Sales of single-family homes and condominiums remained strong in March to end the first quarter of 2019 on a high note. With prices increasing more modestly and listing inventory well ahead of last year, the Boston metro market appears primed for another hot selling season.

“With inventory improving, we’ve seen our eager buyer population react by keeping sales high, as they are taking advantage of modest price appreciation and current mortgage rates,” said Jim Major, president of the Greater Boston Association of Realtors. “An increased supply has helped us reach the spring market earlier than usual. With a mild winter behind us, and a plentiful supply, buyers are looking to take advantage now before potential further mortgage rate increases.”

Overall, single-family home sales grew 6.9 percent in March compared to the same month last year, well ahead of the national rate. At the same time, the median sales price on detached homes grew by only 3.4 percent year-over-year, slightly slower than the median price increase seen nationwide. Meanwhile, the number of active listings throughout the Greater Boston area grew to 2,384, a 7.7 percent increase compared to March 2018 and one-third more than the number of active listings tallied in February. In just the last month, the number of new listings surged by nearly 50 percent, with pending sales growing at nearly the same rate, hinting at even better numbers to come.

“We’ve yet to see these record-high prices quell any buyer enthusiasm, and sellers should take advantage of these higher price points and growing buyer population,” Major said in response to the March figures. “With inventory levels as they are, we should expect a robust spring market, as we’ve also seen an influx of pending sales which we can anticipate will close in April and May.”

Boston’s condo market rebounds

Condo sales across the Boston metro area declined on a year-over-year basis by 9.9 percent. However, condo sales were up nearly 30 percent compared to the previous month, while active listings, new listings and pending sales all trended higher. The median sales price of a condo in March was $550,000, a 3.1 percent increase from February and almost identical to the March 2018 median.

According to a separate report from Berkshire Hathaway HomeServices Warren Residential, South Boston remained among the most active areas of the city for condo sales in the first quarter of 2019. Condo sales in South Boston grew more than 14 percent year-over-year, totalling 97 transactions and more than $76 million in combined sales volume in the first three months of the year. Roslindale, East Boston and Charlestown also saw closings increase by more than 50 percent each in Q1. But South End recorded the highest total sales volume of the areas tracked in Warren Residential’s condo report, at $80.4 million from 62 completed transactions in Q1 (a 6.9 percent increase from Q1 2018).