laer realty partners mid-year ma housing report
DESCRIPTION
This report is a snapshot of the Massachusetts Single Family housing market from January 2015-June 2015, including a detailed comparison of the mid-year numbers for 2014.TRANSCRIPT
1 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
LAER Realty Partners
2015 Mid-Year Massachusetts
Housing Report
Single Family Homes
2 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
State of the Market
From The Desk of The Founders
The very last bit of snow just recently melted in Boston, more than three months after the official end of
winter. With one of the most difficult starts to a year in recent history, we are cautiously optimistic to
report that the real estate market is strong for first half of 2015. As of the end of June 2015, the year-
over-year closed single family sales for the Commonwealth of Massachusetts (according to MLS) is
19,800 units, approximately 400 units more than the same time period in 2014. Total single family sales
volume is also rising from $8.37B to $8.7B as inventory shortages are creating bidding wars and pricing
increases. Median home prices are up to $340K from the previous year’s $334K and the average single
family sold home price is $440K, up from $427K in the previous year.
Despite the strong increase in unit sales and prices it’s important to note that the average days on
market is still 108 days and there average number of days for an actively listed property to receive an
offer is 67 days. The average list to sell ratio is 98%, but it’s important to note that this number is
calculated based on the last offer price for the property (which is often much lower than the original
offer price).
In short, the great news is that the market is strong. That being said, it’s vitally important for sellers and
real estate agents alike to work together to price properly. As is typical in any market, over-priced
properties tend to sit on the market for months while those priced aggressively sell days after they are
marketed to consumers.
We have included overall single family market data for the state. As well, we have included market data
for some of the larger counties in The Commonwealth. These figures only represent data in MLSPIN, the
largest database of agency listed property in Massachusetts. This data does not include data from LINK
or the Cape and Islands MLS, nor does it include private non-agency sales. Although the data set forth is
not a complete compilation of the 2014 and 2015 Massachusetts real estate history, it’s a broad enough
segment of the market, that we feel it is an accurate representation of what is happening across the
Commonwealth.
For more information or for data specific to your local market please contact a LAER agent at any of our
20 office locations. You can visit our website at www.LAERrealty.com for a list of offices and agents.
Stacey Alcorn Andrew Armata
Co-CEO Co-CEO
3 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
About LAER
LAER Realty Partners is a top ten real estate firm in Massachusetts based on transaction units
and volume closed. There are 350 agents and 20 offices. We are licensed to do business in MA,
NH, CT, NY, RI, and CO. In 2015 LAER Realty Partners will close approximately $1B in sales
volume and 3500 transactions. Office locations in Massachusetts include Andover, Billerica,
Burlington, Chelmsford, Eastham, East Longmeadow, Danvers, Dracut, Groton, Leominster,
Mansfield, Marstons Mills, Martha’s Vineyard, Northborough, North Reading, Norwood,
Waltham, Westborough, Westford, and West Roxbury.
Stacey Alcorn, CEO
LAER Realty Partners
Direct: 978-479-4053
Andrew Armata, CEO
LAER Realty Partners
Direct: 978-479-1794
Press Inquiries:
Peggy Rose
Boston, MA
(617) 835-7673
4 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
LAER Mission
Focus on Great Agents and Great Customers Will Follow
Since the beginning we have focused on providing the best possible opportunity for great real estate
agents to thrive and grow their businesses. By providing each agent with the highest level of support,
technology, and training, it enables them to offer those tools out to our end consumer, home buyers and
sellers, from all around New England. We believe that to be the best in real estate one must devote their
full time energy into the endeavor. We aren’t a firm for just any agent, just dedicated, driven ones that are
passionate about being the best at what they do. The best of the best realize that real estate is a calling
and LAER Realty Partners is the support mechanism that enables them to provide the ultimate
experience for our consumers.
It’s Best to Do One Thing Really, Really Well
Our agents are good at one thing, selling real estate. A percentage of their day is dedicated to learning
new ways to become better at their craft, whether it be negotiating, marketing or prospecting. Some firms
require their agents be involved in short sale negotiating, recruiting other agents and other tasks that take
them away from the core business, real estate. We hire expert staff to handle short sales, mortgage
financing and other niche areas of the business so that our career professionals spend their valuable time
doing what they do best, marketing and selling homes.
Bigger is Better
We started our organization in 2000 with one office in Tyngsboro, Massachusetts. Today we have
fourteen offices spread throughout New England. With more than 350 of the best agents in the world
within our organization, each agent has the opportunity to learn best practices from their sister and
brother agents across our network. As well, when a seller lists their home with LAER Realty Partners
that listing is syndicated immediately to the 350 agents who each have a sphere of influence of more than
200 clients each. That’s exposure to more than 70,000 potential buyers in New England!
