Pending home sales up 11% in 2013
Pending single-family home sales rose for the tenth consecutive month in December, closing 2013 with an 11.3-percent increase over 2012, 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 11.4 percent from 2,521 homes in December 2012 to 2,808 homes this year. The number of condominiums placed under agreement increased 12 percent from 933 last year to 1,045 this year, MAR said.
MAR said the pending home and condo sales figures were its highest ever December readings.
For the year, pending home sales jumped from 47,082 in 2012 to 52,382 in 2013, while pending condo sales grew 15 percent from 18,437 to 21,205 units.
“2013 was a good, stable year of recovery for the real estate market,” MAR president Peter Ruffini said. “We expect 2014 to be another good year.”
Pending home sales decreased 26.9 percent from November, while pending condo sales fell 32 percent. A decrease from November to December is typical, MAR said.
The median December sales price for a single-family home was up 6.3 percent to $320,000, while the median condo price rose 8 percent to $305,000.
(Image credit: freedigitalphotos.net)
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