housesales_snowNear-record snowfall has not only strained town budgets and the region’s patience this winter – it’s also affecting the local real estate market.

The number of Massachusetts single-family homes put under agreement in January was down 7.3 percent compared to the same time last year, according to the Massachusetts Association of Realtors (MAR). The number of condominiums put under agreement statewide in January was down 12 percent.

"Despite our general toughness as New Englanders, the significant snow in January kept buyers busy shoveling rather than making offers to buy homes last month," said 2011 MAR President Laurie Cadigan, broker/owner of Barrett & Co. in Concord. "We still believe consumer confidence is better than it has been recently and when you combine that with declining prices, the opportunity is there for the number of homes put under agreement to go up in February."

The number of single-family homes put under agreement in January decreased to 2,587 in January, compared to 2,791 in January 2010. On a month-to-month basis, single-family homes put under agreement were down 10.4 percent from 2,888 homes in December.

The number of condos put under agreement in January dropped to 1,046 units, compared to 1,194 units in January 2010. On a month-to-month basis, condos put under agreement were exactly even at 1,046 units in December.

 

Mass. January Pending Homes Sales Down As Snow Plays Factor

by Banker & Tradesman time to read: 1 min
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