In this post, we’ll share the key indicator that gives us the clearest insight into where home prices are headed this year, then review what the latest data from the first quarter of 2025 tells us about the market. We’ll finish with practical, expert advice for home buyers and sellers who want a leg up in what continues to be one of the most competitive real estate markets in the country.

And make no mistake—this post is not just to share helpful information. I’m Warren Reynolds, a real estate attorney and real estate broker with nearly 30 years of experience in Massachusetts. We help motivated buyers and sellers succeed in today’s market. If you want to win in 2025’s real estate landscape, contact us today for a free market strategy session.

Home Prices in Massachusetts: Still Rising

Let’s begin with the headline figure: single-family home prices in Massachusetts rose 4.9% in the first quarter of 2025 compared to the same period in 2024. That is a strong rate of appreciation, especially considering how much prices had already risen in previous years.

Here in Franklin, MA, we saw a more modest—but still positive—1.4% increase in median home prices during Q1 2025. That may seem like a slowdown at first glance, but context is everything: in the first quarter of 2024, Franklin home prices surged an astonishing 23%. This year’s slower growth is not a sign of weakness—it’s more like a healthy breather after a sprint.

This data confirms what we’ve been seeing at open houses and closings: the Massachusetts market continues to move up. And if you’re planning to sell your home or buy a new one, it’s more important than ever to understand what’s really driving these trends—and how to use them to your advantage.

What’s Driving the Market? Overwhelming Buyer Demand

The most critical factor affecting home prices in 2025 is buyer turnout at open houses.

We’ve been attending and hosting open houses all across the region, and we can tell you—the turnout has been overwhelming. Long lines of cars parked up and down the street. Packed living rooms. Busy driveways. There’s no better boots-on-the-ground indicator of strong demand than seeing dozens of motivated buyers touring homes week after week.

Until that demand starts to falter—and we’ll let you know when and if it does—prices in Massachusetts will continue to face upward pressure. There simply aren’t enough homes to go around.

Supply Is Still Tight

You may have heard that inventory levels are starting to improve. That’s only partly true. Yes, there’s a bit more supply now than a year ago—but we’re still in severely limited territory.

• Statewide, Massachusetts has just 1.4 months of supply of single-family homes, up slightly from 1.1 months in Q1 2024.
• In Eastern Massachusetts, there’s only 1.3 months of supply, compared to 1.0 months last year.
• Here in Franklin, we have a scant 1.0 month of inventory—up from just 0.5 months in early 2024.

For context, a balanced market typically needs 4 to 6 months of inventory. We’re nowhere near that. This is why competition remains fierce and bidding wars are still very common.

Sales Volume Reflects Low Supply, Not Weak Demand

Despite the rising prices, sales volume has slightly decreased across Massachusetts compared to the first quarter of 2024.

However, that dip does not mean buyers are pulling back. Quite the opposite—buyers are out in full force, but there just aren’t enough homes to go around.

Interestingly, Franklin, MA bucked the statewide trend, showing a marginal increase in home sales volume.

That’s a sign of strength and continued demand in our local market.

What This Means for Home buyers in 2025

If you’re planning to buy a home this year, here’s my advice:

1. Go to as many open houses as possible.
Nothing beats real-world experience. You’ll quickly develop an “eye for value” and learn what home features matter most to today’s buyers. The more you see, the better prepared you’ll be to act fast when the right home hits the market.

2. Be ready to bid high on new listings.
New listings that are priced right often attract multiple offers within days. If you love a home, don’t wait. And don’t low-ball—you’ll likely lose out.

3. Get a fully underwritten mortgage pre-approval.
This is a game-changer. A pre-underwritten approval is much stronger than a standard pre-approval. It makes your offer nearly as solid as cash in the eyes of the seller. We can connect you with trusted local lenders who can get you there fast.

4. Work with an expert.
We’ve helped hundreds of buyers over the years navigate competitive markets just like this one. If you want your offer to stand out in a sea of competition, We can help you craft smart strategies and negotiate from a position of strength.

