Banker & Tradesman: Aug. 3, 2020

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MONTHLY TRANSFER DIRECTORY REPORTS

Call 617.896.5388 or email datasolutions@thewarrengroup.com

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


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