Pending Homes Sales Up Again
The Massachusetts Association of Realtors (MAR) reported this week that pending home sales were up again for the 19th straight month for single family homes and condos on a year-over-year bases.
Pending sales for single family homes were up 28.20% in November 2012, as
compared to November 2011. In November 2012, 3,866 homes were put under
agreement, as opposed to 3,016 homes in November 2011. On a month to month
basis, pending sales decreased 11.00% as compared to October 2012.
The number of condos put under agreement reached 1,438 units, up 28.50% as compared to November 2011. This is the 10th straight month of year-over-year increases of more than 25%. On a month to month basis, pending sales decreased 14.00% from October 2012.
Trisha McCarthy, 2012 MAR President and broker at Keller Williams Realty in Newburyport said “In spite of the election in early November and continual talk
since then of the ‘fiscal cliff’, buyers maintained optimism and continued
making offers to purchase homes. We are encouraging our members and all
homeowners to ask Congress to keep the Mortgage Interest Deduction intact, so
that the housing recovery can continue at this healthy pace.”
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According to the Freddie Mac survey, average mortgage rates decreased for the week ending Thursday, December 13, 2012. The average 30 year mortgage decreased from 3.34% to 3.32% and the average 15 year mortgage increased from 2.67% to 2.66%.
Mortgage rates one year ago were 3.94% and 3.21% for the 30-year and 15-year fixed mortgages.
Snapshot of the Malden Real Estate Market
Source: MLS Property Information NetworkSingle Family Condos Multi Family # of Listings: 46 34 14 Avg. Liv.Area SqFt: 1,723.35 1,072.62 2,368.43 Avg. List$: $311,309 $205,350 $375,029 Avg. List$/SqFt: $196 $209 $164 Avg. Days on Market: 70.96 86.29 324.79
Paul Weston is Broker/Owner of Paul Weston Real Estate, a full service Real Estate Office serving Malden and the Greater Boston area.
Follow me on Twitter: @PH_Weston
Website, including contact information: www.liveinmalden.com