What This Means for Home Sellers in 2025

If you’re a homeowner thinking about selling—this is your market. With low inventory and strong buyer demand, it’s a fantastic time to make your move.

But success depends on strategic pricing.

Don’t fall into the trap of overpricing just because you think bidding wars are a guarantee. Ironically, if you price too high, buyers may assume you expect multiple offers above that price—and they’ll stay away altogether. The key is to price attractively to spark interest, then let competition drive the price up naturally.

This is exactly where our experience comes in. We’ll help you:

• Analyze current market data to set a smart, competitive asking price
• Stage your home for maximum impact
• Market it aggressively online and off to generate multiple offers
• Manage negotiations to help you get the best possible terms and price

We’ve been doing this for nearly three decades. In fact, many of our recent listings have sold within days—some even in less than a week—with multiple offers over asking.

The Bottom Line

The first quarter of 2025 shows that the Massachusetts real estate market remains strong, competitive, and fast-moving. Franklin, MA continues to perform solidly, with sustained price growth and increasing buyer activity.

For buyers, preparation and guidance are key. For sellers, now is the time to act—but success requires thoughtful pricing and expert execution.

If you’re thinking about making a move in 2025—whether buying, selling, or both—we’d love to help you succeed.

I’m Warren Reynolds, Esq., a seasoned real estate attorney and broker with Berkshire Hathaway HomeServices in Franklin, MA. I bring nearly 30 years of local market experience, deep legal knowledge, and a hands-on, client-first approach to every transaction.

Call or text us today at (508) 561-6259 for a no-obligation consultation. Let’s talk about your goals, your timeline, and how we can position you for success in this exciting market.

Don’t wait. The opportunities in this market won’t last forever. Whether you’re buying, selling, or just exploring your options—let’s get started today!

The gain is all the more impressive given the sharp rise in mortgage interest rates that began in 2022. The current 30-year fixed-rate mortgage stands at an average of nearly 7%, more than double the 3% rate average last seen in January of 2022.

How Much Equity Did You Gain Video

Here’s a video on the recent run-up in home values in Massachusetts. The video reviews the life-changing amount of home equity Massachusetts homeowners now enjoy and how so many people want to sell their current home to buy a new residence that better meets their long-term needs.

The video concludes by noting that there are effective strategies to help you buy your next home despite today’s low listing inventories. Use the form below to set up a free, no-obligation consultation with real estate attorney and broker Warren Reynolds, Esq.

Long-term price history

Here’s a historical look at Franklin home prices going back to 2005. 2024 was the seventh year in a row the median single-family home sale price set a record high in Franklin.

The median home sale price in Franklin has risen 105% since 2013, when the Great Recession was ending.

Home sales volume plunges

You can see the devastating effect that rising mortgage rates have had on the pace of home sales in Franklin.

After recovering from the COVID pandemic in 2021, home sales collapsed in 2022 and kept trending lower in 2023 and 2024. You would think from the chart above that the Franklin real estate market was moribund. Instead, we have had record high prices for years now, despite the mortgage rate run up!

2024 Franklin home sales report

Click/tap on the hotlink in the image below to download a summary review of all the single-family homes in Franklin that sold during 2024.

Same story in the greater Massachusetts market

Looking at the broader Massachusetts real estate market in 2024, you’ll see that the statewide charts paint a picture very similar to that of the real estate market in Franklin:

Home sales volume across the Bay State started a precipitous fall in 2020. The decline continued through 2023, putting home sales where they were during the worst of the Great Recession. A rebound in 2024 was modest and leaves Massachusetts home sales volume in a figurative dumpster. However, the annual median home sale price in Massachusetts has risen 40% since 2020 and been hitting record highs for each of the last 8 years.

What this means for home sellers and buyers

The dichotomy between home prices and sales volume poses challenges to both home buyers and home sellers. For home sellers, today’s record high prices present a golden opportunity to profit from what looks to be a once-in-a-lifetime run up in asset values. Yet, with home sales at such a low level, there is often very little choice for homeowners seeking to trade-up or trade-out of their current residences and remain in Massachusetts. And for those seeking to buy their first home in Massachusetts, today’s prices are daunting.

The fact that MA home prices have withstood the doubling of mortgage rates should give confidence to buyers that there is a floor to home values in Massachusetts. A meaningful decline in home values appears unlikely, absent some black swan event. If you can afford to buy a home in today’s price and mortgage rate environment, by all means buy!

The life-changing profits within reach of so many long-term Massachusetts homeowners should provide ample incentive to make that long-delayed home sale happen. If the time is right for you to sell, there are solutions to the vexing “there’s nowhere to move” challenge.

For help and advice with your real estate needs

With home sales down and home prices up, prospective home buyers and sellers face a confused and difficult decision-making landscape in Massachusetts. Contact us for a free consultation on any aspect of buying or selling a home in the Bay State. We give clients clarity and confidence in their real estate transactions. Our clients enjoy 5-Star Results in the purchase or sale of their homes. Use the form below to request a no-obligation consultation with us, or call us at 508-561-6259 – contact us today!

The average annual sale price at the Spruce Pond Village Condos has risen 45% since 2020.

Longer-term view

The chart below shows how Spruce Pond’s average annual sale price has performed since 2004.

Since the 2012 low set during the Great Recession, Spruce Pond’s average sale price has more than doubled, jumping 113%!

Sales volume rises

Only three Spruce Pond units sold during the year, halving 2023’s sales volume.

2024 Spruce Pond Village sales report

Click/tap on the hotlink in the image below to download a review of all the units at Spruce Pond that sold during 2024.

For help and advice on Spruce Pond Village Condos

Contact us for help and advice on either buying or selling at the Spruce Pond Village Condominiums in Franklin, MA!

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The average sale price jumped 9.3% for the year. That puts the average unit sale price at Chestnut Ridge up 45% since 2020.

Long-term price history

Here’s a look at prices at Chestnut Ridge since 2004:

The average sale price of units at Chestnut Ridge has soared over 130% since the lows of 2010, when the economy was mired in the depths of the Great Recession.

Sales volume holds steady for 3rd year in a row

Five Chestnut Ridge units sold during 2024, in line with the sales totals of both 2023 and 2022.

The decline in sales volume at Chestnut Ridge in recent years reflects the low-sales-volume real estate market that has existed in Massachusetts for the last 5+ years.

Learn about Chestnut Ridge

You can access loads of exclusive content on the Chestnut Ridge Condos on our Chestnut Ridge landing page via the link at left or by tapping/clicking on the image below.

With our videos, photos and facts, you’ll get fully up to speed on this popular condo community in Franklin, MA!

You can see all the floor plans at the Chestnut Ridge Condos here, or by tapping/clicking on the image below:

2024 Chestnut Ridge sales report

Click/tap on the hotlink in the image below to download a review of all the units at Chestnut Ridge that sold during 2024.

In the report, you’ll see the details about each of the unit sales at Chestnut Ridge during 2024.

For help and advice on Chestnut Ridge Condos

Contact us for help and advice on either buying or selling at the Chestnut Ridge Condominiums in Franklin, MA.

We’ve been selling Chestnut Ridge for over 20 years. So we certainly can help you achieve your real estate goals – contact us today!

2024’s average sale price is a staggering 140% higher than it was back in 2012.

Sales pace slowed in 2024

11 Franklin Crossing units changed hands during the year, according to MLS-PIN.

That follows a transaction surge during the previous three years. Strong sales volume since 2020 coupled with the 29% increase in selling prices during those years shows the value and utility Franklin Crossing offers to home buyers: Franklin Crossing provides affordable housing in a superior location in Franklin, MA!

We know Franklin Crossing

We are proud to announce that we are the top listing agent at Franklin Crossing for 2024! This marks the third straight year that we have listed and sold more homes at Franklin Crossing than any other agent.

