contracts signed now are the closings we'll see in November and December, so expect the sales numbers to soften as the year ends.

More price cuts. Price reductions were up about 11% year over year. That doesn't mean prices are falling across the board. It means sellers who started too high are adjusting sooner.

Rates are the headwind. Freddie Mac's weekly survey put the 30-year fixed rate at 7.24% on October 29 and the 15-year at 6.60%. On a $670,000 home with 20% down, principal and interest come to roughly $3,650 a month at today's rate, about $380 more than the same loan would have cost a year ago.

If you're thinking about selling

Single-family homes are still holding their value, and in most of the towns I work in, well-prepared homes priced correctly are still selling. What has changed is how forgiving buyers are:

• Price for the market you're in, not the one from last spring. With more listings and more price cuts around you, buyers compare closely. A home that starts at the right number usually sells for more than one that starts high and chases the market down.
• Fall buyers are serious buyers. People shopping in October and November tend to have a reason to move: a new job, a relocation, a lease ending. Fewer casual lookers, more real offers.
• Condo owners need a sharper plan. With condo sales down and prices flat, presentation and pricing matter even more. If you don't need to sell right away, it's worth running the numbers on renting instead.
• Know your number first. Before you decide anything, get a written estimate of what you'd actually walk away with after commission, closing costs and your mortgage payoff. Our net proceeds calculator is a good place to start.

If you're buying

This is the most leverage buyers have had in a while, as long as your financing is ready:

• You have more room to negotiate. More inventory and more price cuts mean inspection contingencies, closing-cost credits and a reasonable offer below asking are back on the table in many towns. Not in all of them, so look at what's actually selling on the street you want.
• Shop your rate, and think about buying it down. A seller credit put toward a rate buydown can lower your monthly payment more than the same amount off the price. Ask your lender to show you both. If you'd like a second opinion, our mortgage team can compare options with you.
• Don't try to time rates perfectly. If rates fall next year, you can look at refinancing. If prices rise in the meantime, you can't go back and buy at this fall's price. Buy a home you can afford comfortably at today's payment.

The bottom line

This is a balanced fall market: steady for single-family homes, softer for condos, and more patient on both sides of the table. That rewards preparation. Sellers who price well and present well are still doing fine. Buyers with their financing in order have real choices for the first time in years.

Every town is different, and so is every street. If you'd like to see what's actually selling near you, book a free call and I'll walk you through it. No pressure, no obligation. You can also browse town-by-town guides to compare neighborhoods.

Common questions

Is fall 2026 a good time to sell in Massachusetts? For most single-family homes, yes. Prices are still slightly up from last year and fall buyers tend to be motivated. The key is pricing for today's market from day one, because buyers have more homes to compare against than they did in the spring.

Should I wait for mortgage rates to drop before buying? Nobody can tell you where rates will be next year. If the monthly payment works for you today and you plan to stay a while, waiting mostly adds risk. You can refinance later if rates fall, but you can't go back to this fall's price.

Are condos harder to sell right now? Somewhat. September condo sales were down 6.4% from a year ago with prices flat, so condos need sharper pricing and better presentation to stand out. Buildings with strong finances and low fees are holding up best.

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Sources: Massachusetts Association of REALTORS® September 2026 data, as reported by Boston Agent Magazine; Lamacchia Realty September 2026 Massachusetts Housing Report (Warren Group and MLS PIN data); Freddie Mac Primary Mortgage Market Survey, October 29, 2026. Payment example assumes a 30-year fixed loan of $536,000 and excludes taxes and insurance. This article is general information, not financial advice.