This chart shows how many sales went pending in Essex County, MA this week. The number of pending home sales measures impending closing activity, and it reflects how many Purchase & Sale (P&S) Agreements are awaiting settlement. Sale pending means the Seller has already accepted an Offer from a Buyer and that most contingencies have been removed. This is different from contingent status, and though the deal hasn’t closed yet, it is moving toward a successful closing.

Pending sales is a leading indicator of homebuyer momentum. Also called “Under Contract” in some markets, pending sales counts how many properties have accepted an Offer on track. Pending sales often reveal what listing price enticed the Buyer to make an Offer. Pending sales also reflect the date when a home has been effectively taken off the market, since it can take around 15-45 days for a home to close.

Call us at 978.740.3057 or email portia.green@compass.com to discuss putting this data into action and start a winning gameplan for making your next move.