If you’re thinking of selling your unit at Franklin Crossing, call/text us at 508-561-6259 for a free, no-obligation consultation. We’ll show you how we’ll help you achieve the most in your condo sale while you enjoy a 5-Star home-selling experience. Contact us today!

2024 Franklin Crossing sales report

Click/tap on the hotlink in the image below to download a review of all the units at Franklin Crossing that sold during 2024.

In the report, you’ll see photos and full details about all 11 of the units that sold at Franklin Crossing in 2024.

For help and advice on Franklin Crossing Condos

Contact us for help and advice on any aspect of buying or selling at the Franklin Crossing Condominiums in Franklin, MA!

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2024 saw the average sale price at Stone Ridge jump 5.3% to $450,714. The average sale price at Stone Ridge is now up 37% since 2020!

Long-term view

The chart below shows the annual average sale prices at Stone Ridge going back to 2004.

The chart about clearly shows how the Great Recession pared about 30% off Stone Ridge’s sale prices by 2011. It’s been quite a run since then – unit values have more than doubled from the 2011 market bottom!

Learn about Stone Ridge

Interested in learning about the Stone Ridge Condos in Franklin, MA? We’ve got you covered! Check out all the exclusive content we have on our Stone Ridge landing page. Use the link at left or tap/click on the image below.

Sales pace accelerates

7 Stone Ridge units changed hands during 2024, as reported by MLS-PIN. It was the highest number of sales since 11 units sold in 2021.

2024 Stone Ridge sales report

Click/tap on the hotlink in the image below to download a review of all the units at Stone Ridge that sold during 2024.

In the report, you’ll see all seven of the units that changed hands in 2024. It was a great market for home sellers at Stone Ridge!

For help and advice on Stone Ridge Condos

With the Massachusetts real estate market remaining active, the 2025 spring home selling season looks primed to get an early start. Contact us for help with either buying or selling at the Stone Ridge Condominiums in Franklin, MA!

(Note that, in this report, one 2024 sale at Stone Ridge has been excluded. The interior of Unit 88 was heavily damaged by water. The unit was marketed vacant and was lender-owned. The low selling price of $275,000 does not accurately depict 2024 market values at Stone Ridge and thus the transfer was not reflected in this report.)

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The average sale price of units at Highwood edged up 2.6% in 2024 to stand at $341,650.

Longer-term view

2024 was the 5th straight year of record prices at Highwood and the ninth straight year that the Highwood Condominiums enjoyed rising home values.

Since the price bottom in 2011, the average sale price at Highwood is up an impressive 132%!

Sales volume rises in 2024

6 units at Highwood changed hands during 2024, the first rise in sales volume since 2021.

The low sales totals of 2022 – 2024 do not signify weak demand for Highwood units. Rather, the low sales volume reflects the pervasive low-inventory housing market in Massachusetts. There has been a general lack of available homes throughout the Bay State for many years now.

2024 Highwood sales report

Click/tap on the hotlink in the image below to download a review of all the units at the Highwood Condominiums that sold during 2024.

In the report, you’ll see photos and details about all the units that sold at Highwood in 2024.

For help and advice on Highwood Condos

Contact us for help and advice on either buying or selling at the Highwood Condominiums in Franklin, MA! We’ve been selling Highwoood since 1998, so we have the knowledge and experience to assure that you have a 5-Star real estate experience!

Increased listings bring opportunities for buyers

The supply of available listings has seen a modest uptick this year. The total number of homes listed in Massachusetts rose by 10% in 2024 compared to the first half of 2023. Similarly, in Franklin, there has been a 12% increase in the number of homes listed for sale so far this year.

This increase in supply is welcome news for buyers, providing more options in a market that has been characterized by low inventory. However, it’s important to note that homes are still selling quickly. As listing agents, we’ve observed that many buyers continue to waive home inspections, making it crucial for buyers to be vigilant during home tours. Pay attention to any visible structural or condition issues, and ask your agent to help you identify potential problems before making an offer. Avoid the risk of discovering significant issues after moving in by being thorough upfront.

