Massachusetts single-family home and condo prices reached new highs again last month as sales also increased year over year, according to the Warren Group’s August 2024 Sales Report.

Massachusetts’ August single-family home sales were up 2.2% from last year, as the median price reached $630,000, setting a new record for the month.

Cassidy Norton, associate publisher and media relations director of the Warren Group, said Massachusetts single-family home sales in August were marked by continued price growth compared to last year. 

“It’s also the fifth month in a row that the median price has stayed above $600,000, showing just how resilient the market has been,” Norton said. 

Since January, 27,376 homes have sold, marking a 1.1% increase from the first eight months of 2023. During the same period, the median single-family home price rose 8.8% to $620,000.

In the condo market, while sales fell, prices also hit a new record. 

Condo sales fell 3.6% to 1,804 transactions, compared to 1,871 in August 2023. Meanwhile, the median sale price increased 3.4% to $542,635, marking a new all-time high for the month. 

“August was another strong month for the Massachusetts condo sector,” Norton said. “Despite the challenges we’ve seen with inventory, the demand for homes continues to push prices upward. In fact, the median price for condos also reached an all-time high for August, climbing to $542,635. 

“This is a clear indicator of how resilient the market is, especially in the condo space, where buyers are still eager to find opportunities even in a competitive environment.”

So far this year, 12,704 condos sold across the state, down 3.3% from 2023, with a median sale price that’s up 4.8% to $545,000.

The Greater Boston Market

The Warren Group’s August report also included activity in the Greater Boston housing market, which encompasses the 139 communities located within Route 495.

Greater Boston single-family home sales in August rose 1.2% from 2023 to 2,199. Meanwhile, the median single-family sale price increased 4.6% to $795,000.

Condo sales in Greater Boston fell last month, sliding 1.1% to 1,331 transactions. The median condo price, however, increased 1.7% from last year to $660,000.