Massachusetts Real Estate Lawyer Blog
For the fifteenth straight month, the number of single-family homes and condos put under agreement has increased compared to the same month from the previous year according to the Massachusetts Association of Realtors. The pending numbers are a great indicator of actual housing sales for the upcoming two to three months.
A realty broker in Newburyport said, “With another pending sales increase in July, our confidence that the market is getting closer to recovery also increases. The significant boost in homes put under agreement compared to last year means closed sales should continue to remain positive through the fall.”
The number of single-family homes under agreement in July is 4, 694, which is 33.6 percent higher than last year’s number of 3,514 for the same month. The number of condos put under agreement is 1,752, which is up thirty percent compared to July of last year at 1,349 units. However, this figure is down 11.8 percent from June of this year.
A pending sale, or sale under agreement, is when the buyer and seller agree on the terms of the sale and have signed the purchase and sale agreement, but have not closed on the house or recorded the new deed.
If you are looking to purchase or sell real estate, feel free to contact Pulgini & Norton, LLP at (781) 843-2200 or (888) 344-2046, or email us with any questions you may have. Our attorneys offer nearly 40 years of combined legal experience and provide thorough, timely, and results-driven service in many aspects of both residential and commercial real estate.
Cited Sources:
Pending sales of homes, condos up in Mass., boston.com, August 14,2012