Strong price performance across Massachusetts

The Massachusetts real estate market enjoyed robust price performance during the first half of 2024. The median sale price of single-family homes throughout the state jumped over 9%, continuing a trend of increasing home values that began in 2020. Since then, the median sale price of single-family homes in the Bay State has surged by an impressive 48%.

This significant appreciation highlights the unpredictable nature of real estate markets. No expert foresaw such a dramatic rise in MA home values at the onset of the COVID-19 pandemic. This surge underscores the importance of staying flexible and well-informed when navigating the real estate landscape.

Franklin MA real estate market: a closer look

In the Franklin MA real estate market, the numbers are even more striking. The median sale price of a single-family home in Franklin soared by over 17% during the first half of 2024 compared to the same period in 2023. This brings the total increase in Franklin’s median sale price to an astounding 57% since 2020.

For homeowners in Franklin, this is excellent news. With home values at such high levels, now is an opportune time to consider selling. The significant equity gains provide a solid financial foundation for your next move, whether you’re upgrading, downsizing, or relocating.

Sales volume and days to offer: key metrics

When it comes to sales volume, the first half of 2024 mirrored the low sales totals of the first half of 2023. Sales of single-family homes in Massachusetts remain well below the levels of previous years. This trend is also evident in Franklin, where the 2024 sales volume was just slightly above that of the first half of 2023 but significantly below the sales pace of the previous two years.

One critical metric to consider is the “days to offer” for listings, which indicates how quickly homes receive offers. In Massachusetts, the average days to offer for all homes in the first half of 2024 was 24 days, down from 27 days in 2023. In Franklin, the days to offer has similarly decreased compared to the first half of 2023, reflecting a still-competitive market where well-priced homes attract quick offers.

Key takeaways for buyers and sellers

For homeowners, the ongoing spike in home values means you likely have more equity in your home than you might realize. 2024 is an excellent time to sell a home in Massachusetts. I offer an updated home value report, a comprehensive marketing plan, and a free consultation to help you navigate your best options in today’s strong housing market. Contact me to capitalize on the current market conditions.

Prospective home buyers should take heart from the increased number of homes entering the market. Homeownership remains a critical investment for future financial security. There are compelling reasons to buy a home now, and I’m here to help you through every step of the process. From mitigating risks during the purchase process to helping you spot potential issues and crafting a strong offer, my goal is to materially improve your home buying experience and help you secure the right home for you.

I’m Warren Reynolds with Berkshire Hathaway HomeServices Commonwealth. Message me or call me at (508) 561-6259 for Five-Star home buying and selling results.

Winning strategies in 2024

Our video summarizes what’s critical to know in 2024 for those navigating the Massachusetts real estate market.

The 2023 real estate market at a glance

The median sale price for single-family homes in Franklin rose to $680,000in in 2023, a 7% increase from the previous year. The statewide median settled at $600,000 for the year, marking a 4.3% rise. Rising home prices, underpinned by a starkly low housing inventory, look set to continue in 2024.

As the above market summaries show, single-family home sales volume fell in Franklin and in all of the Bay State in 2023. This was due to severely restricted inventories of homes for sale, not due to any slackening of demand. On average, listings sold above asking price throughout the year.

Home prices soar while home sales volume tanks .

Since the onset of the COVID pandemic in 2020, Franklin has experienced a 34% increase in median single-family home sale prices, while Massachusetts witnessed a 30% rise.

The sharply upward trend in prices starkly contrasts with the collapse in home sales volume, which likewise started in 2020 and continued through 2023.

On the face of it, having home prices rise sharply while the number of homes sold plummets seems counterintuitive. Declining home sales typically happens when demand for homes weakens. Not the case in Massachusetts: buyers have remained avid for listings continuously since 2020!

Supply of homes for sale keeps dwindling

Look at the number of single-family homes for sale each January 15, looking back to 2019:

From 29 single-family homes for sale in Franklin on January 15, 2019 there were only two homes available in Franklin on January 15 of 2024. It’s a similar story for Massachusetts as a whole. From nearly 8,900 homes available in the Bay State in mid-January of 2019, this January 15th there were only approximately 2,900 homes for sale on MLS-PIN.

