As state lawmakers put the finishing touches on legislation aimed at alleviating some of the state’s housing woes, home sales rose more than 8 percent in July, putting sales in 2024 just above last year’s sluggish pace.

The Warren Group on Tuesday reported 4,427 sales of single-family homes in Massachusetts last month, an 8.2 percent increase over sales in July 2023. The median sales price of $650,000 – a new record for the month of July – was 6.6 percent higher than the median price of $610,000 in July 2023. But Cassidy Norton, associate publisher of the Warren Group, found a small bright spot for prospective homebuyers.

“Yes, a median sales price of $650,000 was a new all-time high for the month of July, and month after month prices are hitting new records, but price increases are less than they could be,” she said. “Interest rates are more than double what they were two years ago, and I’m sure prices would be even higher without these changes. That’s creating a lack of inventory, which may have dampened price increases somewhat.”

That lack of supply, a long-standing problem that has made life in Massachusetts more expensive and difficult, “will remain the biggest price-driving factor for the foreseeable future,” Norton added.

For the first seven months of 2024, single-family home sales are just a hair higher than the same period in 2023, a year that ended with the lowest sales volume in 12 years. The 22,879 sales this year represent a 0.8 percent increase over the first seven months of 2023. The single-family home sales price is up 9.5 percent year-to-date, to $618,500.

The condo market saw a similar story in July. The month’s 1,947 condo sales were a 3.2 percent increase from the 1,886 sales last July. The median sales price rose 1.8 percent to $565,000 in July 2023, also a new record for July. Year-to-date, 10,901 condos have been sold – a 3.2 percent decrease compared to the first seven months of 2023, while the median sales price of $545,000 has increased 4.8 percent over the same period.

“The median condo price also hit a new high in July, but prices were down slightly from the previous month,” Norton said. “This could be an early indicator that condo prices are beginning to stagnate.”

Gov. Maura Healey this month signed a policy-packed $5.16 billion housing bond package that lawmakers sent her on Aug. 1. The bill authorizes $5.16 billion in bonds, far more than the state can spend on housing, and implements 49 new housing policies. But advocates say the omissions have led to a “disappointing” final product.