The median sales price for a single-family home sold in Massachusetts eclipsed the $600,000 barrier for the first time last month, as rising mortgage rates have proven to be no match for an ongoing imbalance between tight supplies and robust demand.

The Warren Group, a Peabody-based provider of real estate and banking data, recently reported that the median price for a single-family home sold in Massachusetts was $610,000 last month, up 9.9% from the June 2021 median of $555,000 — and a whopping 38.6% higher than it was two years ago ($440,000).

Sales, however, are down — a reflection of less available inventory. The 6,182 single-family homes sold in Massachusetts last month represents an 11.5% decline from the comparable month a year ago, when 6,987 homes were sold.

Tim Warren, CEO of The Warren Group, noted that it's been only 14 months since the statewide median home sale price first surpassed $500,000.

"I doubt we’ve seen the end of it,” Warren said, in a statement. “Experts keep speculating that with the recent hike in interest rates that prices could plateau in the near future, but I’m not sure we’re at the tipping point just yet."

Over the past year, the average rate on a 30-year mortgage — the most common loan used for initial home purchases — has increased from a historically low 2.98% to 5.52%, according to Freddie Mac.

For a $400,000 loan, that's a difference of nearly $600 ($2,276 vs. $1,682) on a monthly payment.

"Price increases are moderating this year, but they are far from flatlining," Warren said. "There are just so many buyers and not enough homes to go around. I expect prospective buyers to continue paying significant premiums in the coming months, even as it gets more expensive to borrow money."

Prospective buyers who are hoping for relief by pursuing traditionally cheaper condominiums are also likely to be disappointed.

The median price for a condominium sold last month in Massachusetts was $539,000, up 10.2% from a year ago ($489,000) and 34.8% higher than two years ago ($400,000).

Condo sales totaled 2,748 statewide last month, which was an even sharper year-over-year decline — 13.8%, or from 3,189 in June 2021 — than was the case for single-family homes.

Warren noted that even though condominiums, by and large, are less expensive than single-family homes, they're "still prohibitively expensive for many buyers, especially as purchasing power declines due to rising mortgage rates.”

A look at the housing numbers for some MetroWest communities follows:

Framingham

Framingham bucked the statewide trend, as it saw 79 single-family homes sold last month, up from 77 sold in June 2021. The median sales price was $657,000 for June, up 9.9% from $598,000 in the same month a year earlier.

There were 98 condominiums sold in the city last month, down from 106 in June 2021. Last month's median sales price was $260,000, down 1.3% from $263,500 a year ago.

Natick

Only 39 single-family homes were sold in Natick last month, down significantly from the 59 sold in June 2021. The median sales price for June was an even $900,000, up 12.5% from the June 2021 median of $800,000.

Seventeen condominiums were sold in Natick last month, down from 20 in June 2021. But their median sales price was $700,000, up a whopping 40.7% from the year-ago figure of $497,500.

Marlborough

There were 40 single-family homes sold in Marlborough last month, up from 33 in the same month a year earlier. Last month's median sales price was $570,000, up 14.2% from the June 2021 median of $499,000.

There was apparent opportunity for entry-level buyers in the city's condominium market. Thirty-four condominiums were sold in Marlborough last month, twice as many as were sold in June 2021. And the median sales price was a modest $180,000, down more than half from the June 2021 median of $365,000.

Milford

There were 24 single-family homes sold in Milford last month, down from 28 sold in June 2021. The median sales price last month was $559,000, up 12.5% from the year-ago figure of $497,000.

Fourteen condominiums were sold in town last month, up from 11 sold in June 2021. The median sales price was $404,500, up 7.3% from the year-ago median of $377,000.

Franklin

Sales of single-family homes dropped 31% in Franklin during June, from 58 last year to 40 this year. The median price for those sold last month was $687,500, up 1.9% from the year-ago median of $675,000.

Twenty condominiums were sold in Franklin last month, down from 22 sold during June 2021. The median sales price rose 13.7%, year over year, from $397,000 last year to $451,483 this year.

Sudbury

There were 38 single-family homes sold during June in Sudbury, down 24% from the 50 sold in the same month a year ago. The median sales price for a single-family home in Sudbury, which eclipsed $1 million for the first time last summer, is now more than $1.5 million — $1,519,000 last month. That's a 39.3% jump from the June 2021 median of $1,090,750.

Twelve condominiums were sold in Sudbury last month, compared to 13 in June 2021. Their median sales price was $770,335, up 30.6% from the year-ago median of $589,900.

Ashland

There were 25 single-family homes sold in Ashland last month, down from 31 in June 2021. The median sales price for a home sold in town last month was $600,000, down 4% from the year-ago figure of $625,000

Twelve condominiums were sold in Ashland during June, down from 20 in the same month a year earlier. But their median sales price rose sharply — 42.6% — from $430,000 to $613,000.

Hopkinton

There were 29 single-family homes sold in Hopkinton last month, up from 21 in June 2021. The median sales price surpassed $1 million — it was $1.05 million — and that was 15.4% higher than the June 2021 median sales price of $910,000.

Thirteen condominiums were sold in Hopkinton during June, one more than were sold in the same month a year ago. The median sales price was $771,000, up a robust 73.5% from the year-ago median of $444,500.

Holliston

There were 28 single-family homes sold in Holliston last month, down from 34 in June 2021. The median sales price was $732,000, up 11.8% from the year-ago median of $655,000.

Twenty-two condominiums were sold in Holliston last month, up from 20 in June 2021. Their median sales price was $477,500, up 20.9% from the year-ago median of $395,000.

Bellingham

Twenty-four single-family homes were sold in Bellingham during June, up from 19 in the same month a year ago. The median sales price was $404,500, which was a decline of 7.6% from the year-ago median sales price of $438,000.

There were two condominiums sold in town last month, down from six in June 2021. No monthly median sales price was given, although year to date it's $380,750, a 3.6% gain from the six-month median of $367,500 a year ago.

This article originally appeared on MetroWest Daily News: MA median home price surpasses $600K for first time in June