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.

Massachusetts Pending Sales and Median Price Up Again in June

Single-family pending home sales were up over nine percent in June from last year. Pending condominium sales were also up more than 12 percent. The median price for both single-family homes and condos saw a hike, with the single-family median price rising over the $400,000 mark. Realtors® confidence both in the market and in home prices dipped slightly in June.

June Pending Sales:

Single Family June 2017 June 2016 % Change
Sales 6,723 6,128 9.7%
Median Price $410,000 $380,000 7.9%
  • Pending sales have been up 51 of the last 52 months
Condominium June 2017 June 2016 % Change
Sales 2,596 2,307 12.5%
Median Price $370,000 $349,900 2.9%
  • Pending sales have been up or flat 20 of the last 22 months

Realtor® Market and Price Confidence Indexes:

Confidence Index June 2017 June 2016 %Change
Market 80.73 80.97 -0.29%
Price 71.79 73.87 -2.82
  • The Realtor® Market Confidence Index went down for the first time in 27 months
  • The Realtor® Price Confidence Index went down for the first time in six 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 June 2017 Future Indicators Report.

 

Continuing Buyer Demand Pushed Pending Sales Up in May

Single-family pending home sales were up over 11 percent in May from last year. Pending condominium sales were also up more than 12 percent this month. The median price for both single-family homes and condos continued to rise. Realtors® confidence both in the market and in home prices was positive in May, with both indexes making slight gains over 2016.

May Pending Sales:

Single Family May 2017 May 2016 % Change
Sales 7,280 6,530 11.5%
Median Price $385,000 $352,700 9.2%
  • Pending sales have been up 50 of the last 51 months
Condominium May 2017 May 2016 % Change
Sales 2,736 2,432 12.5%
Median Price $370,000 $343,000 7.9%
  • Pending sales have been up or flat 19 of the last 21 months

Realtor® Market and Price Confidence Indexes:

Confidence Index May 2017 May 2016 %Change
Market 83.54 81.25 3%
Price 73.94 72.46 2
  • The Realtor® Market Confidence Index has been up or flat for 26 straight months
  • The Realtor® Price Confidence Index has been up for 5 straight 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

 

Modest Gains for Pending Home Sales as Prices Continued to Climb in April

Single-family pending home sales increased again in April, but only by one percent compared to the same time last year. While single-family pending sales were up, condominiums put under agreement went down over six percent in April. The median price for both single-family homes and condos continued their upward trend. Realtors® confidence both in the market and in home prices was positive in April, with the Realtor® Market Confidence Index reaching a new high.

April Pending Sales:

Single Family April 2017 April 2016 % Change
Sales 6,062 6,001 1.0%
Median Price $360,000 $349,900 2.9%
  • Pending sales have been up 49 of the last 50 months
Condominium April 2017 April 2016 % Change
Sales 2,316 2,470 -6.2%
Median Price $345,000 $329,950 4.6%
  • Pending sales have been up or flat 18 of the last 20 months

Realtor® Market and Price Confidence Indexes:

Confidence Index April 2017 April 2016 %Change
Market 85.47 82.88 3%
Price 80.34 76.71 5%
  • The Realtor® Market Confidence Index has been up or flat for 25 straight months
  • Highest Realtor® Market Confidence Index has been since MAR began recording the data in 2008
  • The Realtor® Price Confidence Index is up over the 80 mark for the second 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

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.

Buyer Demand Keeps Pending Sales Strong in January

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Ongoing buyer demand pushed pending home sales up in January more than 10 percent compared to the same time last year. Realtors® confidence both in the market and in home prices was positive in January.

January Pending Sales:

Single Family January 2017 January 2016 % Change
Sales 3,600 3,254 10.6%
Median Price $354,000 $329,700 7.4%
  • Pending sales have been up 46 of the last 47 months
Condominium January 2017 January 2016 % Change
Sales 1,524 1,278 19.2%
Median Price $330,000 $310,000 6.5%
  • Pending sales have been up 16 of the last 17 months

Realtor® Market and Price Confidence Indexes:

Confidence Index January 2017 January 2016 %Change
Market 69.63 66.98 4%
Price 75.19 73.32 2%
  • The Realtor® Market Confidence Index was up for the 10th straight month
  • 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 January 2017 Future Indicators Report.