THE
ATTIAS GROUP REAL ESTATE
YEAR IN REVIEW
THE
ATTIAS GROUP REAL ESTATE In 2013, Real Estate continued to play an integral role in the U.S. economy. Its overall health has always been a leading indicator of our consumer confidence as a nation. The Attias Group continued to innovate as the market experienced its first full year of growth after six years of depreciation. As a company, we adjusted to the past weaker market conditions by sharpening our technology to substantially increase our buyer lead generation capacity. We expanded our marketing campaigns, increased our Internet presence, and produced millions of page views for our seller clients. The result: The Attias Group solidified its stature in the real estate community as a dominant player and fortified its position as the market turned for the better in 2013. The firm’s year-over-year number of transactions increased by a substantial 60%, far more than any of our closest competitors. We are poised to dominate the market. The past year also contributed to a much needed shift as appreciation gave appraisers confidence to value property at the same level as the offers that were being produced by the buying public. Interest rates started in the mid 3’s and ended with one major lender’s jumbo rate at 4.25%. The fact that rates remained this low added to buyers’ motivation and confidence. However, strong fears of a rate climb also served as motivation. All indicators point to favorable rates continuing this coming year, though the end of 2014 will certainly bring a rate hike from current levels. The Attias Group believes that optimism with regard to Wall Street and employment contributes to the attitude the buying public has about capital, thus impacting sales volume and pricing in a positive direction. Looking at the 2013 year-end unemployment figures for Massachusetts, unemployment was at 6.6% and Middlesex County unemployment at 5.2%. These numbers, combined with less underemployment, will contribute to the strongest real estate year we’ve had in seven years. The total number of sales in Massachusetts in 2013 rose by 8% (3439 more units) while the average days on market decreased substantially by 28 days. The average price for the market as a whole rose by 7%, while the median price experienced a 9% increase. Homes priced above 2 million continued to show strong progress with an 11% increase in year-over-year sales volume following the 2012 increase of 40%. This quartile of the market should see landmark sales for updated prime locations. In Middlesex County, the number of sales rose by 9% (937 more units); days on market decreased by 31 days; and both the average and median price increased by 7%. Although the year-over-year increases in Middlesex County are comparable to those of the state as a whole, the average sale price in Middlesex County is 25% higher than the average for the state. Of the twelve local towns surveyed, ten towns had an increase in sales volume. 70% of those towns showed a double-digit increase. In a supply and demand business, when demand increases and inventory does not, pricing goes up. Overall, 2013 will be known as the first year of the upward economic cycle which historically runs 7 to 10 years. All homeowners are currently holding onto an appreciating asset. This is wonderful news for those looking to sell this year. As for buyers, get ready for dropping your contingencies, paying above asking price, and competing for your next home. As always, The Attias Group is prepared and has positioned itself ahead of the curve in all respects. We will continue to guide our clients to landmark success in 2014 and are committed to preparing strong strategies that produce results for our buyer and seller clients. The Attias Group will continue to exemplify trusted real estate brokerage, offer thorough and honest data analyses and creative marketing strategies, as well as provide tenacious and skilled negotiations. We want to personally thank you for your continued support and, as always, we deeply appreciate your business.
