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.

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.

Level Up Your Direct Messaging Strategy on Facebook

Facebook has been working hard to push (and monetize) its direct messaging platform, Messenger, since it became a standalone app in 2011. Messenger now has 1.3 billion monthly users. While the majority of these users may be sending selfies with the cute cat filter, the space is ripe for capitalization by small businesses wanting to start a conversation with consumers. (Ahem, Realtors®.)

Since 2011, Facebook Messenger has been hard at work adding paid features that businesses can take advantage of to reach their current and future customers. If you’re familiar at all with Facebook advertising, you may have noticed the option to place ads in the direct messenger. Read on to learn the ways you might be able to incorporate these paid direct messaging options into your advertising strategy:

  1. Sponsored Messages,” although currently in testing and only available to a handful of advertisers, represent an interesting pivot for Facebook Messenger. The tool will allow for brands to pay for direct messages to consumers who have previously engaged with them on the app. Though some have criticized the move, saying messages from brand with dilute the experience for users who use the app to connect with friends and family, it remains a promising tool for businesses who want to reach consumers directly.
  2. Perhaps the easiest route to encourage consumers to chat with you is a simple Click To Message ad. Facebook has added a “Message” button you can add to any of your promotions that will open a pop-up chat window with your business.

    Example of an ad with a direct messaging call-to-action.
  3. Finally, this July, Facebook added the option to buy display ads within the chat inbox. This provides a less intrusive option to reach consumers in the Messenger setting, without the well, pushiness of push notification.Messenger ad within the inbox.

Have you experimented with Facebook’s direct messaging features? Have any questions? Let us know in the comments below, or you know, message us on Facebook

Massachusetts Median Home Prices Remain at the $400,000 Mark as Number of Homes for Sale Reach Lowest Level for July since 2004

Front Porch Of Resedential Home With Autumn Decorations

The median price for a single-family home hit the $400,000 mark for the second month in a row in July. Single-family homes saw a dip in sales over last year, while condominiums sales rose slightly. Inventory also reached the lowest level for the month of July since MAR began recording the data in 2004.
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