Big jump in Mass. pending sales from February to March

Today we released pending sales numbers for March 2011 and the number of single-family homes put under agreement had the biggest month-to-month jump since we’ve been tracking this data. Condos had its second largest month-to-month jump. On an annual basis, pending sales for both single-family and condos were down compared to the year before.

We were hearing from Realtors(R) across the state that activity had started to improve toward the end of February and that improvement continued in March. When comparing March on an annual basis, it is important to remember that buyers in March 2010 were taking advantage of the home buyer tax credit.

Link to full March 2011 Pending Sales Release

Here are the highlights:

  • Single-family pending home sales were down 16.33% compared to March 2010
  • Single-family month-to-month pending home sales were up 40% from Feb. 2011
  • Condo pending home sales were down 22% compared to March 2010
  • Condo pending month-to-month home sales were up 45.4% from March 2011