Single-family and condominium prices in Massachusetts continue to perform well.

The Massachusetts Association of Realtors reported this morning that the pending median price for a single-family home rose over the $400,000 mark for first time in 2018 and for the third time in the last 12 months. The single-family median price, at $405,00, is up 7.4 percent year-over-year. The pending median price for condos in May was $385,000, up 5.7 percent year-over-year.

“Buyer demand shows no signs of slowing down as we head into the busy spring and summer markets,” Rita Coffey, MAR President and general manager of CENTURY 21 Tullish & Clancy in Weymouth, said in a statement. “We may see another summer of record-breaking prices if Massachusetts doesn’t find more inventory to feed this strong demand.”

MAR also asked its members in May how they would describe their clients’ ability to secure financing in the current lending environment, compared to the same time last year. Of those who responded, a majority (73 percent) said that their clients’ ability to secure financing has remained the same since 2017.

Fifteen percent of respondents said that their clients have been having a somewhat more difficult time than last year. Another 12 percent responded that their clients have had it somewhat easier this year. A remaining 1 percent said their clients’ ability to secure financing have been significantly more difficult.

“Despite the significant tax overhaul and other financial changes brought on by the new administration, clients’ ability to secure financing for their homes has remained essentially the same over last year,” said Coffey. “It will be interesting to see how and if these answers fluctuate in another year.”