It’s not just the weather hitting record highs this week — Massachusetts home sale prices and listings are also rising as the summer market gets underway.

From April to May, the state experienced significant increases, with closed sales surging 26.3% and new single-family home listings rising 25.2%, according to the Massachusetts Association of Realtors (MAR) May market report.

Single-family home sales in May increased both month over month and year over year, along with housing inventory. Median sales prices also continue to climb, neutralizing the excitement for prospective buyers and agents, according to the report.

All these factors impact housing affordability, which declined for another month in May, marking a new low for the year. 

“Though we’re encouraged by the increases in inventory and sales observed for single-family homes in May, housing costs continue to be a barrier for prospective buyers across the Commonwealth,” said Amy Wallick, 2024 MAR president and sales agent at Lamacchia Realty. “Given these favorable current conditions, we’re hopeful that more sellers will enter the market and help alleviate the ongoing inventory issues we’ve been dealing with for decades to increase opportunities for buyers to find a home.”

Last month, the median sale price for a single-family home in Massachusetts increased by 7.3% from May 2023 to $660,000, while new, single-family home listings grew 17.5%.

May was also a strong month for the condo market, where the median sale price rose 4.4% to $569,000, and new listings grew 5.8% from last year.

Closed sales also increased from last year, up 6.9% for single-family homes but down 0.5% for condominiums.