Definition
A property listing status indicating the seller has accepted an offer and a binding agreement exists, though the sale may not yet be finalized. Under contract is similar to pending.
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Under contract status indicates that an agreement has been reached between buyer and seller, though the sale may not yet be finalized. The property may be contingent on inspection, appraisal, or financing contingencies being satisfied. If contingencies are not met, the property can return to active status.
Pro Tip
Some agents prefer 'under contract' to indicate contingencies are pending, while 'pending' means contingencies are satisfied.
Example
The home went under contract on Day 3 of the listing after a competitive bidding process involving three buyers.