in the Bay State in November
The successes in the real estate industry continued
throughout the most recently completed month of November. According
to the Massachusetts Association of Realtors, November marked the
ninth consecutive month in a row where there have been a annual
increases in pending home sales. November displayed an 18.6% boost
over the number of homes put under agreement in the Bay State
during November of 2012.
The President of the Massachusetts Association of
Realtors, Kimberly Allard-Moccia, noted that, “Homeowners who put
their houses on the market had a lot to be thankful’ for in
November as buyers continued to make a high number of accepted
offers. The one present that would make buyers very happy during
this holiday season are more homes for sale.”
The number of single-family homes that were under
agreement went up to 3,843 in November, up from the still
significant 3,240 number we realized a year ago. For condominiums,
the number of pending sales was up by 22.3% in November over its
year-ago level from 1,257 in 2012s November to 1,537 this year.
Overall, this resulted in the greatest amount of condominiums put
under agreement during any month since November from 2004.
Median sales prices also performed incredibly well.
Single-family homes were up to $317,000, up 7.5% from November of
2012 when they stood at $295,000. Condominiums saw median prices
rise by 3.5% to $294,835 from last years average of $285,000.
When taking a step back and reflecting on these numbers, it is
with immense optimism that we can look back at November and of
course the rest of 2013 as an overwhelming success in the real
estate industry. All of these triumphs and patterns of growth give
us a great deal of hope for 2014 in the likelihood that such
improvements will only continue.
More Information: Banker &
Tradesman