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Boston home prices up 51% over the past decade

by Liz Hughes

If you bought a home between 2010 and 2019, it was well worth it, especially if it was purchased in the Boston area, a recent study found. 

Curious about how the housing market fared between the market crash of 2008 and the COVID pandemic, a recent PropertyShark study looked at residential real estate sales through the 2010s and found the 2019 national median resale price was 35% higher than it was a decade earlier. In 2019, homes sold at a median resale price of $275,000, up from $204,000 in 2009, according to the report. 

Boston and Washington, D.C., yielded the highest returns for East Coast homeowners, as large urban centers surpassed national price gains across all price ranges.

Boston tied with Seattle at No. 9 on the list of cities with the 10 highest median resale price gains in the country. The only East Coast city to make the top 10, Boston homeowners resold their homes at a 51% increase in 2019. 

The gains were uneven across price ranges, according to the report. Homes that sold between $250,000 and $500,000 did so after gaining 87% from their 2009 prices, making them the best-performing properties in terms of appreciation. Homes over $2 million resold with the highest price increase in actual dollars, going for a median $2.44 million in 2019 — an inflation-adjusted gain of $747,000.

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