The number of homes put under agreement in the Bay State rose 18.6 percent in November compared with the same time last year, hitting a new all-time high for the month of November, according to new figures released by the Massachusetts Association of Realtors (MAR). This was the ninth straight month of increases.
"Home owners who put their houses on the market had a lot to be ‘thankful’ for in November as buyers continued to make a high number of accepted offers," 2013 MAR President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree, said in a statement. "The one present that would make buyers very happy during this holiday season are more homes for sale."
The number of single-family homes put under agreement in November rose to 3,843 in November 2013 from 3,240 in November 2012. On a month-to-month basis, single-family homes put under agreement were down 19.8 percent compared with 4,793 homes put under agreement in October 2013. A seasonal decline in the number of homes put under agreement from October to November is typical.
The number of condos put under agreement in November was up 22.3 percent compared with November 2012 (1,537 units in 2013 from 1,257 units in 2012). This is the highest number of condos put under agreement since November 2004 (1,633 units). On a month-to-month basis, condos put under agreement went down 17.1 percent from 1,853 units in October 2013.
The median sales price of single-family homes put under agreement in November was $317,000, which was up 7.5 percent from $295,000 in 2012. On a month-to-month basis, under agreement median prices were down 1 percent from $325,000 in October.
The median sales price of a condo put under agreement in November was $294,835, which was up 3.5 percent from $285,000 in 2012. On a month-to-month basis, under agreement median prices were down 0.1 percent from $295,000 in October.
MAR recently revised the way it calculates pending sales figures, in light of a change made in May by the state’s largest multiple listing service, MLS PIN, in how it calculated the number of homes put under contract in its system. The November figures reflect these revisions.
