Housing Market

Home prices continue upward trend in March as sales falter

Home prices continue upward trend in March as sales falter

Home prices continued to rise in March even as the number of sales dropped amid weak supply, a new housing report finds.

The median price in the Baltimore metro area was $259,000, up 5.7 percent or $14,000, from a year ago and was the highest sales price in March of the decade, according to data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.

But the total number of sales dropped 6.3 percent to 3,081 last month and the number of new contracts contracted 9.9 percent to 4,221, the report found.

The sales decline may be driven by a fall in inventory, as the number of homes on the market plunged 10 percent to 8,507, the fewest in 10...

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