Massachusetts Pending Home Sales Up and Market Confidence High in December to Close out the Year and Throughout 2017

Buyers continued to come out and make accepted offers on single-family homes and condominiums in the final month of the year as the number of homes put under agreement and prices increased in DecemberAs a whole, 2017 saw both homes put under agreement and average median prices increase compared to 2016.

December Pending Sales: 

Single-Family  December 2017  December 2016  % Change 
Sales  3,162  2,834  11.6% 
Median Price  $382,500  $358,750  6.6% 
  • Pending sales have been up 11 of the last 12 months 
Condominium  December 2017  December 2016  % Change 
Sales  1,164  1,068  9.0% 
Median Price  $352,500  $342,500  2.9% 
  • Pending sales have been up 10 of the last 12 months 

Year-End Pending Sales: 

Single-Family  2017  2016  %Change 
Sales  57,308  56,605  +1.2% 
Avg. Median Price  $376,292  $353,644  +6.4% 

 

Condominium  2017  2016  %Change 
Sales  22,634  21,896  +3.4% 
Avg. Median Price  $349,163  $331,929  +5.2% 

Read more in the December 2017 Future Indicators Report.

Pending Home Sales Jump in November as Prices Rise Again

Single-family pending home sales rose over 12 percent this month from November of last year, with prices rising over four 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 almost 20 percent in November, while confidence in prices raised only slightly over last year.

November Pending Sales:

Single Family November 2017 November 2016 % Change
Sales 4,359 3,871 12.6%
Median Price $385,000 $369,000 4.3%
  • Pending sales up for 11 out of the last 12 months
Condominium November 2017 November 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

Read more in the November 2017 Future Indicators Report.

Breaking: Governor Charlie Baker Rolls Out Plan to Boost Housing Across the State

Governor Charlie Baker announced a plan Monday to add more housing to the anemic Massachusetts market. The plan includes $10 million dollars in grants and incentives to municipalities that add housing quickly. He’ll also ask the legislature to make it easier for communities to change zoning rules that make it difficult to build certain types of housing.

“More housing is the best way to solve our ongoing inventory crisis,” said 2017 Massachusetts Association of Realtors® President Paul Yorkis, president of Patriot Real Estate in Medway. “We are glad that the Governor is making housing production a priority and we look forward to working with his administration to tackle this important issue.”

Read more in the Boston Globe.

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.