New listings for single-family homes and condominiums increased for the first time in three months in September, according to the  Massachusetts Association of Realtors (MAR) September market report.   

Since August, single-family home listings rose 34.7% while condominium listings grew 68.5%.

Meanwhile, the median sale price for a single-family home fell for the third month in a row. Even though prices are dropping, the Bay State saw a decline in closed sales for the second month in a row.

Last month, the median sale price for a single-family home in Massachusetts fell 3.2% from August to $628,888, while condominium prices fell 6.7% to $520,000.

Closed sales were also down as single-family home closed sales fell 22% in September while condos fell 17.2%. 

But the report found buyers remain optimistic. 

“With the increase in new inventory and lower mortgage rates, we’re hopeful that more prospective buyers will enter the market in the fourth quarter,” said Amy Wallick, 2024 MAR president and sales agent at Lamacchia Realty. 

“As summer comes to a close and we head into the winter months, now is a great time to enter the market if you’ve been on the fence about selling, with buyers eager to settle into their new homes ahead of the holidays.”