The sale of single-family homes and condominiums saw year-over-year gains in October, driven by a rise in buyer activity across the state, according to the Massachusetts Association of Realtors (MAR) October market report.   

Last month, single-family home sales grew 10.8% from last year and condominiums rose 2.9%. 

Meanwhile, the median sale price for single-family homes increased by 3.5% from September to $646,800, while condominiums rose 2.9% to $535,000 from September to October. 

Closed sales were also up, as single-family home closed sales rose 10.4% in October while condos increased 9.2%. 

Listings, however, fell following September’s increase. In October new single-family home listings fell 15.6% while condominiums fell 8.1%. 

The report also noted that with median sale prices rising and inventory falling, sellers are in a strong position to enter the competitive market.

“The increase we witnessed in closed sales in October is a promising indication of renewed buyer activity across Massachusetts,” said Amy Wallick, 2024 president of MAR and sales agent at Lamacchia Realty. “As we approach the last months of 2024, we encourage buyers to remain active in their search and, with limited new listings and strong buyer demand, sellers are well-positioned in this competitive market.”