Real Estate is a Relationship Business
Every home we sell is just the start of an ongoing relationship with that customer. Searching for and
selecting a dwelling is an intimate process that requires trust and agreement amongst all parties. Your
real estate agent will be your partner long after the transaction closes. When you need information on
local schools, communities and events, it’s your LAER Realty Partner agent who will be there to help
you. When you work with an agent who understands and cherishes the long-term relationship involved,
it makes for a more enjoyable experience all around.
Great Just Isn’t Good Enough
As an organization we see being great at our business of selling homes as a starting point, not an
endpoint. We set ourselves goals that we know we can’t reach yet because we know that by stretching to
meet them we can get further than we expected. Through technology, training, and innovation, we aim to
take things that work well and improve upon them in unexpected ways. Even if you don’t know exactly
what you are looking for in a real estate agent or even a home, finding an answer is our problem, not
yours. We try to anticipate needs not yet articulated by our customers and meet them by raising the
standards for the agents at our firm. We are always looking for new ways to make a difference in the lives
of those we serve - our agents, staff, and clients. Our constant need to be better at everything today than
we were yesterday is the driving force behind everything we do.
5 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
MLS PIN Top 10 Highest Priced Sales 2015
1. 101 Fernwood, Brookline SP $14.5M (LP $18M)
2. 255 Warren Street, Brookline SP $11.8M (LP $14.9M)
3. 130 Commonwealth Ave, Boston SP $11.6M (LP $13.4M)
4. 56 Beacon Street, Boston SP $11.5M (LP $11.9M)
5. 96 Tilipi Run, Chatham SP $8.2M (LP $8.6M)
6. 1 Green Lane, Weston SP $6.8M (LP $6.8M)
7. 77 Corey Lane, Milton SP $5.8M (LP $6.4M)
8. 144 Edmunds Road, Wellesley SP $5.8M (LP $8.9M)
9. 50 Lyman Road, Brookline SP $5.6M (LP $5.5M)
10. 25 Meadowbrook, Weston SP $5.4M (LP $5.6)
These numbers do not constitute listings in LINK or Cape and Islands MLS, nor does this include
private transactions not reported to a listing service.
6 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
All of Massachusetts
MLS Data Jan – June 2015
MLSPIN for SF Homes
7 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
All of Massachusetts
MLS Data Jan – June 2014
MLSPIN for SF Homes
8 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Overview All of Massachusetts
Mid Year – Year Over Year 2014/2015
MLSPIN for SF Homes
January – June 2015
January – June 2014
Total Unit Sales is up by 400 units.
Total sales volume is up to $8.7B from $8.37B
Median Price is up to $340K from $334K
Average price is up to 440K from 427K
Average Days on Market is up to 108 from 104
Average Days to Offer 67 Days from 66 Days
Sales Price to List Price Ratio is steady at 98%
9 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
All of Massachusetts
MLS Data June 2015
MLSPIN for SF Homes
10 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
All of Massachusetts
MLS Data June 2014
MLSPIN for SF Homes
11 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Overview All of Massachusetts
June 2015 vs June 2014
MLSPIN for SF Homes
June 2015
June 2014
Total Unit Sales is up by 700 units
Total sales volume is up to $2.8B from $2.49B
Median Price is up to $375K from $365K
Average price is up to 479K from 467K
Average Days on Market is up down to 82 from 87
Average Days to Offer 48 Days from 51 Days
Sales Price to List Price Ratio increased from 99% to 98%
12 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Suffolk County
MLS Data January- June 2015
MLSPIN for SF Homes
13 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Suffolk County
MLS Data January- June 2014
MLSPIN for SF Homes
14 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Suffolk County Overview
Mid Year – Year Over Year 2014/2015
MLSPIN for SF Homes
January – June 2015
January – June 2014
Total Unit Sales is down by 20 units
Total sales volume is down by $25M
Median Price is up to $425K from $412K
Average price is down to $626K from $652K
Average Days on Market is down to 64 from 68
Average Days to Offer is steady at 40
Sales Price to List Price Ratio is up to 100% from 99%
15 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Suffolk County
MLS Data June 2015
MLSPIN for SF Homes
16 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Suffolk county
MLS Data June 2014
MLSPIN for SF Homes
17 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
.
