Showing Off Spencer-Discovering Spencer, the Brookfields, Worcester County, Massachusetts and New England: March Home Sale Up in Massachusetts

March Home Sale Up in Massachusetts


Pending Home Sales Has Record in March
home sold


The number of single-family homes put under agreement in March had the biggest month-to-month jump since the Association began tracking pending sales in 2008. The number of condominiums put under agreement had its second largest increase ever from the month before.

According  to the Massachusetts Association of Realtors- homes sales hit record highs for the most increase of sales from the month before.  What does this mean?  You may remember that February sales were down another 10%.  March's increase could just be pent up activity.  People held off making the decision in February and just deferred it to March.

January and February in Massachusetts were very snowy months.  We had record amounts of snow, that stay between storms.  We also had back to back storms.  In some areas we had close to 4ft. of snow.  With such high number of REO/foreclosed properties, and abandoned short sales, these houses were not cleared by snow and therefore not accessible.

This could also be a reflection of renewed confidence in the market.  We have had slightly stronger retail months, unemployment has held steady or decreased slightly, and economic indicators are seeing slight positive indications.

In Spencer and Worcester county, we have experienced conservatively a 50% increase in pending sales from February to March 2011.

Could our homes sales drought be nearing it's end?

 Pam Crawford

Pam Crawford, ABR,e-PRO®,CRS,CDPE,LMC

Owner, REALTOR®, Managing Partner, MBA, BSBA
RE/MAX Professional Associates

 

phone/fax (508)-784-0503    
e-mail: Pam@PamCrawford.com
www.PamCrawford.com
www.CrawfordRealtyTeam.com

 

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Comment balloon 2 commentsPam Crawford • April 14 2011 05:44AM

Comments

Thanks for the report. Good to read tha there were record sales in March.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) almost 8 years ago

Hi Pam - I believe we bottomed out and are heading towards a more normal market.  Two wild cards - oil and hidden foreclosure market.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) almost 8 years ago

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