“While sales and inventory continue to frustrate buyers who can’t get a toehold in the market in hot communities, the increase in pending sales indicates a strong September and more opportunity as more sellers put their homes on the market in the next month or so,” says Linda O’Koniewski, CEO of RE/MAX Leading Edge. “I expect Greater Boston in particular to experience a strong Fall market as consumers return with a renewed gusto to find a home. Sellers are serious about preparing their homes for sale, giving buyers a chance to get back into the game before interest rates potentially increase.”
In August, sales of combined condo and single-family homes in Massachusetts decreased -3.6% year-over- year and pending sales are up +51.5%. Inventory remains down -21% year-over-year and prices are up +3.2%.