Pending sales stats for Boston Downtown condos in 2023

Pending sales stats for Boston Downtown condos

March pending-home sales slid 5.2% from February as housing inventory continued to fall short of homebuyer demand, the National Association of REALTORS® reported.

Year over year, pending sales were down 23.2%, NAR said, citing its Pending Home Sales Index.

“Multiple offers are still occurring on about a third of all listings, and 28% of homes are selling above list price,” NAR Chief Economist Lawrence Yun said in a press release. “Sales in the second half of the year should be notably better than the first half as job gains continue, and more favorable mortgage rates are expected. Sales of new homes are already matching 2019 pre-COVID activity and are expected to increase in 2023, largely due to plentiful inventory in this segment of the market.”

Pending sales, in which the contract has been signed but the transaction has not closed, are considered a leading indicator and generally precede existing-home sales by a month or two.

With continued improvements in employment and declining interest rates, NAR expects existing-home sales to increase in the coming months but still decline year over year. Specifically, existing-home sales will slide 9.3% on a year over year basis to 4.56 million in 2023 and rise 15.4% to 5.26 million in 2024. New-home sales are expected to increase 4.5% to 670,000 this year and rise another 11.9% next year to 750,000.

Compared to last year, NAR forecasts that the national median existing-home price will decline by 1.8% to $379,600 in 2023 and rise by 2.8% to $390,000 in 2024. The median new-home price is expected to slide 1.9% to $449,100 in 2023, followed by an improvement of 4.2% to $468,000 in 2024.

Regionally, pending home sales declined 8.1% month over month in the Northeast, 10.7% in the Midwest and 8% in the West. It ticked 0.2% higher in the South.

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Report Run: 12/5/2018 10:53:24 AM
Property Type(s): CC
Start Date: 11/5/2018
End Date: 12/5/2018

Boston Neighborhoods include:

Towns: Boston-Back Bay, Boston-Bay Village, Boston-Beacon Hill, Boston-Charlestown, Boston-Charlestown’s Navy Yard, Boston-Charlestown’s Sullivan Square, Boston-Chinatown, Boston-Faneuil , Boston-Financial District, Boston-Kenmore Square , Boston-Leather District, Boston-Midtown, Boston-North End, Boston-Seaport District, Boston-South Boston, Boston-South Boston’s Castle Island, Boston-South Boston’s City Point, Boston-South Boston’s Dorchester Heights, Boston-South End, Boston-The Fenway, Boston-Theatre District, Boston-Waterfront, Boston-West End, Boston-South Boston’s Andrew Square

Went Pending

Current Status

Price Range

# of
Listings

# UAG

#CTG

# Sold

# Other

Under $50,000

–

–

–

–

–

$50,000 – $99,999

–

–

–

–

–

$100,000 – $149,999

–

–

–

–

–

$150,000 – $199,999

–

–

–

–

–

$200,000 – $249,999

–

–

–

–

–

$250,000 – $299,999

–

–

–

–

–

$300,000 – $349,999

2

1

1

–

–

$350,000 – $399,999

3

2

1

–

–

$400,000 – $449,999

3

3

–

–

–

$450,000 – $499,999

8

5

2

1

–

$500,000 – $599,999

21

11

4

4

2

$600,000 – $699,999

16

11

4

1

–

$700,000 – $799,999

22

12

6

3

1

$800,000 – $899,999

10

7

2

1

–

$900,000 – $999,999

13

10

1

–

2

$1,000,000 – $1,499,999

31

26

4

1

–

$1,500,000 – $1,999,999

10

8

2

–

–

$2,000,000 – $2,499,999

8

3

3

2

–

$2,500,000 – $2,999,999

7

7

–

–

–

$3,000,000 – $3,999,999

4

2

2

–

–

$4,000,000 – $4,999,999

3

3

–

–

–

$5,000,000 – $9,999,999

1

1

–

–

–

Over $10,000,000

–

–

–

–

–

Total Properties

162

112

32

13

5

Lowest Price: $345,000	Median Price: $862,000
Highest Price: $5,000,000	Average Price: $1,197,914
Total Market Volume: $194,062,080

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