Yesterday the Massachusetts Association of Realtors released pending home sales numbers for March 2011. Looking at the month over month from February to March, the number of single-family homes put under agreement was up 40% and the number of pending condo sales was up 45%.
On an annual basis, pending sales for single-family homes were down 16% compared to March 2010 and condos were down 22% as compared to last year.
It’s tough to interpret what these numbers really mean in terms of trying to gauge the upcoming (or really current) spring market. For starters, February was sort of a dead-zone for buyers and sellers since noone wanted to leave their igloos in the record snowfall! More importantly, this time last year we saw crazy amounts of buyers take advantage of the home buyer tax credit.
So what’s more interesting to me is if you look at March 2009 numbers when 3,783 homes and 1,543 condos were put under agreement. In comparison, this year 4,023 and 1,649 condos went pending in March. The numbers are much different without the tax credit skewing things and the phones have been ringing like crazy at Barrett. Seems like folks are out of hibernation and I can’t wait to see what the next report looks like, believe it or not sellers, this could be a really good time to get your house on the market!
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"Arlington ...
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Get to know Jacob Clayton (155 Posts)Hi, I'm Jake...and that's my dog! By day I'm founder and Chief Geek at MyUntangled Media, LLC and Executive Director of Business Development at Barrett & Company Real Estate . By night I am part struggling musician, frustrated writer, wanna-be chef and obsessed dog owner. I started this site mainly to learn WordPress, work on my design and writing skills, and showcase some folks with all kinds of talents and great stuff to say. (Read the long version if you dare) and please introduce yourself over on my Google+ Profile!
