April pending home sales hit all-time high
Pending single-family home sales rose for the 14th consecutive month in April, 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 3.6 percent from 5,555 in April 2014 to 5,753. Meanwhile, the number of condominiums placed under agreement rose 6.4 percent, from 2,288 to 2,435.
This marked the highest ever April reading for pending home sales since MAR began tracking the data in 2004, and the highest condo sales reading since 2005.
“The spring real estate market started to gain momentum in April, as buyers put homes under agreement in record numbers,” MAR President Peter Ruffini said in a statement. “We’re beginning to see inventory expanding in pockets across the state and it’s a trend that needs to continue to meet the strong buyer demand.”
Pending home sale increased 11 percent from March, while pending condo sales jumped 11.5 percent.
The median April sales price for a single-family home was up 2.3 percent to $320,000, while the median condo price rose 11.7 percent to $319,000.
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