Pending home sales post 12th consecutive month of gains statewide

The number of single-family home listings put under agreement in May grew once again compared to the same time one year earlier, according to a statewide report from the Massachusetts Association of Realtors.

That marks 12 consecutive months of year-over-year gains in this forward-looking market indicator, and hints at continued strength across the housing market of Massachusetts. Pending single-family home sales grew 6.3 percent in May compared to the same month a year ago.

The median sales price on those contracts ($420,000) was 3.7 percent higher on an annual basis as well. Pending condo sales also grew statewide last month, but at a slower rate of 2.4 percent.

The median price of those under-contract condos rose faster, to $415,000, a year-over-year increase of 7.5 percent. “Once again, we saw the historically low number of homes for sale push median prices up,” said Anne Meczywor, president of MAR, in a news release on the pending sales data. Low supply and strong demand has been cited as a key contributor to rapid home price growth over the last several years.

MAR’s pending sales report also polled Realtors on questions related to future price expectations, sales prospects and client sentiment. According to responses from MAR members, most

McDevitt Real Estate Closing Attorney Services - Real Estate Law Massachusetts

Have a question about Real Estate Law or need a closing attorney?  Fill out the form below or call us at 617-282-7550.

We are conveniently located in Hingham and Milton, Massachusetts.

  Contact a McDevitt Law Group Real Estate Attorney today!


Article From: "Andrew Morrell"   Read full article

lawyers for real estate, Boston Massachusetts, arrow icon

McDevitt Law Group

Massachusetts Real Estate Attorneys
•   •   •

McDevitt Law Group strives to provide the highest quality real estate law and estate planning services, and we have for almost 40 years. As a small law firm, we pride ourselves on providing personal attention to your case and providing the highest quality representation. Call us today, or use the contact form below.

Barnstable County | Bristol County | Duke County | Essex County | Middlesex County | Nantucket County | Norfolk County | Plymouth County | Suffolk County

Just click on the Phone Number to dial on your phone:



lawyers for real estate, Boston

Pin It on Pinterest