Massachusetts saw a nearly 25 percent year-over-year increase in the number of single-family homes that went under agreement, the Massachusetts Association of Realtors said Thursday. For condos, that figure was 20 percent.
A pending sale or a sale under agreement happens when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement but have yet to close, according to the association.
In more good news for sellers, the median pending sales price for single-family homes and condos went up. The median price for single-family homes hit $410,000, a 5.1 percent increase over what they were in September 2018, while the cost of a condo reached $375,000, a 10.3 percent jump.
“Even with strong activity in the summer, buyers were out in force in September,” said Anne Meczywor, association president and a broker/associate at Roberts & Associates Realty Inc. in Lenox. “The demand to live in Massachusetts combined with a strong job market and low interest rates continued to fuel the market for homeownership.”