It seems rather repetitive but nonetheless must be shared and for a great reason. Pending home sales are once again doing exceptionally well in September just as they have done thus far throughout 2012. A month ago we learned of the final numbers coming from August. We reported in a past blog that August had 5,118 single-family home sales and this was up 20% from August of 2011. Now for condominiums, they also went up with a total of 2,432 sales in August, up 40% when looking at year-over-year statistics.
For September, the optimism only continues. According to the Massachusetts Association of Realtors, for the 17th month in a row pending sales for single-family homes increased over the same corresponding month from a year ago in 2011. Trisha McCarthy, the President of MAR stated, Septembers strong activity increases the likelihood that there will be several more months of positive sales growth heading into the New Year. While the numbers decreased on a month-to-month basis, the year-over-year increases over the last 10 months continue to be at least 25 percent or higher. This is further evidence of a healthier market.
Although less than Augusts sales, September still saw 4,091 signed purchase and sale agreements which out performed September of 2011s 3,245 by 26%. Condominiums under agreement reached 1,570 which is up from a year ago in September which had 1,058 put under agreement; an improved difference of 48%. This only leaves us at Gibson Sothebys International Realty looking to a prosperous future for the Real Estate market just that much more. It will be interesting to see for how long these year-over-year increases can continue every month, but it is evidently a strong indicator as to the direction we are headed in.
More Information: Boston Business Journal