Media Contact: Eric Berman - 781-839-5507 -

June Pending Median Price for Single-Family Homes Rises to Highest Level Since 2004

by Eric Berman - - 781-839-5507 | Jul 11, 2018

Pending sales also on the rise over this time last year 


WALTHAM, Mass. – July 11, 2018 – The Massachusetts Association of Realtors® (MAR) reported today that the number of single-family homes and condominiums put under agreement in the month of June increased over last year while median prices also saw a hike year-over-year. At $430,000, the pending median price for a single-family home rose over the $400,000 mark for second time in 2018.  This is the highest median pending sales price for single-family homes since MAR began recording the data in 2004. June's Hot Topic' question found that a majority of Realtors® have not worked with international buyers or sellers in the past 12 months.  

June Pending Sales: 


June 2018

June 2017

% Change





Median Price




  • Pending sales have been up or flat 11 of the last 12 months 


June 2018

June 2017

% Change





Median Price




  • Pending sales have been up or flat 10 of the last 12 months 

"That pending sales are continuing to rise year-over-year despite record-breaking prices is a testament to the fact that people want to live and work in Massachusetts," said 2018 MAR President Rita Coffey, general manager of CENTURY 21 Tullish & Clancy in Weymouth. "However, we still need more inventory to ensure that more people are able to afford to do so."   

Realtor® Market and Price Confidence Indexes: 

Confidence Index

June 2018

June 2017










  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition     

“Realtors® remain confident in the market because the buyer demand is there,” said Coffey. "Yet, our members who responded to the survey are also concerned about prices going up to all-time highs and the ability of buyers to sustain them." 

Monthly ‘Hot Topic’ Question: 

The June “Hot Topic” question asked Realtors® if they had worked with international buyers and sellers in the past 12 months. Of those who responded, a majority (86%) said that they have not worked with international clients in the past year. Of the 14 percent who responded that they had worked with international buyers or sellers recently, the majority (82%) said that just one or two transactions in the past year came internationally.  

"Despite the growing interest in global real estate, the reality is that the majority of Realtors® are still working with locally-based clients," said Coffey. "As the Massachusetts economy continues to grow and more people are interested in living here, it is likely we'll see more agents expanding their business with clients who come from outside of the United States."  

About the Data Sets: 

The tracking of signed purchase and sales agreements (also called “pending sales”) provide reliable information about where the real estate market is heading in coming months. 

A pending sale or a sale “under agreement” happens when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such.  MAR is the only organization, which compiles this statewide information from Multiple Listing Services each month. 

 Monthly pending (or under agreement) data and closed sales data comes from the three REALTOR®-affiliated Multiple Listing Services in Massachusetts. They are the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS® Multiple Listing Service, Inc.; and MLS Property Information Network, Inc. The data is compiled by 10K Research and Marketing, Inc. and updated each month. As a result, previous data may change after the reports have been run. 

The REALTOR® Index Methodology - The Massachusetts REALTOR® Market Confidence Index (RMCI) and Price Confidence Index (RPCI) are based on monthly responses from a random sampling of Massachusetts Association of REALTORS® members on the state of the housing market.  More specifically, the survey asks members two basic questions pertaining to the real estate business in their market area in Massachusetts. 

  • How would you describe the current housing market? 

  • What are your expectations of home prices over the next year? 

In addition to these standard questions, the survey each month includes one wildcard question that changes each month and is based on an industry hot topic. 

The RMCI is calculated in the following way.  Respondents indicate whether conditions are, or are expected to be “strong” (100 points), “moderate” (50 points), and “weak” (0 points).  The results are the average score for each question.  A score of 50 is the threshold between a “strong” and a “weak” condition.  Similarly, the question about home prices over the next year (REALTOR® Price Confidence Index) is calculated using five categories: “Rise 0-5%” (75 points), “Rise 5%+” (100 points), “Level” (50 points), “Fall 0-5%” (25 points), and “Fall >5%” (0 points). 

About the Massachusetts Association of Realtors®: 

Organized in 1924, the Massachusetts Association of Realtors® is a professional trade organization with more than 24,000+ members.  The term Realtor® is registered as the exclusive designation of members of the National Association of Realtors® who subscribe to a strict code of ethics and enjoy continuing education programs. 




Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook.