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.

Confidence in Market Very High as Pending Home Sales Hits Another Record for the Month of April

pendingsales_gradientFBHome sales momentum from the winter has continued into the spring, as April pending home sales increased just over 30 percent from last year. Realtors® confidence in the market increased to the highest level since May 2013 after a year of steady increases.

April Pending Sales:

Single Family April 2016 April 2015 % Change
Sales 7,139 5,477 30.3%
Median Price $350,688 $325,000 7.9%
  • Pending sales have been up 37 of last 38 months
  • Most pending sales in the month of April since 2004

 

Condominium April 2016 April 2015 % Change
Sales 2,782 2,448 13.6%
Median Price $329,628 $305,000 8.1%
  • Pending sales have been up 37 of the last 38 months

 

REALTOR® Market and Price Confidence Indexes:

Confidence Index April 2016 April 2015 %Change
Market 82.88 82.28 0.73%
Price 76.71 80.66 -4.89%
  • The Realtor® Market Confidence Index was up for the 13th straight month
  • The Realtor® Price Confidence Index was down for the fifth 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 the full April 2016 Future Indicators Report release.

Pending Home Sales Continue to Rise as Winter Slowly Turns to Spring

pendingsales_gradientFBHomebuyers are not slowing down after a particularly active winter, with pending home sales rising over 50 percent from March of last year. Realtors® confidence in the market went up again, as it has every month for the past year. This month’s “Hot Topic” question finds that the majority of Realtors® are seeing busier-than-normal open houses, with 16 percent reporting this is the busiest first quarter they’ve seen.

March Pending Sales:

Single-Family March 2016 March 2015 %Change
Sales 6,431 4,177 54.0%
Median Price $329,900 $320,000 3.1%
  • Pending sales have been up 36 of the last 37 months
Condominium March 2016 March 2015 %Change
Sales 2,401 1,906 26.0%
Median Price $307,500 $307,000 0.2%
  • Pending sales have been up 36 of the last 37 monthsMarchPendingChart
Confidence Index March 2016 March 2015 %Change
Market 72.79 69.18 5.23%
Price 74.45 78.88 -5.62%
  • The RMCI was up for the 12th straight month
  • The RPCI was 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 the full March 2016 Future Indicators Report release.

Massachusetts Home Buyers Did Not Slow Down in August

Pending SalesMAR reported today that very strong buyer activity in August pushed pending home sales up over 40 percent from the same month last year. REALTORS® showed growing confidence in the market again in August as the REALTOR® Market Confidence Index was up over 20 percent from August 2014.

Read the full August pending sales release.

August Pending Sales:

Single-Family August 2015 August 2014 %Change
Sales 5,886 4,157 41.6%
Median Price $368,000 $350,000 5.1%
  • Pending sales have been up 29 of the last 30 months
Condominium August 2015 August 2014 %Change
Sales 2,042 1,578 29.4%
Median Price $338,400 $325,000 4.2%
  • Pending sales have been up 29 of the last 30 months

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Confidence Index August 2015 August 2014 %Change
Market 74.16 61.15 21%
Price 68.61 70.00 -2%
  • The RMCI was up for the fifth straight month
  • The RPCI has been down two of the last five 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 the full release: Massachusetts Home Buyers Did Not Slow Down as Pending Homes Sales Up Significantly in August

 

August Future Indicators Report: Pending Sales Continued to Climb

The Massachusetts Association of REALTORS® (MAR) announced the results of its Future Indicators Report today for the month of August. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document.

Pending home sales climbed to their highest levels for any August since MAR began tracking homes under agreement in 2004. According to the August Future Indicators Report, there was a 15.7 percent increase in accepted offers compared to the same month the year before. Median price of homes put under agreement also went up, increasing 2.2 percent compared to August 2013.

Here are the August 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 15.7% compared to August 2013
  • Single-family median price up 2.2% from August 2013 (to $352,000)
  • Condo pending home sales were up 10.7% compared to August 2013
  • Condo median price up 1.4% compared to August 2013 (to  $325,000)
  •  18th straight month of single-family year-over-year increases.
  • The most homes put under agreement in August since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
August 2014
August 2013
% Change
 Market  61.15 69.26  -12%
 Price 70.00 73.57  -5.0%
  • The tenth straight month that the RMCI has gone down.
  • The seventh straight month that the RMCI has been over the 60-point mark.
  • The 18th straight month the RPCI was over the 70-point mark.
  • 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.

Click link to read the full release: August Future Indicators Report: Pending Sales Continued to Climb

MAR Debuts Future Indicators Report

The Massachusetts Association of REALTORS® (MAR) announced the results of its first Future Indicators Report today for the month of May. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. Look out for the new Future Indicators Report the second Tuesday of every month.

Here are the May 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 7.2% compared to May 2013
  • Single-family median price up 7.4% from May 2013 (to $349,000)
  • Condo pending home sales were up 3.7% compared to May 2013
  • Condo median price up 8.6% compared to May 2013 (to  $315,000)
  •  15th straight month of single-family year-over-year increases.
  • The most homes put under agreement in May since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
May 2014
May 2013
% Change
 Market  67.73  83.08  -19%
 Price  76.58  81.95  -7.0%
  • The seventh straight month that the RMCI has gone down.
  • The fourth straight month that the RMCI has been over the 60-point mark.
  • The 15th straight month the RPCI was over the 70-point mark.
  • 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.

Monthly ‘Hot Topic’ Question:
In response to the monthly “Hot Topic” question, 55 percent of REALTORS® who responded, reported that continued low inventory had increased buyer attendance at open houses.

Click link to read the full release: May Future Indicators Report: Pending Sales Up as Price and Market Confidence Index Down