--- title: Home Buyers Struggle With Inventory, Prices, and Interest Rates description: Home buyers bought the fewest Massachusetts single-family homes in any September in 13 years due to low inventory, high prices, and rising interest rates. image: https://info.buyersbrokersonly.com/hubfs/social-suggested-images/victorian_style_home_blue.jpg --- (978) 835-5906             [![Search Icon](https://info.buyersbrokersonly.com/hs-fs/hubfs/Search%20Icon.png?width=30&height=30&name=Search%20Icon.png)](https://info.buyersbrokersonly.com/search-results-page) [![Buyers Brokers Only, LLC – Real Estate Buyer Agents](https://info.buyersbrokersonly.com/hs-fs/hubfs/2023%20BBO%20Logo%20800x170.png?width=1600&height=340&name=2023%20BBO%20Logo%20800x170.png "Buyers Brokers Only, LLC – Real Estate Buyer Agents")](https://www.buyersbrokersonly.com/) # Massachusetts Home Buyer Guide ![smaller-dotted-line.png](https://cdn2.hubspot.net/hub/298849/file-263826832-jpg/true_gray_line_websites.jpg?width=1175&name=true_gray_line_websites.jpg "smaller-dotted-line.png") ## [Home Buyers Struggle With Inventory, Prices, and Interest Rates](https://info.buyersbrokersonly.com/blog/home-buyers-struggle-with-inventory-prices-and-interest-rates) Oct 30, 2023 8:35:40 PM Home buyers bought the fewest single-family homes in Massachusetts in any September in 13 years due to low inventory, record high prices, and rising interest rates, The Warren Group reported on October 18, 2023. [![Massachusetts Victorian-style home](https://info.buyersbrokersonly.com/hs-fs/hubfs/social-suggested-images/victorian_style_home_blue.jpg?width=400&height=268&name=victorian_style_home_blue.jpg)](https://info.buyersbrokersonly.com/personal-home-buyer-consultation)Single-family home sales plunged 27 percent in September 2023 to 3,608 statewide compared to 4,908 in September 2022. Through the first three quarters of 2023, single-family home sales have fallen by more than 10,000 houses or 25 percent. The median price of a single-family home rose 3 percent in September to $565,000, a record high for September. Massachusetts condominium sales fell 13 percent in September to 1,668 compared to 1,907 in September 2022, according to The Warren Group, a provider of real estate data. Through September, condo sales have dropped 21 percent to 14,799 from 18,656 during the same nine months last year. The median condo price increased 9 percent in September to $500,000, a record high for September.   ### Greater Boston Sees Fewer Sales, Higher Prices   Greater Boston – defined by The Warren Group as the **139 cities and towns** within Interstate 495 – saw [single-family sales](https://info.buyersbrokersonly.com/home-listings) fall by a more significant percentage in September, 30 percent. House sales fell 26 percent through September. The median house price in Greater Boston increase to $705,000 in September, up by 3 percent compared to $682,500 in September 2022. [Condominium](https://info.buyersbrokersonly.com/12-condo-questions) sales decreased 10 percent in Greater Boston in September and have fallen 20 percent through the first nine months of 2023. The median condo price in Greater Boston rose 7 percent in September to $579,500 compared to $542,500 in September 2022.    ### Limited Inventory Stifles Sales   The number of single-family homes for sale in Greater Boston, according to the Greater Boston Association of Realtors (GBAR), fell 21 percent to 1,439 in September from 1,812 in September 2022. The GBAR defines Greater Boston as the **64 cities and towns** roughly inside and slightly outside Interstate 95. [Home buyers](https://info.buyersbrokersonly.com/personal-home-buyer-consultation) had fewer condominiums to choose from in September as well. Available condo units declined 14 percent to 1,873 compared to 2,178 in September 2022.   ### Interest Rates Rise 2 Percent in a Year   The average interest rate for the [30-year, fixed-rate mortgage loan](https://info.buyersbrokersonly.com/loan) in the United States stood at 7.88 percent at the close of business on Friday, October 27, 2023, according to the Mortgage New Daily Rate Index.  Over the last year, the index has reported rates ranging from 5.99 percent (February 2, 2023) to 8.03 percent (October 19, 2023) for the 30-year note.  [![Register Now For an Online First-time Homebuyer Class](https://no-cache.hubspot.com/cta/default/213639/27599116-4ce2-46d1-93e9-df6171f48a9a.png)](https://cta-redirect.hubspot.com/cta/redirect/213639/27599116-4ce2-46d1-93e9-df6171f48a9a) Topics: [Real Estate Market](https://info.buyersbrokersonly.com/blog/topic/real-estate-market), [Massachusetts Home Prices](https://info.buyersbrokersonly.com/blog/topic/massachusetts-home-prices), [The Warren Group](https://info.buyersbrokersonly.com/blog/topic/the-warren-group), [Greater Boston Association of Realtors](https://info.buyersbrokersonly.com/blog/topic/greater-boston-association-of-realtors), [Mortgage News Daily](https://info.buyersbrokersonly.com/blog/topic/mortgage-news-daily) [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Finfo.buyersbrokersonly.com%2Fblog%2Fhome-buyers-struggle-with-inventory-prices-and-interest-rates%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Finfo.buyersbrokersonly.com%2Fblog%2Fhome-buyers-struggle-with-inventory-prices-and-interest-rates%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://static.hubspot.com/final/img/common/icons/social/twitter-24x24.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Finfo.buyersbrokersonly.com%2Fblog%2Fhome-buyers-struggle-with-inventory-prices-and-interest-rates%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Finfo.buyersbrokersonly.com%2Fblog%2Fhome-buyers-struggle-with-inventory-prices-and-interest-rates%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Home%20Buyers%20Struggle%20With%20Inventory%2C%20Prices%2C%20and%20Interest%20Rates) [![Share on Email](https://static.hubspot.com/final/img/common/icons/social/email-24x24.png)](mailto:?subject=Check%20out%20https%3A%2F%2Finfo.buyersbrokersonly.com%2Fblog%2Fhome-buyers-struggle-with-inventory-prices-and-interest-rates%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Finfo.buyersbrokersonly.com%2Fblog%2Fhome-buyers-struggle-with-inventory-prices-and-interest-rates%3Futm_medium%3Dsocial%26utm_source%3Demail) ### [Blog Home](https://info.buyersbrokersonly.com/blog) ### Subscribe to this Blog ### Learn the Steps to Buying a Home in Massachusetts ### [![The Steps to Buying a Home](https://no-cache.hubspot.com/cta/default/213639/25735662-3637-4a46-8885-47ad1de2687d.png)](https://cta-redirect.hubspot.com/cta/redirect/213639/25735662-3637-4a46-8885-47ad1de2687d) ### Search Homes For Sale [![Search the latest home listings. Sign up for property alerts. ](https://no-cache.hubspot.com/cta/default/213639/4dbb4a3b-98e1-4dc2-9535-a0b7593b45c5.png)](https://cta-redirect.hubspot.com/cta/redirect/213639/4dbb4a3b-98e1-4dc2-9535-a0b7593b45c5) ### Are You Ready to Learn Some Home-buying Tips?  [![Schedule ](https://no-cache.hubspot.com/cta/default/213639/b9db055d-da2a-4719-ba31-1d5f31299e60.png)](https://cta-redirect.hubspot.com/cta/redirect/213639/b9db055d-da2a-4719-ba31-1d5f31299e60) ### Learn About Buyer Agents ### Favorite Topics • [Community Information](https://info.buyersbrokersonly.com/blog/topic/community-information) • [Home-buying Tips](https://info.buyersbrokersonly.com/blog/topic/home-buying-tips) • [Massachusetts Relocation](https://info.buyersbrokersonly.com/blog/topic/massachusetts-relocation) • [Mortgage Tips & News](https://info.buyersbrokersonly.com/blog/topic/mortgage-rates-news) • [Real Estate Market](https://info.buyersbrokersonly.com/blog/topic/real-estate-market) • [Video](https://info.buyersbrokersonly.com/blog/topic/video) ### Most Popular Posts ### **Home Buyer Resources** [Massachusetts Home Buyer Guide](https://info.buyersbrokersonly.com/guide-to-the-home-buying-process-massachusetts) [New Hampshire Home Buyer Guide](https://info.buyersbrokersonly.com/guide-to-the-home-buying-process-in-new-hampshire) [Rhode Island Home Buyer Guide](https://www.buyersbrokersonly.com/buying/how-to-buy-a-home-in-rhode-island) [Wants v. Needs Worksheet](https://info.buyersbrokersonly.com/wants-needs-worksheet) [Home Buyer House Scoring Tool](https://info.buyersbrokersonly.com/homebuyer-house-scoring-tool) [103 Home Buyer Terms Download](https://info.buyersbrokersonly.com/home-buying-terms-for-the-home-buyer) [Greater Boston Home Buyer Blog](https://info.buyersbrokersonly.com/blog) ### **Company** [Home ](https://www.buyersbrokersonly.com/) [About](https://www.buyersbrokersonly.com/about) [Terms of Service](https://www.buyersbrokersonly.com/services) [Privacy Policy](https://www.buyersbrokersonly.com/privacy-policy) [Disclaimer](https://www.buyersbrokersonly.com/disclaimer) [Press Room](https://info.buyersbrokersonly.com/press-room) [Careers](https://www.buyersbrokersonly.com/careers) [Coverage Area](https://www.buyersbrokersonly.com/coverage) [Site Map](https://www.buyersbrokersonly.com/site_map) ### **Contact Us** [Schedule a Consultation](https://info.buyersbrokersonly.com/personal-home-buyer-consultation) Call / Text (978) 835-5906 [info@buyersbrokersonly.com](mailto:info@buyersbrokersonly.com) [Contact Form](https://www.buyersbrokersonly.com/contact) [Our Agents](https://www.buyersbrokersonly.com/brokers) [Reviews](https://www.buyersbrokersonly.com/testimonials) [![Fair Housing Matters to Buyers Brokers Only, LLC](https://info.buyersbrokersonly.com/hs-fs/hubfs/equal-housing-opportunity-logo-1200w.png?width=100&height=107&name=equal-housing-opportunity-logo-1200w.png)](https://naeba.org/naeba-celebrates-fair-housing-month-promotes-homebuyer-protection/)   ### **Popular Searches**  [Acton, MA Homes](https://www.buyersbrokersonly.com/acton-ma-homes-for-sale) [Andover, MA Homes](https://www.buyersbrokersonly.com/andover-ma-homes-for-sale) [Arlington, MA Homes](https://www.buyersbrokersonly.com/arlington-ma-homes-for-sale) [Belmont, MA Homes](https://www.buyersbrokersonly.com/belmont-ma-homes-for-sale) [Burlington, MA Homes](https://www.buyersbrokersonly.com/burlington-ma-homes-for-sale) [Haverhill, MA Homes](https://www.buyersbrokersonly.com/haverhill-ma-homes-for-sale) [Lexington, MA Homes](https://www.buyersbrokersonly.com/lexington-ma-homes-for-sale) [Lynnfield, MA Homes](https://www.buyersbrokersonly.com/lynnfield-ma-homes-for-sale) [Melrose, MA Homes](https://www.buyersbrokersonly.com/melrose-ma-homes-for-sale) [Needham, MA Homes](https://www.buyersbrokersonly.com/needham-ma-homes-for-sale) [North Andover, MA Homes](https://www.buyersbrokersonly.com/north-andover-ma-homes-for-sale) [Salem, NH Homes](https://www.buyersbrokersonly.com/salem-nh-homes-for-sale) [Somerville, MA Homes](https://www.buyersbrokersonly.com/somerville-ma-homes-for-sale) [Walpole, MA Homes](https://www.buyersbrokersonly.com/walpole-ma-homes-for-sale) [Westwood, MA Homes](https://www.buyersbrokersonly.com/westwood-ma-homes-for-sale) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Rich Rosa", "url" : "https://info.buyersbrokersonly.com/blog/author/rich-rosa" }, "dateModified" : "2023-11-09T20:07:21.417Z", "datePublished" : "2023-10-31T00:35:40.000Z", "headline" : "Home Buyers Struggle With Inventory, Prices, and Interest Rates", "image" : [ "https://info.buyersbrokersonly.com/hubfs/social-suggested-images/victorian_style_home_blue.jpg" ], "mainEntityOfPage" : { "@id" : "https://info.buyersbrokersonly.com/blog/home-buyers-struggle-with-inventory-prices-and-interest-rates", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://info.buyersbrokersonly.com/hubfs/2023%20BBO%20Logo%20800x170.png" }, "name" : "Buyers Brokers Only, LLC" } } ``` ```json { "@context" : "https://schema.org", "@type" : "BreadcrumbList", "about" : [ { "@type" : "Thing", "name" : "Boston Real Estate" }, { "@type" : "Thing", "name" : "Home Buying Tips" } ], "description" : "Massachusetts Home Buyer Guide provides first-time homebuyers and those experienced in purchasing real estate with tips, advice, and news.", "image" : { "@type" : "ImageObject", "url" : "https://info.buyersbrokersonly.com/image.jpg" }, "inLanguage" : "en-us", "isPartOf" : { "@type" : "WebSite", "name" : "Buyers Brokers Only", "url" : "https://info.buyersbrokersonly.com" }, "itemListElement" : [ { "@type" : "ListItem", "item" : "https://info.buyersbrokersonly.com", "name" : "Home", "position" : 1 }, { "@type" : "ListItem", "item" : "https://info.buyersbrokersonly.com/blog", "name" : "Blog", "position" : 2 } ], "keywords" : [ "Massachusetts Home Buyer Guide", "time Homebuyer Tips", "Advice MA" ], "mainEntityOfPage" : "https://info.buyersbrokersonly.com/blog", "mentions" : [ { "@type" : "Thing", "name" : "Massachusetts Housing" }, { "@type" : "Thing", "name" : "Real Estate Market" } ], "url" : "https://info.buyersbrokersonly.com/blog" } ```