The median sale price for both single-family homes and condominiums continued to rise in July on a year-over-year basis, according to a new report from The Warren Group, publisher of Banker & Tradesman.

Last month, there were 6,417 single-family home sales recorded in Massachusetts, a 4.6 percent decrease from July 2018 when there were 6,726 transactions. Meanwhile, the median single-family sale price rose 4.4 percent on a year-over-year basis to $425,000, which marked an all-time high for the month of July. Year-to-date, there have been 32,643 single-family home sales – a 1.8 percent decrease from the first seven months of 2018 – with a median sale price of $400,000 – a 3.9 percent increase on the same basis.

“The median single-family home price hitting $425,000 marked an all-time high for July,” The Warren Group Associate Publisher and Media Relations Director Cassidy Norton said in a statement. “Although the spring market is now behind us, I don’t expect a return to normalcy anytime soon. Don’t be surprised if we continue to see major price gains on a year-over-year basis in the coming months.”

Concurrently, there were 5,828 purchase mortgages for single-family homes in July, marking a 2.2 percent decrease on a year-over-year basis.

July purchase mortgages totaled $2.46 billion – a 2.5 percent increase from a year earlier. Year-to-date, single-family homes have accounted for 29,456 purchase mortgages across Massachusetts totaling $11.94 billion.

According to the Massachusetts Association of Realtors, single-family inventory and the number of new single-family listings both declined in July on a year-over-year basis. There were 13,783 homes for sale this July, down 15.9 percent from the 16,385 for sale in July 2018. Last month’s figures represent a mere 2.9 months of supply for the market, MAR reported, a 17.1 percent drop since July of last year. The average number of days single family homes spent on the market rose slightly, from 46 to 49, while the number of new listings dropped 7 percent, from 6,828 to 6,347 over the same period.

In July, there were 2,463 condominiums sales, compared to 2,527 sales in July 2018 – a 2.5 percent decrease. Meanwhile, the median sale price rose 1.3 percent to $390,000. Year-to-date, there have been 13,831 condo sales – a 3.7 percent decrease – with a median sale price of $380,000 – a 1.3 percent increase from the first seven months of 2018.

“Numerous luxury condo developments are scheduled for delivery to the Greater Boston housing market in the near future,” Norton said. “Many of the developments will feature coveted amenities, high-end finishes, and will be located near public transportation. I fully expect these luxury units to continue adding upward pressure to the statewide median condo price for some time.”

Condos accounted for 1,901 purchase mortgages last month, totaling $713 million. Year-to-date, condos have accounted for 10,482 purchase mortgages totaling $3.92 billion.

MAR reported condo inventory rose slightly in July on a year-over-year basis, from 4,367 to 4,488, making for an 8.7 percent increase in the number of months of supply, to 2.5. July market the seventh straight month of increases in the state’s for-sale condominium inventory. The average length of time a condominium spent on the market in July rose to 43 days, from 41 in July 2018, while the number of new listings dropped slightly, to 2,273 from 2,296.