Pending sale home prices for condos, single-families rise again
The number of homes in Massachusetts that went under agreement in the month of October was up 9 percent over last October.
The number of homes in Massachusetts that went under agreement in the month of October was up 9 percent over last year, the Massachusetts Association of Realtors reported Wednesday, marking a full year of year-over-year increases.
Pending sales of condos, however, were down 5.3 percent.
Prices for both were up: The median price for pending single-family home purchases increased 5.4 percent to $390,000, and the cost for condos rose 4.1 percent to $353,000, according to the report.
“Prices remain close to that $400,000 mark despite the usual cooling off from the summer market,” said Rita Coffey, association president and general manager of Century 21 Tullish & Clancy in Weymouth. “Confidence in the market and home prices are still positive but waning most likely because of the uptick in interest rates and the ongoing dwindling inventory. However, buyers have demonstrated that the demand is still there.”
But how has open house attendance been this fall?
The association surveyed its members, and of those who responded, 41 percent reported that open house attendance has been either weaker than usual (35 percent) or the weakest they’ve seen for the season (7 percent). Thirty-six percent said attendance has been about the same, and for 13 percent, the season has been busier than usual.
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