Massachusetts single-family home sales hit a 13-year low in September due to constrained inventory, record-high prices and rising interest rates, according to a new Warren Group report. 

September single-family home sales fell 26.5% from last year to 3,608, marking the lowest sales for the month since 2010. Meanwhile, the median single-family sale price increased 2.7% to $565,000, a new high for the month. 

“There are still a number of hurdles for prospective homebuyers in Massachusetts, and this is reflected in our sales data,” said Cassidy Norton, associate publisher and media relations director of the Warren Group. “Low inventory, record high prices and rising interest rates have made it progressively more difficult for buyers to purchase homes – regardless of where they’re looking.” 

Since January, 30,665 homes have sold, down 24.6% from the first nine months of 2022. During the same period, the median single-family home price rose 2.7% to $570,000.

Condo prices and sales followed similar trends last month.  

Condo sales fell 12.5% to 1,668 transactions, compared to 1,907 last September. Meanwhile, the median sale price increased by 8.7% to $500,000, marking a new high for September.

“Condos offer a blend of community and convenience, making them a compelling choice for those who want the benefits of amenities and a maintenance-free lifestyle,” Norton said. “However, with median prices following trends similar to single-family homes, the affordability of condos is becoming untenable to many buyers who desire the perks of owning a condo.”

So far this year, 14,799 condos sold across the state, down 20.7% from 2022, with a median sale price that’s up 4.5% to $517,500.