LYNNFIELD — The number of single-family homes sold in town and the median sales price dropped slightly last month.

According to Thxe Warren Group, there were 12 single-family homes sold in Lynnfield during the month of August that had a median sales price of $942,500. The median sales price represented a 25 percent decrease over the $1,255,000 median sales price for the 14 single-family homes sold in August 2023.

There were 17 single-family homes sold in Lynnfield during the month of July that had a median sales price of $1 million. There were 17 single-family homes sold in Lynnfield during the month of June that had a median sales price of $1,099,000.

According to The Warren Group,  there have been 69 single-family homes sold in Lynnfield over the course of the first eight months of 2024 that have had a median sales price of $1 million. There were 62 single-family homes sold in town over the course of the first eight months of 2023 that had a median sales price of $1,051,000.

Massachusetts single-family home and condo sales both increased in August on a year-over-year basis as median prices continued to reach new highs.

Single-family homes

Last month, there were 4,499 single-family home sales in Massachusetts, a 2.2 percent increase from August 2023. Meanwhile, the median single-family sale price increased 5 percent on a year over-year basis to $630,000, up from $600,000 in August 2023 – a new high for the month of August.

“Massachusetts single-family home sales in August were marked by continued price growth, with the median price hitting $630,000 — a 5 percent increase compared to last year and a new record for August,” said Cassidy Norton, associate publisher and media relations director of The Warren Group. “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.”

Year-to-date, there have been 27,376 single-family home sales in Massachusetts, a 1.1 percent increase from the first eight months of 2023. Meanwhile, the year-to-date median single-family home price increased 8.8 percent on the same basis to $620,000.

Condominiums

According to The Warren Group, there were no condominiums sold in town during the month of August. There have been 13 condos sold in Lynnfield during the first seven months of 2024, which had a median sales price of $625,000.

There were 1,804 condominium sales statewide in August 2024, compared to 1,871 in August 2023 – a 3.6 percent increase. Meanwhile, the median sale price rose 3.4 percent on a year-over-year basis to $542,635 – a new all-time high for the month of August.

“August was another strong month for the Massachusetts condo sector,” said Norton. “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.”

Year-to-date, there have been 12,704 condo sales, a 3.3 percent decrease from the first eight months of 2023 with a median sale price of $545,000, a 4.8 percent increase on the same basis.

Greater Boston real estate

There were 2,199 single-family home sales in the Greater Boston housing market in August 2024, which marked a 1.2 percent increase from August 2023 when there were 2,172 transactions. Meanwhile, the median single-family sale price increased 4.6 percent on a year-over-year basis to $795,000.

In August, there were 1,331 condo sales in the Greater Boston housing market, up from 1,346 sales in August 2023, marking a 1.1 percent decrease on a year-over-year basis. Meanwhile, the median condo price increased 1.7 percent on the same basis to $620,000.