There are signs that the housing market in Massachusetts could be heading for a buoyant fall buying season
There are signs that the housing market in Massachusetts could be heading for a buoyant fall buying season.
The state’s real estate association says that September pending home sales were up 4% year-over-year for single-family homes (5,288) while the median price jumped 4.5% to $395,876.
For condos, there was a 3.4% rise in sales (1,918) and 1.2% increase for the median price to $349,000.
“The busy summer market shows no signs of slowing down despite home prices hovering near the $400,000 threshold,” said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway. “While there is no such thing as a crystal ball, pending sales is the closing thing we have. At this point, it looks like buyer demand will continue through the fall and winter.”
Inventory remains tight in Massachusetts but Realtors are confident in the market with a 4.64% rise in the MAR Market Confidence Index. Confidence in rising prices was up 1.98% among real estate agents.
The association’s Market Pulse survey asked Realtors about the appraisal process and found that 72% said that appraisals are generally coming in at the agreed upon price.
Another 14% said that appraisals came in below the agreed upon price (11%) or significantly below the agreed upon price (3%); while 8% said that appraisals were coming in over the agreed upon price.
The state’s real estate association says that September pending home sales were up 4% year-over-year for single-family homes (5,288) while the median price jumped 4.5% to $395,876.
For condos, there was a 3.4% rise in sales (1,918) and 1.2% increase for the median price to $349,000.
“The busy summer market shows no signs of slowing down despite home prices hovering near the $400,000 threshold,” said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway. “While there is no such thing as a crystal ball, pending sales is the closing thing we have. At this point, it looks like buyer demand will continue through the fall and winter.”
Inventory remains tight in Massachusetts but Realtors are confident in the market with a 4.64% rise in the MAR Market Confidence Index. Confidence in rising prices was up 1.98% among real estate agents.
The association’s Market Pulse survey asked Realtors about the appraisal process and found that 72% said that appraisals are generally coming in at the agreed upon price.
Another 14% said that appraisals came in below the agreed upon price (11%) or significantly below the agreed upon price (3%); while 8% said that appraisals were coming in over the agreed upon price.
