Home sales in Malden increased nearly 40 percent last month, going sharply against state trends, which saw an overall slight decrease in sales, according to recent data.
A total of 18 single-family homes were sold in Malden last month, compared to 13 in March 12, according to real estate publisher The Warren Group. Home sale prices in the city have also trended up: The median sale price year-to-date is $282,500, up from $252,500 in the first three months of last year.
A total of 36 single-family homes have sold in Malden so far this year, up from 31 in the first three months of 2012. Condo sales are also up slightly on the year, from 23 to 26.
Statewide, single-family home sales dropped over 3 percent from 3,215 in March 2012 to 3,100 last month. Median sale prices in the state rose from $263,000 in March 2012 to $285,000 last month.
Those in the real estate industry are hopeful that low interest rates on mortgages will help accelerate the market, David Harris, editorial director at The Warren Group, said in a statement.
"Low inventory is plaguing housing markets all over the country, and Massachusetts is no exception," he said. "With mortgage rates low and prices competitive, we're hopeful more sellers will emerge and the trend in dropping home sales will reverse."