The Massachusetts Association of Realtors (MAR) reported today that buyer demand pushed pending home sales up in January more than 10 percent compared to the same time last year.
Realtors’ confidence both in the market and in home prices was positive in January. This month’s “Hot Topic” question finds that most Massachusetts Realtors are not using 3-D, virtual or augmented reality technology in marketing homes. However, a significant portion (35 percent) have tried the technology on some of their listings, indicating that this is a burgeoning trend among agents.
January Pending Sales
| Single Family | January 2017 | January 2016 | % Change |
| Sales | 3,600 | 3,254 | 10.6% |
| Median Price | $354,000 | $329,000 | 7.4% |
Pending sales have been up 46 of the last 47 months
| Condominium | January 2017 | January 2016 | % Change |
| Sales | 1,524 | 1,278 | 19.2% |
| Median Price | $330,000 | $310,000 | 6.5% |
Pending sales have been up 16 of the last 17 months
Buyers seem to be undistracted by the change and confusion going on nationally, according to 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway.
“The strong desire to live and work in Massachusetts is requiring buyers to be laser-focused on making the best offer they can when they finally find that home,” Yorkis said in a statement.
Monthly ‘Hot Topic’ Question
The January “Hot Topic” question asked Realtors how often they had used (as a listing agent) or experienced a listing (as a buyer agent) that had 3-D/virtual reality/augmented reality technology included as part of its marketing mix.
Of those Realtors who responded, 63 percent reported that none of the homes had used 3-D/virtual reality technology in the marketing. Thirty-five percent of Realtors responded that there was 3-D/virtual reality in some of the homes they had marketed themselves or experienced as a buyer agent. A remaining three percent responded that there was this technology in either all of the homes (2 percent) or most of the homes (1 percent).
