As the summer market approaches, both closed sales and new listings increased in April, according to the latest report from the Massachusetts Association of Realtors.

In April, closed sales increased 16.4%, while new listings of single-family homes surged 39.8% from March. 

And while home supply also increased from March, it still can’t keep up with the demand, making it another tricky season for homebuyers to navigate. 

Amy Wallick, 2024 MAR president and Realtor at Lamacchia Realty, said while April showed signs of increased market activity, demand continues to outweigh supply for the Massachusetts Housing Market. 

“Housing costs continue to compound these market conditions, as evidenced by the housing affordability index reaching its lowest point thus far this year,” Wallick said. “The market continues to favor sellers, with median home prices still on the rise, and we’re hopeful that this, plus the summer season, will encourage more sellers to enter the market.”

Last month, the median sale price for a single-family home in Massachusetts increased by 8.5% from April 2023 to $635,000, while new, single-family home listings grew 22.3%.

April was also a great month for the condo market, where the median sale price rose 1.9% to $540,000 and new listings grew 18.4% from last year.

Closed sales also increased from last year, up 8% for single-family homes and up 11% for condominiums.