This Northeast housing market is seeing a fall bump

Pending homes sales are on the rise in Massachusetts and so are the number of potential homebuyers viewing available homes

This Northeast housing market is seeing a fall bump
Pending homes sales are on the rise in Massachusetts and so are the number of potential homebuyers viewing available homes.

Figures from the Massachusetts Association of Realtors show a 2.5% rise in pending single-family home sales (5,181) in October from a year earlier and a 4.5% rise in the median price to $395,900.

Condos are also gaining with pending sales up 2.2% to 1,895 and the median price rising 1.2% to $349,900.

“It again is clear that buyer demand has not slowed since this summer, despite prices steadily hovering near $400,000,” said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway. “We will have to see if the consistent rising of pending sales will continue into the winter and the new year.”

Realtors in the state are seeing mixed activity though with 30% saying this fall is busier than usual in terms of open house attendance, 30% seeing no change and 21% saying it is quieter.

The rising prices in the market are a concern for real estate agents.

“Realtors are still confident in the market this fall because buyers are still making offers,” said Yorkis. “However, there is some trepidation about prices remaining this high into the winter.”

LATEST NEWS