March 13, 2019

Median sale price in Feb. home sale agreements: $375,950

The number of single-family home sale agreements reached in February rose 11 percent compared to last year, marking a full year of monthly increases in pending sales, according to numbers released Wednesday.

The median sale price for a pending single-family home sale rose 7 percent since last February to $375,950, according to the Massachusetts Association of Realtors. The median sale price for a pending condo sale dropped 3 percent to $349,000.

"The demand in February for single-family homes and condominiums continued to be strong," association president Anne Meczywor said. "This is only one month, and we'd need to see more to be certain but an increase in affordable condominiums coming on the market and selling, could be the reason prices are ticking down."

Condo sale agreements struck between sellers and buyers in February were up 4.5 percent over the year.

At 75 and 76 on a 100-point scale, the association's price and market confidence indexes remained strong, but were down 10.7 percent and 12.9 percent, respectively, from a year ago. Association members "have enough questions around politics in Washington D.C., fluctuating interest rates, and the ongoing inventory issues that their confidence in the market isn't where it once was," Meczywor said.

Sixty-four percent of respondents to the association's monthly "hot topic" question said they were seeing controllable, internet-connected "smart home" devices in some of their real estate listings.

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