Based on numbers from the Massachusetts Association of Realtors (MAR), the Worcester Business Journal reported that the number of single-family homes and condominiums that were placed under a sales agreement rose in May. That's the 13th month that sales activity has gone up in state real estate.
The MAR states that pending sales are a leading indicator of "actual housing sales, and that the number of homes placed under agreement surpassed the 5,000 mark for the first time since the organization began tracking the data in January 2009," according to the WBJ.
In Northborough, the statistics surpass the state average, according to local realtor Judy Boyle, who works for ReMax. Out of the 124 single family homes currently for sale in Northborough, 42 percent of those are "pending." There are also 48 condos on the market in town. And of this, said Boyle, 18 units—or 38 pecent—are pending.
"These numbers are increasing on a daily basis, especially for the homes that are well-maintained and priced correctly," said Boyle. "One Northborough family, for example, enjoyed selling their home without ever having to list it. I am seeing these things happen for the first time in years and it is very exciting. While the prices have not yet begun to increase, as the supply is depleted, sellers will once again see their property values rise."