Suffolk County Overview
June 2015 vs June 2014
MLSPIN for SF Homes
June 2015
June 2014
Total Unit Sales is up by 9 units
Total sales volume is up by $20M
Median Price is up to $475K from $437K
Average price is up to $717K from $615K
Average Days on Market is down to 45 from 46
Average Days to Offer is steady at 25
Sales Price to List Price Ratio is increasing from 100% to 102%
18 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Middlesex County
MLS Data January- June 2015
MLSPIN for SF Homes
19 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Middlesex County
MLS Data January- June 2014
MLSPIN for SF Homes
20 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Middlesex County Overview
Mid Year – Year Over Year 2014/2015
MLSPIN for SF Homes
January – June 2015
January – June 2014
Total Unit Sales is down by 23 units
Total sales volume is up by $150M
Median Price is up to $470K from $445K
Average price is up to $617K from $576K
Average Days on Market is up to 77 from 72
Average Days to Offer is up to 46 from 44
Sales Price to List Price Ratio is up to 100% from 99%
21 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Middlesex County
MLS Data June 2015
MLSPIN for SF Homes
22 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Middlesex County
MLS Data June 2014
MLSPIN for SF Homes
.
23 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Middlesex County Overview
June 2015 vs June 2014
MLSPIN for SF Homes
June 2015
June 2014
Total Unit Sales is up by 150 units
Total sales volume is up by $120M
Median Price is up to $497K from $489K
Average price is up to $646K from $629K
Average Days on Market is down to 56 from 60
Average Days to Offer is down to 30 from 32
Sales Price to List Price Ratio is up to 101% from 100%
24 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Worcester County
MLS Data January- June 2015
MLSPIN for SF Homes
25 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Worcester County
MLS Data January- June 2014
MLSPIN for SF Homes
26 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Worcester County Overview
Mid Year – Year Over Year 2014/2015
MLSPIN for SF Homes
January – June 2015
January – June 2014
Total Unit Sales is up by 57 units
Total sales volume is up by $29M
Median Price is up to $242K from $234K
Average price is up to $279K from $275K
Average Days on Market is down to 125 from 127
Average Days to Offer is down to 77 from 79
Sales Price to List Price Ratio is steady at 97%
27 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Worcester County
MLS Data June 2015
MLSPIN for SF Homes
28 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Worcester County
MLS Data June 2014
MLSPIN for SF Homes
29 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Worcester County Overview
June 2015 vs June 2014
MLSPIN for SF Homes
June 2015
June 2014
Total Unit Sales is up by 131 units
Total sales volume is up by $45M
Median Price is up to $268K from $250K
Average price is up to $306K from $300K
Average Days on Market is down to 97 from 109
Average Days to Offer is down to 56 from 64
Sales Price to List Price Ratio is up to 98% from 97%
30 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Essex County
MLS Data January- June 2015
MLSPIN for SF Homes
31 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Essex County
MLS Data January- June 2014
MLSPIN for SF Homes
32 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Essex County Overview
Mid Year – Year Over Year 2014/2015
MLSPIN for SF Homes
January – June 2015
January – June 2014
Total Unit Sales is down by 8 units
Total sales volume is down by $3M
Median Price is up to $375K from $369K
Average price is up to $441K from $439K
Average Days on Market is up to 100 from 94
Average Days to Offer is up to 59 from 56
Sales Price to List Price Ratio is steady at 98%
33 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Essex County
MLS Data June 2015
MLSPIN for SF Homes
34 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Essex County
MLS Data June 2014
MLSPIN for SF Homes
35 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Essex County Overview
June 2015 vs June 2014
MLSPIN for SF Homes
June 2015
June 2014
Total Unit Sales is up by 48 units
Total sales volume is up by $30M
Median Price is up to $395K from $390K
Average price is up to $470K from $458K
Average Days on Market is steady at 79
Average Days to Offer is down to 43 from 44
Sales Price to List Price Ratio is steady at 98%
36 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Hampden County
MLS Data January- June 2015
MLSPIN for SF Homes
37 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Hampden County
MLS Data January- June 2014
MLSPIN for SF Homes
38 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Hampden County Overview
Mid Year – Year Over Year 2014/2015
MLSPIN for SF Homes
January – June 2015
January – June 2014
Total Unit Sales is up by 156 units
Total sales volume is up by $34M
Median Price is up to $177K from $176K
Average price is up to $200K from $198K
Average Days on Market is up to 129 from 126
Average Days to Offer is down to 85 from 87
Sales Price to List Price Ratio is up to 97% from 96%
39 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Statewide
Went to Pending Jan – June 2015
40 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Statewide
Wen to Pending Jan – June 2014
41 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Went to Pending Overview
Statewide
Mid Year 2015 versus 2014
Jan – June 2015 Pendings
Jan – June 2014 Pendings
Pending units are up 2199 units
Pending Median Price is up by 6K
Pending Average Price is up by 10K
Pending Market Volume is up by $2B
42 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.
Contact Information:
Stacey Alcorn, CEO
LAER Realty Partners
Direct: 978-479-4053
Andrew Armata, CEO
LAER Realty Partners
Direct: 978-479-1794
Press Inquiries:
Peggy Rose
Boston, MA
(617) 835-7673