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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Franklin Spotlight: Leverett
A native of Aurora, Illinois, Priscilla Rojas captained the DePaul Demonettes dance team during her college years, an experience she credits for building her teamwork and leadership skills, while she studied accounting to prepare for a career as an auditor.
IN PERSON
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WEEK OF MONDAY, AUGUST 3, 2020
RESIDENTIAL REAL ESTATE BY THE NUMBERS
COMMERCIAL INTERESTS
600 days
IS BOSTON’S
The grand penthouse in Boston’s Millennium Tower has been on the market for 600 days. See Scott Van Voorhis’ column on this page. Source: MLS PIN
LUXURY BOOM
11,018 square feet
OVER?
The size of the largest home in this week’s Gossip Report. See page 9. Source: The Warren Group
$45 million
As Buyers Look Elsewhere, Inventory Piles Up
The price of the grand penthouse in Boston’s Millennium Tower. See Scott Van Voorhis’ column on this page. Source: MLS PIN
BY SCOTT VAN VOORHIS BANKER & TRADESMAN COLUMNIST
F
or the first time in a generation, the suburbs are hot and the downtown Boston condo market is not. Emblematic of this new and slower sales market is the Grand Penthouse at the Millennium Tower, which, with a whopping $45 million price tag, has sat on the market, unsold, for more than 600 days now. Overall, the number of luxury condominiums languishing on the market has risen sharply, while prices
$225,000 The median single-family sale price in Franklin County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
$9.5 million The sale price of the top home in this week’s Gossip Report. See page 9. Source: The Warren Group
14.09 percent
have fallen as well. Given the coronavirus and the steep economic downturn, it might not seem all thar surprising. Yet it bucks the trends in the suburbs of Greater Boston and other parts of the state. Strong demand from buyers helping push up prices of single-family homes – the dominant type of housing outside the city – at a time when the number of homes on the market is actually shrinking as some sellers get cold feet. The median price of a single-family home in Massachusetts hit a record $440,000 in June, according to The Warren Group, publisher of Banker & Tradesman. Continued on Page 3
The number of single-family sales in Franklin County has dropped 14.09 percent. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
2,000 square feet The size of a World War II lighthouse converted to guest quarters in a Manchester home. See the Gossip Report on page 9. Source: LandVest
$689,000 The price of the most expensive, recent single-family sale in Franklin County. See By the Numbers on page 6. Source: The Warren Group
Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.
RECLAIMING ALEWIFE
BALANCING ACT
Life Science Developers Could Pay for Public Improvements
Second Quarter Shows Strength, But Challenges Loom
By Steve Adams | Banker & Tradesman Staff
By Diane McLaughlin | Banker & Tradesman Staff
Cambridge’s Carrot-and-Stick Bank Earnings Show Option for Development Little Credit Stress So Far
Commercial Real Estate PAGE 7
Banking & Lending PAGE 9