Pending home sales across the state climbed for the 20th straight month in October, the Massachusetts Association of Realtors (MAR) reported. According to MAR’s October Future Indicators Report, there was a 23.5 percent increase in accepted offers since same time last year. Median price of accepted contracts was up slightly at $325,000, from $320,000 in October 2013.   

October single-family pending sales rose to 5,087 compared to 4,119 in October 2013.

Condominium pending sales rose to 1,877 in October 2014, compared to 1,646 in October 2013, an increase of 14 percent. This is the highest number of condos put under agreement in October since MAR began tracking this data.

"We saw a large number of accepted offers in October as buyers took advantage of continued low interest rates and moderating prices," 2014 MAR President Peter Ruffini, regional vice president at Jack Conway & Company in Norwell, said in a statement. "With inventory increasing in market areas around the state, we should see closed sales start to pick up as well."

Despite the strong rise in accepted offers, agent confidence in the strength of the market took another dive in October, with MAR’s Realtor Market Confidence Index dropping 14 percent compared to the same time last year, to 53.62 from 62.02 in October 2013. Realtors were worried about prices continuing their rise, with the Realtor Price Confidence Index slipping 7 percent to 65.11 in October compared to 71.51 in October 2013.

This is the 12th straight month that the confidence index has declined, and the seventh straight month that the price index has declined. Index numbers greater than 50 indicate belief in strong market conditions.