Saturday August 1st 2015

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June 2015 Top Ten Towns

The top tens towns across the state experienced high year-over-year sales increases this month, as none dipped below 100%.

 Closed Sales Percent Increase
Median Sales Price Growth Median Price Percent Increase
1. Templeton +233.3% 1. Dennis $570,000 + 81.8%
1. Topsfield +233.3% 2. Dudley $275,000 + 69.4%
2. Danvers +176.9% 3. Wareham $251,450 + 34.5%
3. Sturbridge +150.0% 4. Sutton $456,500 + 34.3%
4. Ayer +128.6% 5. Westfield $273,250 + 30.1%
5. Lunenburg +123.1% 6. Upton $500,000 + 28.9%
6. Rochester +120.0% 7. Swansea $270,450 + 27.6%
6. Middleton +120.0% 8. Ipswich $504,500 + 26.4%
7. Fitchburg +118.2% 9. Hull $340,000 + 25.9%
8. West Boylston +100.0% 10. West Springfield $220,000 + 25.0%

*A minimum of ten homes must have been sold in each town during June 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.

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Wednesday Word – MAR Testifies in Support of First Time Homebuyer Program

justin speaking

On Tuesday July 28, the Massachusetts Association of REALTORS(R) Government Affairs team testified before the Joint Committee on Housing in support of S721 An Act promoting savings for first time homebuyers. This legislation would make a first time homebuyers purchase easier by assisting with the closing costs associated with the purchase.

The bill requires that the Department of Housing and Community Development establish a closing cost assistance program for income-eligible first time homebuyers and issue grants to qualifying homebuyers of up to $2,500. The grants would  assist in paying closing costs and other similar fees. Additionally, the legislation would require the Commissioner of Banks to establish a first-time home-buying program with “first-time home-buying accounts “. The program would allow contributions of up to $4,000 to first-time home-buying accounts. Finally, qualifying distributions to an individual from a first-time home-buying account would not be considered taxable income.

Be sure to check for updates on this bill in the future.

(Please note: This blog post was prepared by MAR Legal Staff: Michael McDonagh, General Counsel; Ashley Stolba, Associate Counsel; and Justin Davidson, Legislative & Regulatory Counsel. Edited by Christine Howe, Public Policy and Finance Coordinator)

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What’s being said in the media: June Closed Sales

 

Here are the articles and posts that resulted in the release of our June 2015 Closed Sales Release. We’ll continue to update this post as more articles come in.

Wednesday, July 29, 2015

June home sales soar in Bay State: Could mean a ‘big year’
Boston Herald

Mass. Realtors report growth in closed home sales
Morning Brief – Mortgage Professionals of America

Tuesday, July 28, 2015

Rising inventory lifts home sales 11.4% in June
Boston Globe

Massachusetts Home Sales Surge in June 2015, Prices Up Modestly
Boston Home Buyer Education Blog – Boston.com

Massachusetts homes sales soar last month for best June in a decade
Fox Business News (via Associated Press)

Active Spring Market Pushed Massachusetts Closed Home Sales Up in June
RealEstateRama Blog

Massachusetts home sales in June hit highest level in 10 years
State House News Service

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Active Spring Market Pushed Massachusetts Closed Home Sales Up in June

The Massachusetts Association of REALTORS® (MAR) reported today that ongoing buyer activity in the spring pushed single-family home sales up in June by nine percent compared to the same time last year. The median price of single family homes was also up for the eighth time in nine months. New listings added to the market were up almost 12 percent over last year. Condominium closed sales were up, but median prices were down slightly.

June 2015 Closed Sales Release

Video Podcast with MAR President Corinne Fitzgerald

Highlights from the release:

  • June single-family home sales up 9.1% over last year. (6,208 sales in 2015 from 5,692 sales in June 2014)
  • June single-family median prices went up year-over-year (to $375,000 in 2015 from $364,900 in June 2014)
  • June condo sales up 10.5% and median prices down -0.6% ($330,000)
  • Inventory in June down -17.2% to 21,621 and condominiums available down -23.8% to 5,028
  • SF listings added to the market in June up 11.6% over last year. (9,417 from 8,439 in 2014)
  • Condo listings added to the market UP 11.3% over last year. (3,004 from 2,98 in 2014)

SFjune CCjune

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The Wednesday Word: Call for Action – Stop Patent Trolls!

REALTORcalltoaction

This week the U.S. House of Representatives is scheduled to vote on H.R. 9 – The Innovation Act of 2015, which would increase protections to the real estate industry from frivolous lawsuits brought by patent trolls. This important legislation would close loopholes in our legal system that currently allow Patent Trolls to target REALTORS® for using common business technologies like dropdown menus, search functions on websites, or scan-to-email technologies found in every office scanner.

On Monday, July 12th, the National Association of REALTORS® launched a Call for Action and is asking all REALTORS® to contact their Members of Congress and urge them to support H.R. 9 – The Innovation Act.

If you have not yet responded to this CFA, please visit the Call for Action webpage to do so. As of today, over 1,350 of our members have contacted their Member of Congress to urge them to support this legislation. For up to date response rates, please visit the Realtor Action Center.

To learn more about Patent Trolls, please watch this brief video. You can also visit  the Patent Page on NAR’s website. Please also read the letter that was sent to the Massachusetts delegation on behalf of the Massachusetts Association of REALTORS®.

Contact your U.S. Representative and urge them to support H.R. 9, the Innovation Act

(Please note: This blog post was prepared by MAR Legal Staff: Michael McDonagh, General Counsel; Ashley Stolba, Associate Counsel; and Justin Davidson, Legislative & Regulatory Counsel. Edited by Christine Howe, Public Policy and Finance Coordinator)

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What’s being said in the media: June 2015 Future Indicators Report

Breaking News

Here are the articles and posts that resulted in the release of our June 2015 Future Indicators Report. We’ll continue to update this post as more articles come in.

Tuesday, July 14, 2015

Massachusetts Closed Home Sales and Median Sales Price Down in May
RealEstateRama

Wednesday July 15, 2015

Morning Briefing: Mass. realtors set for active summer
Mortgage Professional America

Sunday July 19, 2015

Mass. pending home sales see big gains in June
The Lowell Sun

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