|Closed Sales||Percent Increase
||Median Sales Price Growth||Median Price||Percent Increase|
|1. Raynham||+333.3%||1. Chatham||$1,237,250||+ 78.6%|
|2. Foxborough||+166.7%||2. Norwell||$710,000||+ 71.8%|
|3. Rutland, Dalton||+160.0%||3. Grafton||$430,000||+ 54.7%|
|4. Pepperill, Wayland, Marion||+150.0%||4. Dalton||$205,900||+ 52.6%|
|5. Winchester||+137.5%||5. Orleans||$758,000||+ 50.8%|
|6. Middleborough, Orleans||+116.7%||6. Bedford||$932,500||+ 43.6%|
|7. Newburyport||+109.1%||7. Kingston||$381,500||+ 42.0%|
|8. Becket, Everett||+100.0%||8. Amesbury||$415,000||+ 38.6%|
|9. Upton, Templeton||+83.3%||9. Swansea||$330,000||+ 38.1%|
|10. Fitchburg||+81.8%||10. North Reading||$605,000||+ 32.7%|
*A minimum of ten homes must have been sold in each town during October 2015 to make this list.
All data used in the rankings is compiled from the Berkshire County Multiple Listing Service, Cape Cod & Islands Association of REALTORS®, Inc. and MLS Property Information Network, Inc.
These articles and posts resulted in the release of our October 2015 Closed Sales Release. We’ll continue to update this post as more articles come in.
Tuesday, November 24, 2015
Mass. home sales surge for fifth straight month
Worcester County single-family home sales on rise
Mass. single-family home sales up in October
Milford Daily News
Wednesday, November 25, 2015
Home buyers stayed active this fall as closed home sales went up in October close to eight percent compared to October 2014. This is the fifth straight month of year-over-year increases in single-family home sales. Prices for both single-family homes and condominiums closed up, while condominium closed sales dipped in October for the first time in four months.
Learn more in the full October 2015 Closed Sales Release.
Highlights from the release:
- October single-family home sales up 7.8% over last year. (4,777 sales in 2015 from 4,431 sales in October 2014)
- October single-family median prices went up 3.1% year-over-year (to $335,000 in 2015 from $325,000 in October 2014)
- October condo sales went down -2.3% and median prices went up 5.3% (to $316,000)
- Inventory in October went down -16.7% to 21,259 and condominiums available down -17.1% to 5,200
- SF listings added to the market in September went up 6.5% over last year. (6,489 from 6,091 in 2014)
- Condo listings added to the market went up 1.2% over last year. (2,272 from 2,245 in 2014)
Today marks the last day of formal sessions in 2015 for the Massachusetts General Court. As we prepare for the session to reconvene in 2016 here are some updates on the issues the MAR Government Affairs team has been working on.
Land Use and Zoning
Due to the short supply of housing in Massachusetts, potential homeowners continue to face increasing housing costs. One of the many issues driving the reduced housing stock is the presence of barriers to production resulting from current zoning laws. The Massachusetts Association of REALTORS® in conjunction with the Greater Boston Real Estate Board has filed legislation addressing these barriers. Several of the provisions include easing the production of cluster development housing; allowing in-law apartments by right; allowing multifamily housing construction by right; simplifying the dimensional variance burden and; approving special permits by a majority vote.
On October 19th MAR Government Affairs Staff and REALTOR® members testified before the Joint Committee on Small Business and Community Development on S119 An Act improving housing opportunities and the Massachusetts economy (The H.O.M.E. Bill). Our membership provided examples of how zoning laws impact the development of real estate in Massachusetts.
Mortgage Forgiveness Debt Relief
The general tax rule that applies to debt forgiven treats the amount forgiven, sometimes referred to as phantom income, as taxable income to the borrower. Proposed legislation would allow homeowners to complete loan modifications, short sales and foreclosures for which they have debt forgiven without making them liable to pay state taxes on that debt. This would mirror the federal law, the Mortgage Debt Relief Act of 2007, to allow taxpayers to apply for this exclusion on their state tax return.
This fall, the Joint Committee on Revenue gave the bill a favorable report and it advanced to the House Committee on Ways & Means. MAR testified before the committee on the importance of this tax provision and is continuing to work with the committee on the details of the proposal.
Scrap Metal Theft
The problem of copper pipe and wiring theft is widespread in cities and towns across the Commonwealth. Homes in every corner of the state have become targets for metal thieves who strip the metal from the home and sell it to scrap metal dealers. Homes that have been robbed of plumbing and wiring are a community problem, hurting home values in neighborhoods in which thefts occur. Further, the stripping of metal piping and other fixtures from the structure likely makes the home ineligible for conventional mortgage financing. MAR supports the regulation of the secondary metals dealing to dissuade thieves from stealing plumbing and wiring from homes.
On October 14th the House of Representatives unanimously passed An Act regulating secondary metals dealings. MAR Staff was joined by REALTOR® members to testify before the Joint Committee on Consumer Protection & Professional Licensure and requested that the committee advance the bill quickly. Shortly thereafter the committee reported the legislation favorably. The bill now awaits action by the Senate.
MAR continues to work with interested parties on increasing energy efficiency in Massachusetts and therefore reducing utility costs to homeowners. Some proposals, however, attempt to reach this goal without concern for property rights or impacts on the Massachusetts housing economy. One bill would require sellers or their agents to perform a Mass Save energy audit prior to listing a home for sale and disclose to any prospective buyer the information in the energy audit at the time of the listing. Additionally, the bill commissions the design and implementation of an energy scoring and labeling system. Over and above having an enormous impact on an individual’s right to freely transfer land, such requirements would negatively affect the real estate industry in the Commonwealth. Massachusetts is home to some of the oldest housing stocks in the country and mandatory energy scoring of such older homes would significantly stigmatize and potentially devalue an individual’s largest investment.
MAR testified in opposition to the bill in June. MAR has met with the Chairs of the Energy Efficiency Advisory Committee and continues to work with them on this issue. The bill remains in committee at this time.
(Please note: This blog post was prepared by MAR Legal Staff: Michael McDonagh, General Counsel; Ashley Stolba, Associate Counsel; Justin Davidson, Legislative & Regulatory Counsel; and Christine Howe, Public Policy and Finance Coordinator)