The median sale prices for both single-family homes and condos reached new all-time highs last month, as low inventory continues to drive up prices.

The record-breaking sales price comes as the pace of transactions slid from April, the National Association of REALTORS® said. 

Boston’s median price per square foot has surged since 2019, marking one of the highest increases in the nation, according to Realtor.com’s May Housing Report. 

The S&P CoreLogic Case-Shiller U.S. National Home Price Index has hit a new record for six of the last 12 months, as demand remains strong in the face of tight inventory.

At the same time, the median price of a new home sold in April declined as well. 

Meanwhile, the median single-family home price reached $610,000, the first time it exceeded $600,000 this year.

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Sales rose 9.5% from January to a seasonally adjusted annual rate of 4.38 million.

The median existing-home price for all housing types was $379,100, up 5.1% from $360,800 a year before.       

Single-family home sales prices increased in 189 out of 221 metro areas analyzed, with the median single-family price in the country rising 3.5% year over year to $391,700.

Meanwhile, existing home sales dropped as days on market increased.

Living in some of the country’s top cities can get pretty expensive, and Boston is no different.

Pending home sales rose 8.3% month over month, the National Association of REALTORS® said, marking the largest monthly jump since 2020. 

Declining interest rates spurred the increase. 

At the same time, the median sales price rose 4.4% to $382,600. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row.