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Home prices and inventory increase, sales decline in Greater Boston

by Elizabeth Kanzeg

Homes in Greater Boston fetched record-high prices last month while inventory continued to climb according to a report from the Greater Boston Association of REALTORS®.

The median sale price for a single-family home reached $930,000 in March. That’s the highest ever recorded for March and an increase of $30,000 from the same month last year.

Meanwhile, inventory rose year over year, with the number of single-family homes for sale seeing a 35.4% increase.

Single-family home sales fell 13.9% year over year, however.

“It’s encouraging to see the inventory number rise on both monthly and yearly totals as we enter into the spring market, as our eager buyer population has been patient throughout the winter,” said GBAR President Mark Triglione, broker and owner of Premier Realty Group. “Prospective buyers are still having to walk a tough road to successfully purchase a high-quality property, but hopefully the influx of inventory will provide more balance to the market than there has been in recent years.”

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