Pending Sales Increases Continue from Busy Winter into the Spring Market

The spring market is off to a good start with pending sales up over six percent from this time last year. Pending sales have been up 48 of the last 49 months. Condominiums put under agreement also saw a hike over last year, with an increase of over 14 percent from 2016. The median price for both single-family homes and condos also saw a boost. Realtors® confidence both in the market and in home prices was positive in March.

March Pending Sales:

Single Family March2017 March2016 % Change
Sales 5,848 5,491 6.5%
Median Price $350,000 $328,375 6.6%
  • Pending sales have been up 48 of the last 49 months
Condominium March2017 March2016 % Change
Sales 2,414 2,107 14.6%
Median Price $335,000 $309,700 8.2%
  • Pending sales have been up or flat 18 of the last 19 months

Realtor® Market and Price Confidence Indexes:

Confidence Index March2017 March2016 %Change
Market 78.26 72.79 8%
Price 81.09 74.45 9%
  • The Realtor® Market Confidence Index has been up or flat for 24 straight months
  • The Realtor® Price Confidence Index is up over the 80 mark for the first time since 2015
  • 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 the full March 2017 Future Indicators Report.