The COVID-19 pandemic has impacted the Massachusetts real estate market mainly by causing a shortage of homes for sale. Many homeowners did not want to list their homes in 2020.
Because supply was very low and demand was very high, prices increased substantially over previous years.
For example, as of the end of September 2020, Massachusetts had just 1.4 months of for-sale inventory - that's a decline of 58% from 2019.
By the 3rd quarter of 2020 the Median Home Value in Massachusetts was $446,665.
Home values by percentage:
| Home Price | Percentage |
| >$1,217,550 | 5.1% |
| $913,194 - $1,217,550 | 5.6% |
| $608,838 - $913,193 | 16.5% |
| $487,045 - $608,837 | 13.9% |
| $365,243 - $487,044 | 20.3% |
| $243,522 - $365,242 | 21.3% |
| $121,794 - $243,521 | 13.4% |
| 60,935 - $121,793 | 1.9% |
| $0 - $60,934 | 2.1% |
According o the Massachusetts Association of REALTORS®, by November 2020, sales of single-family homes increased 15.7% and sales of condominium increased 12.3% compared to 2019.
Looking To Purchase a Home In Massachusetts' Bristol County?
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