Two Takes on Local Real Estate Trends

Two real estate reports dropped Friday....

The Massachusetts median single-family home price was $600,000 in March 2026, unchanged versus March 2025, according to a new report from The Warren Group, a leading provider of national real estate and transaction data. And the Norfolk Registry of Deeds sees a calmer picture within the county.

First, some data from Warren Group...

There were 2,660 single-family home sales in Massachusetts in March, an 8 percent increase from
March 2025, when there were 2,463 transactions. Meanwhile, the median single-family home price
was unchanged at $600,000.

There were 6,937 single-family home sales in the first three months of 2026, a 4.2 percent decrease
from 2025. The median single-family home sale price increased 1.7 percent on the same basis to
$600,000.

“The market in January or February when these purchases went under agreement was remarkably
slow, due to some truly nasty weather in those months,” said Cassidy Norton, Associate Publisher
and Media Relations Director of The Warren Group. “That resulted in fewer closed sales in March.
Realtors report inventory continued to grow in March and April, buoyed by sales delayed by the
weather as well as the beginning of the traditional spring market.”

There were 1,303 condominium sales in March 2026, compared to 1,388 in March 2025 – a 6.1
percent decrease. Meanwhile, the median condo sale price decreased 7 percent on a year-over-year
basis to $504,000, down from $542,000 in March 2025.
There were 3,331 condominium sales in the first three months of 2026, an 8.8 percent decrease
from 2025, in which there were 3,654. Meanwhile, the year-to-date median sale price was $505,000, a 4.7 percent decrease from 2025, when it was $530,000.
“The condo market continues to slide,” Norton continued. “The number of sales and the median sale prices dropped for both the month and the year. This could be a sign that the condo market is
beginning to stabilize – or it may be due to more volatile factors that will change in the coming
months. Future sales this spring will help round out that picture.”

The View from the Registry of Deeds

For his part, the Norfolk County Register of Deeds William P. O’Donnell reports that real estate recording activity for the first quarter of 2026 (January, February, and March) reflected continued stability across the Norfolk County real estate market, with increases in overall document recordings, sales volume, average sale prices, and mortgage activity compared to the same period in 2025.

The Norfolk County Registry of Deeds recorded 23,802 documents during the first quarter of 2026, marking a 5% increase during the same period in 2025. March was the busiest month of the quarter for real estate activity, with 8,812 documents recorded, marking a 15% increase from March 2025. However a concern is that the number of deeds recorded during the first quarter of 2026 was lower than during the same period in 2025.

“The first quarter showed steady engagement in real estate activity across Norfolk County,” stated Norfolk County Register of Deeds William P. O’Donnell. “While activity typically fluctuates at the beginning of the year, these figures demonstrate that residents and businesses continue to buy, sell, refinance, and invest in property throughout the county. The activity in March overcame a sluggish start in the real estate market in January and February of this year.”

The number of deeds recorded during the first quarter of 2026, which reflect both commercial and residential real estate transfers, was 3,252, marking a 5% decrease during the same period in 2025. Deeds recorded for consideration, representing actual sales, totaled 1,346, marking a 7% decrease compared to the first quarter of 2025.

“The decline in deed recordings associated with property sales continues to reflect the limited number of homes coming to market,” said Register O’Donnell. “Homeowners may be reluctant to sell and give up favorable mortgage rates obtained in prior years, particularly as rising fuel prices and higher day‑to‑day living costs place added strain on household budgets.”

The total volume of commercial and residential real estate sales during the first quarter of 2026 reached $1.75 billion, marking a 5% increase during the same period in 2025. The average sale price for commercial and residential properties rose to $1,301,355, marking a 13% increase compared to the first quarter of 2025.

“Even as the number of sales declined slightly, overall sales volume and average prices increased during the first quarter,” stated Register O’Donnell. “This reflects continued demand for both commercial and residential property across Norfolk County and reinforces the desirability of our communities as places to live, work, and do business. Limited supply with this overall demand contributes to increased sale prices.”

Mortgage activity showed notable growth during the first quarter of 2026. A total of 4,137 mortgages were recorded, marking a 26% increase during the same period in 2025. According to The Federal Home Loan Mortgage Corporation, the average mortgage interest rate for a 30-year fixed-rate mortgage during the first quarter of 2025 ranged between 6.6% and 6.9%, while rates during the first quarter of 2026 ranged between approximately 5.98% and 6.38%.

“The increase in mortgage filings indicates that residents continue to actively secure financing for property purchases and refinancing,” Register O’Donnell continued. “Improved lending conditions compared to last year during the same time period appear to be encouraging continued participation in the real estate market, even as affordability challenges remain.”

The foreclosure market in Norfolk County saw positive developments during the first quarter of 2026. There were 11 foreclosure deeds recorded as a result of mortgage foreclosures taking place in Norfolk County, down 39% from the 18 recorded in the first quarter of 2025. Notices to foreclose also declined by 4%, with 66 notices recorded compared to 69 during the same time period last year.

“The reduction in foreclosure activity during the first quarter is an encouraging development,” said Register O’Donnell. “At the same time, we must remember that foreclosure activity has a human impact, and there are still individuals and families facing serious financial challenges. I would urge anyone struggling to pay their mortgage, or who knows someone in this situation, to reach out to one of the non‑profit organizations listed on our website, www.norfolkdeeds.org.”