In Baltimore City, the median home price was flat at $115,150.
Agents and economists said March's unusually harsh weather dampened last month's activity, but the Baltimore region fared better than other markets, such as Washington. Many are predicting that pent-up demand will drive a busy spring season.
"We would have had a better March if we had more traditional weather," said Alyssia Essig, sales manager for the Prudential/PenFed Realty office in Roland Park. "I think you're going to see an explosive spring."
The number of active listings last month increased almost 11 percent year over year to 10,659, but inventory remains low. RealtyTrac's Blomquist said the combination of low inventory and buyer demand may help prices rise, despite the large share of distressed homes.
"There's enough demand in the market that it's not causing home prices to decrease, even with the additional foreclosure activity," Blomquist said.
Ross Mackesey, sales manager of Long & Foster Real Estate's Greenspring office in Lutherville, predicted that prices will rise this spring.
"I think that we're probably looking at keeping pace with inflation and I think that's good," Mackesey said. "If we can continue to do that while we are working through the distressed property inventory, I think we've done well."
How Md. stacks up
Top states by foreclosure rates in March
1. Florida with 1 foreclosure filing for every 407 housing units
2. Maryland with 1 in every 527
3. Indiana with 1 in every 656
4. Ohio with 1 in every 663
5. Illinois with 1 in every 682
Delaware with 1 in every 820
Pennsylvania with 1 in every 1,113
Virginia with 1 in every 2,102
Washington, DC with 1 in every 29,667