December 10, 2013

Mass. Pending Home Sales Up Over 2012

Pending single-family home sales rose for the ninth consecutive month in November, according to the state's Realtors' group.

The Massachusetts Association of Realtors (MAR) said the number of homes placed under agreement – indicating they'll likely be sold in the next two to three months – increased 18.6 percent from 3,240 homes in November 2012 to 3,843 homes this year. The number of condominiums placed under agreement increased 22.3 percent from 1,257 last year to 1,537 this year, MAR said.

MAR said the pending home sales figure was its highest ever November reading, , while the pending figure for condos is the highest for any November since 2004.

"Home owners who put their houses on the market had a lot to be thankful for in November as buyers continued to make a high number of accepted offers," MAR president Kimberly Allard-Moccia said.

However, pending home sales decreased 19.8 from October, while pending condo sales decreased 17.1 percent. A decrease from October to November is typical, MAR said.

The median October sale price for a single-family home was up was up 7.5 percent to $317,000, while the median condo price was up 3.5 percent to $294,835, the MAR said.

(Image Credit: FreeDigitalPhotos.net)

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