Note: When you work with one of our partners, we may earn a small commission. Learn more about our editorial policy and how we make money.
Is there a best time to buy a house in Massachusetts? It depends on your priorities and location.
In recent years, listing prices for homes in Massachusetts were lowest in January. On average, homes were $130,329 less expensive. While in September — the month with the highest prices — the listing prices were $140,605 more than the annual average.
Mortgage rates, on the other hand, were lowest in December. But with interest rates currently on the rise, it pays to explore your options with a trusted mortgage provider to make sure you get the best rate possible.
Read on to find out which time of year is the best time to buy a house in Massachusetts!
Best month for
13.3% lower than average
7.9% more homes to choose from
2.87% interest for 30-year mortgage
Realtor.com data (10/1/2020)
Bankrate data (12/1/2020)
If you're thinking about buying a home, start by connecting with a realtor who knows the local market. The real estate market in Massachusetts can change quickly, and a knowledgeable realtor will give you up-to-date information on when and where to buy.
A free service like Clever Real Estate can match you with top agents from trusted brands like RE/MAX and Keller Williams. Interview as many agents as you'd like until you find the perfect fit, or walk away at any time with no obligation. Add your zip code below to request hand-picked agent matches today!
The best time of year to buy in Massachusetts
March and April are peak home buying months in Massachusetts. During this time, more homes are on the market, so it’s easier to find a move-in ready home that fits your needs. But if you're more interested in finding a good deal, the winter is the best time to negotiate home prices.
That said, it's important to remember that price trends can vary from city to city. For example, the median home value in Springfield is much lower than the median home price in Massachusetts — but homes in Cambridge are far more expensive than the typical Massachusetts home.
The best way to find a home in your target market is to connect with a local realtor. They'll help you navigate the ins and outs of your market and decide the best time to buy a house in Massachusetts.
💰 Find a top buyer’s agent near me today!
The best places to buy a home in Massachusetts
The best place for you to buy a home will probably come down to your lifestyle. Whether you want a short commute, great schools, or a wide selection of homes, here are three great places to live in Massachusetts.
Just a short commute from Boston, Wilmington is a community that offers lower monthly costs than the city proper. With highly rated public schools and active sports and activities programs throughout the city, Wilmington is a smart choice for families.
Burlington is close to Boston, New Hampshire, and Rhode Island, making it an ideal location for partners who commute to different places. The city is a technology hub, with a strong Microsoft presence, and home to well-ranked schools.
Southwest of Boston, you’ll find Franklin, a smaller town with reasonable housing. Local employers concentrate on manufacturing and scientific research and development, so if you work in those fields, you may not have to commute.
Four ways to get a great deal on a home in Massachusetts
Choosing when and where to buy are just two parts of the home buying process. You’ll also want to do what you can to get a deal on your home. Here’s how:
1. Find a great real estate agent in Massachusetts
Once you're ready to start your home search, connect with a local real estate agent. A high-quality realtor will help you narrow your search to the best neighborhoods that meet your needs and budget. They can also offer advice on getting pre-approved for a mortgage and guide you through making an offer, negotiating the home price, and budgeting for closing costs.
2. Determine what you need and want in a house
Every home buyer has different needs. Your real estate agent will ask questions to assess what you’re looking for and help you prioritize. If you have specific financial goals, such as a target monthly mortgage payment, they’ll tell you what you can get for that price. After gathering information, your agent will search for homes that match your budget and other needs.
3. Find a lender and secure financing
Unless you plan to buy your home with cash, you'll need to apply for a mortgage. For most home buyers in Massachusetts, interest rate is one of the biggest factors when choosing a lender. Doing some upfront research and comparing options to find the best rate could save you tens of thousands of dollars over the life of your loan.
For example, in Massachusetts a typical house is worth $462,000. Assuming a 20% down payment, if you took out a 30-year mortgage for 3.5%, your monthly payment would be $1,648. But if you shopped around and found a 3% mortgage, your monthly payment would drop to about $1,558.
4. Negotiate for the best possible price
Once you find your future home, your agent will submit an offer on your behalf. They'll also negotiate with the seller to ensure you pay a fair price in the current market conditions.
If you're looking for a realtor, Clever can connect you with the top buyer's agents in your area for a free, no-obligation consultation.
Fill out our online form, and a Clever representative will reach out to get the process started and answer any questions.