MELROSE — The 59 single-family homes that have sold in the city through the first five months of 2024 have fetched a median price of $856,000, according to the latest report from The Warren Group, a leading provider of real estate and transaction data.

The median sales price of a single-family home through May was much higher in Melrose than it was at the same point last year, which was $799,000. That median price was for 60 single-families sold in the first five months of 2023.

In May of this year alone, the city saw 18 single-families sold for a median price of $836,500. In May 2023, 16 single-families were sold for a median price of $851,250.

Across the state, single-family home and condo sales increased 7.5 percent and 4.3 percent, respectively, in May as median prices reached new highs, according to The Warren Group report.

Single-family homes 

Last month, there were 3,887 single-family home sales in Massachusetts, a 7.5 percent increase from May 2023. Meanwhile, the median single-family sale price increased 7.9 percent on a year-over-year basis to $636,000, up from $589,450 in May 2023 – a new all-time high. 

“Massachusetts single-family home sales surged by 7.5 percent year over year in May, marking the second consecutive month of increases,” said Cassidy Norton, Associate Publisher and Media Relations Director of The Warren Group. “Remarkably, during the same period, the median sale price climbed almost 8 percent to reach an all-time high of $636,000. Typically, increased sales would temper price growth, but the pent-up demand from homebuyers is redefining market dynamics.”

Year-to-date, there have been 14,005 single-family home sales in Massachusetts, a 2.1 percent increase from the first five months of 2023. Meanwhile, the year-to-date median single-family home price increased 9.3 percent on the same basis to $590,000.

Condominiums

There were 1,922 condominium sales in May 2024, compared to 1,843 in May 2023 – a 4.3 percent increase. Meanwhile, the median sale price rose 4.6 percent on a year-over-year basis to $550,000 – a new all-time high for the month of May.

“Massachusetts condominium sales activity saw a robust uptick in May, with 1,922 units sold in May 2024 compared to 1,843 in May 2023, marking a 4.3 percent increase,” Norton added. “The market’s strength is further evidenced by the median sale price rising 4.6 percent year-over-year to $550,000, setting a new all-time high for the month of May.”

Year-to-date, there have been 7,016 condo sales, a 0.5 percent decrease from the first five months of 2023 with a median sale price of $530,000, a 6.0 percent increase on the same basis.

There were nine condos sold in Melrose last month, bringing a median price of $430,000. In May 2023, 11 condos sold here for a median price of $439,900.

Through the first five months of 2024, 19 condos sold in the city for a median price of $549,000, compared to 36 condos sold through May of last year for a median price of $444,075.

Greater Boston single-family homes 

There were 1,929 single-family home sales in the Greater Boston housing market in May 2024, which marked a 7.3 percent increase from May 2023 when there were 1,798 transactions. Meanwhile, the median single-family sale price increased 6.7 percent on a year-over-year basis to $800,000.

Greater Boston condominiums 

In May, there were 1,423 condo sales, up from 1,362 sales in May 2023, marking a 4.5 percent increase on a year-over-year basis. Meanwhile, the median condo price rose 3.3 percent on the same basis to $635,000, up from $615,000 a year earlier.