Despite increases in median prices, pending sales of both single-family homes and condos in Massachusetts jumped sharply in August compared with the same month in 2018, according to the Massachusetts Association of Realtors, which tracked closed deals.
The number of pending single-family sales was up 9.9 percent, to 5,519, while the number of pending condo sales was up 8.8 percent, to 1,920. That single-family sales increase represented the 12th consecutive annual monthly bounce, the association said. Condo sales have been up or flat nine out of the past 12 months.
The pending sales jumps came despite rising prices. The median single-family price increased 2.8 percent annually, to $430,000, and the median condo price increased 3.1 percent, to $400,000. (These sums, of course, are vastly different than those for just downtown Boston—see here for the latest stats on those condos and houses.)
“It continued to be demand, demand, and demand that pushed accepted offers over $400,000 for homes in August,” said Anne Meczywor, president of the Massachusetts Association of Realtors and a broker at Roberts & Associates Realty in Lenox. “As a result, we’re seeing affordability going down and that’s something that will keep many potential buyers only potential buyers.”