December closes out a strong year for pending home sales in Massachusetts

The one theme that carried through all 12 months of 2013 was “not enough homes for sale.” Yet despite that, buyers continued to make offers that sellers accepted in December and through all of 2013. The big question that remains for 2014 is whether homeowners, who are interested in selling, will finally put their homes on the market. As prices continue to push upward, we are in danger of the market slowing down if there are not enough homes to buy.

Read: December 2013 Pending Home Sales Release

Here are the highlights:

December 2013:

  • Single-family pending home sales were up 11.4% compared to December 2012
  • Single-family month-to-month pending home sales were down 26.9% from November 2013 (which is typical)
  • Single-family median price up 6.3% from December 2012 (to $320,000)
  • Condo pending home sales were up12% compared to December 2012
  • Condo pending month-to-month home sales were down 32% from November 2013
  • Condo median price up 8% compared to December 2012 (to $305,000)

Year-End 2013:

  • Pending single-family home sales up 11.3% compared to 2012 (52,382 homes in 2013 from 47,082 homes in 2012)
  • Pending condo sales up 15% compared to 2012 (21,205 condos in 2013 from 18,437 homes in 2012)