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Study names the most expensive housing market in Massachusetts

by Brandie Malay Siavelis

While the country continues to see the effects of an improving economy and low unemployment rates, the recovery is less than ideal for those who want to purchase a home. Homebuyers are up against an increasingly expensive market, with the median home price around $300,000 — over $100,000 more than the median price 10 years ago.

The median home price in different areas of the country varies widely, and a recent study by 24/7 Wall St. analyzed median home values from 3,119 counties across the country according to 2017 second quarter data from the National Association of Realtors.

Nantucket County was Massachusetts’ most expensive housing market, where 47.1 percent of the homes are valued at more than $1 million. The median Nantucket County home price was $977,237, with a median mortgage payment of $3,949.

In Nantucket, the median household income was $89,428, compared to $75,297 for the state of Massachusetts.

Massachusetts maintains its status of having one of the most expensive housing markets in the country. The median price for a home in the state rose 5.7 percent — from $350,000 in March of 2017 to $369,950 to March of this year, according to the Massachusetts Association of Realtors.

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