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Melrose home sales level in March, prices up

Posted by Jarret Bencks  April 24, 2013 08:26 AM

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Home sales in Melrose were level last month, going against a downward statewide trend, according to recently released data.

A total of 13 single family homes were sold in Melrose in March, up from 12 in March 2012, according to real estate publisher The Warren Group.

Year-to-date, 31 homes have sold in Melrose, exactly matching the sales total for the first three months of 2012.

Median sale prices are up about 5 percent, from $380,000 through March 2012, to $400,000 in the first three months of this year.

For single-family stats, click here; for condos, click here.

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."

Jarret Bencks can be reached at bencks.globe@gmail.com. Follow him on twitter @JarretBencks.

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