It’s the inadequate number of Massachusetts homes for sale that has both driven home prices so much higher since 2020 and which has caused home sales volume to tumble in MA during the same time period.

The 2024 Outlook for Real Estate

The Franklin and Massachusetts real estate markets are likely to continue experiencing low supply and high prices in 2024. But what does this mean for you, whether you’re buying or selling a home?

For First-Time Home Buyers: In this market, the safest bet is to purchase a home that meets your needs for the foreseeable future, ideally for the next 5-7 years.

With mortgage rates starting to slip in 2024, it’s a good time to buy, keeping in mind the possibility of refinancing if rates drop further. Be strategic: look for homes that haven’t sold quickly and may be open to lower offers.

For Current Homeowners: Many of you are looking to sell, either to upgrade or downsize. The key in 2024 is to break the cycle of hesitation that’s stifling the market.

List your property with the condition of finding your next home. This approach not only makes you a more attractive buyer but also contributes to opening up the market by increasing inventory.

For Prospective Home Sellers: Homes that struggled to sell in 2023 often lacked updates. Before listing, invest in freshening up your property.

Work with a knowledgeable agent who can guide you in pricing and marketing your home effectively. Remember, an overpriced home is less likely to sell in this discerning market.

Here’s to making informed choices and successful moves in the Massachusetts real estate market in 2024. Contact me, Warren Reynolds, at 508-561-6259 for personalized assistance and guidance!

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Since 2019, despite the ensuing COVID pandemic in 2020 and massive rise of mortgage rates in 2023, the average sale price of condos at Chestnut Ridge has jumped nearly 50% – amazing!

Long-term price history

Here’s how prices at Chestnut Ridge have performed since 2004:

From a low of $278,333 set in 2010 during the Great Recession, the average sale price of units at Chestnut Ridge has more than doubled, rising 112% to $588,720.

Sales volume holds steady at a restrained level

Five Chestnut Ridge units sold during 2023, in line with 2022’s sales total.

Back in the 2010s, it was routine for eight to eleven townhouses to change hands at Chestnut Ridge in any one year. The decline in sales volume is representative of the low-inventory real estate market prevalent in Massachusetts during the last several years.

Learn about Chestnut Ridge

You can access loads of exclusive content on the Chestnut Ridge Condos on our Chestnut Ridge landing page via the link at left or by tapping/clicking on the image below.

With our videos, photos and facts, you’ll get fully up to speed on this popular condo community in Franklin, MA!

Highest sale prices at Chestnut Ridge for 2023

Below are the three top sales at Chestnut Ridge recorded during 2023.

Each of these units had first-floor primary bedroom suites. This greatly boosted buyer interest in these units. Each of these three units drew multiple offers and bidding wars. Each unit sold for over asking price.

It is notable how relatively low the sale price of 3 Aspen Way is ($586,601) compared to the prices paid for 13 Magnolia Drive ($675,000) and 3 Beechwood Lane ($679,000). 3 Aspen was marketed in early March and the transaction closed in May, 2023, while the Magnolia and Beechwood units were marketed and sold later in the year. Home prices rose sharply at Chestnut Ridge as 2023 progressed, especially for units offering first-floor living!

You can see all the floor plans at the Chestnut Ridge Condos here, or by tapping/clicking on the image below:

2023 Chestnut Ridge sales report

Click/tap on the hotlink in the image below to download a review of all the units at Chestnut Ridge that sold during 2023.

In the report, you’ll see that details about each of the unit sales at Chestnut Ridge during 2023.

For help and advice on Chestnut Ridge Condos

Contact us for help on advice on either buying or selling at the Chestnut Ridge Condominiums in Franklin, MA.

We’ve been selling Chestnut Ridge for over 20 years. So we certainly can help you achieve your real estate goals – contact us today!