The median price of condominiums has reached an all-time high in Santa Clarita during the month of June, rising nearly 7 percent, officials said Thursday.

The median price for condominiums in the Santa Clarita Valley registered a record-high of $415,000 during June, which is 6.4 percent higher than a year ago, according to the Southland Regional Association of Realtors.

This record price broke the prior record of $410,000 that was set in April 2018 and again this April.

“The reason everything is so expensive is from a shortage of inventory,” said Richard Szerman, a Santa Clarita realtor with Alta Realty Group.

Single-family homes sold during June had a median pricing of $605,000, according to officials.

This was 0.8 percent below a year ago and lower than the $615,000 median reported in May 2018, which is the highest in this real estate boom cycle, according to officials.

The record high single-family median price of $643,000 set in April 2006 has yet to be surpassed.

“Somehow prices keep getting pushed higher, although we’re at the point where the pool of buyers who can afford these prices keeps getting smaller and smaller,” said Amanda Etcheverry, the 2019 chair of the Santa Clarita Division of the Southland Regional Association of Realtors. “The inventory continues to expand, but at a much slower pace and not nearly fast enough or large enough to ease pressure off prices.”

Even with low-interest rates, rising prices and a tight inventory translate to fewer sales, she said.

Although the price of living went up in Santa Clarita during June, less people sold their homes that month than June of last year, according to officials.

A total of 237 single-family homes changed owners during June, which was down 41 sales or 14.7 percent from a year ago and followed two consecutive months of sales gains.

“Low-interest rates continue to fuel buyer interest and demand, stretching housing dollars farther,” said Tim Johnson, the Association’s chief executive officer, “Yet low-interest rates also enable sellers to boost their asking price. Bottom line, for now, is that an increase in active inventory may be the best way to neutralize or slow price hikes, yet listing gains now are coming in slow motion.”

Inventory came close to a record low in December 2017 and has been trending upward since, though the pace of that increase has slowed dramatically in 2019.

Check prices of using precondo.

January opened with a 58.5 percent increase over the prior year, but that increase has steadily fell to June’s supply increase of 8.4 percent, according to officials.

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