Pending Home Sales See Another Bump in October as Prices Remain Near $400,000 Mark

Single-family pending home sales rose over two percent this month from October of last year, with prices rising close to five percent. Pending condominium sales were also up, rising more than two percent over last year, while prices increased slightly. Realtors® confidence in the market was up again in October, while confidence in prices dropped slightly over last year.

October Pending Sales:

Single Family October 2017 October 2016 % Change
Sales 5,181 5,055 2.5%
Median Price $395,900 $378,750 4.5%
  • Pending sales up for 11 out of the last 12 months
Condominium October 2017 October 2016 % Change
Sales 1,895 1,854 2.2%
Median Price $349,000 $345,000 1.2%
  • Pending sales up for nine out of the last 12 months

Realtor® Market and Price Confidence Indexes:

Confidence Index October 2017 October 2016 %Change
Market 72.24 70.18 2.95%
Price 67.86 68.86 -1.46%
  • The Realtor® Market Confidence Index up for the 29th time in 30 months
  • The Realtor® Price Confidence Index down for the fourth time in 12 months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read more in the October 2017 Future Indicators Report.

How I stay on Top of the News in Massachusetts

Newspaper and digital tablet on wooden table

How do we have time for reading when we’re too busy liking Facebook posts, snapping Instagram selfies or playing Candy Crush? (ok, not sure anyone plays it, but I continue to get invitations to join!) Of course, I’m being a little facetious when I say that, because when it comes to being busy, Realtors® are some of the busiest people I know!

So how do you keep up with goings on in Massachusetts if you’re busy dealing with clients, lawyers and appraisers etc.? If you were asking yourself that very question, let me give you an answer by sharing what I use to make sure I know what’s going on at Beacon Hill and around the state.

I subscribe to three different emails. Each accomplishes essentially the same thing and it really comes down to personal preference. I suggest giving each a try and picking the one you like best. And if there are others out there that I might have missed, please let me know in the comment section as I’m always on the lookout for new sources too.

The Daily Download
This daily newsletter is produced by CommonWealth Magazine, which is published by the Massachusetts Institute for a New Commonwealth, a nonprofit, nonpartisan think tank typically identified as MassINC.

MASSterList
MASSterList is published by Jay Fitzgerald and Keith Regan, two seasoned political reporters who know their way around Beacon Hill politics. This newsletter is described as providing a wide-ranging summary of the latest news on Massachusetts politics, public policy, and government that is curated from a rich array of sources, both conventional and niche.

POLITICO: Massachusetts Playbook 
POLITICO describes itself as the national global news and information company at the intersection of politics and policy. The Massachusetts edition of the Playbook is written by Lauren Dezenski’s and is described as the “must-read rundown of what’s up on Beacon Hill and beyond.”

Rising Pending Home Sales in September Could Signify a Busy Fall Real Estate Market

Single-family pending home sales jumped over four percent this month from September of last year, with prices rising close to five percent. Pending condominium sales were also up, rising more than three percent over last year, while prices increased slightly. Realtors® confidence in the market and in home prices were both up again in September. This month’s “Hot Topic” question asks Realtors® how they would describe the appraisal process in the last six months.

September Pending Sales:

Single Family September 2017 September 2016 % Change
Sales 5,288 5,056 4.6%
Median Price $395,876 $378,750 4.5%
  • Pending sales up for 11 out of the last 12 months
Condominium September 2017 September 2016 % Change
Sales 1,918 1,855 3.4%
Median Price $349,000 $345,000 1.2%
  • Pending sales up for 10 out of the last 12 months

Realtor® Market and Price Confidence Indexes:

Confidence Index September 2017 September 2016 %Change
Market 76.74 73.33 4.64%
Price 68.48 67.15 1.98%
  • The Realtor® Market Confidence Index up for the 28th time in 29 months
  • The Realtor® Price Confidence Index up for the eighth time in nine months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read more in the September 2017 Future Indicators Report.