WALTHAM — Continued mild winter weather in January allowed for a more active than usual real-estate market last month, as pending home sales increased nearly 40 percent from the same month last year, according to the Massachusetts Association of Realtors.
MAR reported that 3,914 single-family homes came under agreement last month, up 39.7 percent from the January 2015 total of 2,802.
The median agreed-upon price for homes that came under agreement last month was $330,000, up 0.1 percent from the January 2015 median of $329,700.
Interest in condominiums in the state was nearly as strong.
MAR reported that 1,480 condos came under agreement in Massachusetts last month, up 34.2 percent from the year-ago total of 1,103.
The median agreed-upon price for homes that came under agreement last month was $309,438, down 0.8 percent from the January 2015 median of $311,860.
For both single-family homes and condominiums, pending sales have risen on a year-over-year basis in 34 of the last 35 months.
“Buyers were again out in force in January, and were able to take advantage of the mild weather to see homes and make a high number of offers that were accepted in January,” said MAR President Annie Blatz, branch executive at Kinlin Grover Real Estate on Cape Cod, in a statement. “A still improving economy and an increase in first-time homebuyers in Massachusetts added to the buyer demand.”
A “pending sale” occurs when a buyer and seller come to an agreement on a piece of real estate but have not yet closed. Real-estate pros say such statistics provide a good indicator of the market a month or two in the future.