Pending home sales up slightly over Jan. 2013
Pending single-family home sales rose for the 11th consecutive month in January, according to the state’s Realtors’ group.
The Massachusetts Association of Realtors (MAR) said the number of homes placed under agreement – indicating they’ll likely be sold in the next two to three months – increased 1.4 percent from 3,107 in January 2013 to 3,151 last month. Meanwhile, the number of condominiums placed under agreement increased 9.8 percent, from 1,294 to 1,421.
MAR said the pending home and condo sales figures were its highest January readings since 2007.
“With demand still strong, homebuyers took advantage of dropping interest rates through the month to push pending homes sales higher in January, MAR president Peter Ruffini said in a statement. “The combination of improved home equity and low interest rates have created a good opportunity for sellers to get back in the market.”
Pending home sales increased 12.2 percent from December, while pending condo sales jumped 36 percent.
The median January sales price for a single-family home was up 14.3 percent to $320,000, while the median condo price rose 20 percent to $300,000.
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