Respectfully,
Zur Attias
48 THOREAU STREET • CONCORD • MA 01742 • 978.371.1234
Acton 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $400,000
54
25%
$336,500
44
18%
$335,000
$400,000-$499,999
48
22%
$447,000
61
26%
$454,000
$500,000-$599,999
45
21%
$550,000
54
23%
$555,000
$600,000-$699,999
41
19%
$636,500
42
18%
$641,250
$700,000-$899,999
24
11%
$756,691
28
12%
$749,500
$900,000 and higher
3
2%
$929,610
8
3%
$1,055,000
215
100%
$509,900
237
100%
$522,000
Total • • • • •
Average Days on Market decreased 40% from 121 in 2012 to 73 in 2013 2% increase in median price from 2012 to 2013 10% increase in sales volume from 2012 to 2013 67% of total sales were below $600,000 in 2013 3% of total sales were above $900,000 in 2013
Bedford 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $400,000
19
15%
$365,000
13
9%
$340,000
$400,000 - $499,999
32
25%
$437,750
25
17%
$450,000
$500,000 - $599,999
29
23%
$563,500
32
22%
$543,500
$600,000 - $699,999
9
7%
$649,900
20
14%
$627,700
$700,000 - $899,999
22
18%
$803,750
25
18%
$750,000
$900,000 and higher
15
12%
$1,040,000
29
20%
$1,023,000
Total
126
100%
$554,750
144
100%
$609,500
• • • • •
Average Days on Market decreased 34% from 86 in 2012 to 57 in 2013 10% increase in median price from 2012 to 2013 13% increase in sales volume from 2012 to 2013 62% of total sales were below $700,000 in 2013 20% of total sales were above $900,000 in 2013
Boxborough 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $400,000
7
26%
$360,000
7
13%
$362,000
$400,000 - $499,999
7
26%
$435,000
21
40%
$450,000
$500,000 - $599,999
5
18%
$570,000
7
13%
$580,000
$600,000 - $699,999
6
22%
$623,500
6
11%
$626,500
$700,000 - $799,999
1
4%
$775,000
8
15%
$748,500
$800,000 and higher
1
4%
$880,000
4
8%
$851,250
Total
27
100%
$460,000
53
100%
$488,500
• • • • •
Average Days on Market decreased 23% from 96 in 2012 to 74 in 2013 6% increase in median price from 2012 to 2013 96% increase in sales volume from 2012 to 2013 66% of total sales were below $600,000 in 2013 4% of total sales were above $800,000 in 2013
Carlisle 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $500,000
17
31%
$425,000
13
22%
$438,000
$500,000-$699,999
16
29%
$585,750
17
29%
$605,000
$700,000-$999,999
3
5%
$770,000
17
29%
$818,700
$1,000,000-$1,499,999
7
13%
$975,000
10
17%
$1,170,000
$1,500,000-$1,999,999
11
20%
$1,135,000
2
3%
$1,540,000
$2,000,000 and higher
1
2%
$2,525,000
0
0%
$0
Total
55
100%
$625,000
59
100%
$690,000
• • • • •
Average days on market decreased 52% from 183 in 2012 to 87 in 2013 10% increase in median price from 2012 to 2013 7% increase in sales volume from 2012 to 2013 80% of sales were below $1,000,000 in 2013 20% of sales were above $1,000,000 in 2013
Concord 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $500,000
27
14%
$410,000
20
9%
$456,688
$500,000 - $699,999
52
26%
$600,000
53
24%
$580,000
$700,000 - $999,999
58
29%
$853,000
59
27%
$840,000
$1,000,000 - $1,499,999
38
19%
$1,227,500
47
21%
$1,200,000
$1,500,000 - $1,999,999
10
5%
$1,594,302
23
11%
$1,700,000
$2,000,000 and higher
13
7%
$2,825,000
17
8%
$2,250,000
Total
198
100%
$811,000
219
100%
$881,000
• • • • •
Average days on market decreased 13% from 97 in 2012 to 84 in 2013 9% increase in median price from 2012 to 2013 10% increase in sales volume from 2012 to 2013 72% of sales were between $500,000 and $1,500,000 in 2013 19% of sales were above $1,500,000 in 2013
Lexington 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $500,000
44
12%
$440,750
24
6%
$459,500
$500,000-$699,999
102
28%
$581,600
90
23%
$609,725
$700,000-$999,999
93
25%
$817,500
117
31%
$830,000 $1,227,500
$1,000,000-$1,499,999
98
26%
$1,220,000
106
28%
$1,500,000-$1,999,999
21
6%
$1,615,000
34
9%
$1,675,000
$2,000,000 and higher
11
3%
$2,212,550
12
3%
$2,349,500
Total
369
100
$800,000
383
100
$870,000
• • • • •
Average days on market decreased 37% from 86 days in 2012 to 54 days in 2013 9% increase in median price from 2012 to 2013 4% increase in sales volume from 2012 to 2013 82% of sales were between $500,000 and $1,500,000 in 2013 12% of sales were above $1,500,000 in 2013
Lincoln 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $500,000
4
6%
$430,000
1
2%
$453,000
$500,000-$799,999
21
35%
$627,000
10
22%
$612,500
$800,000-$999,999
14
23%
$888,000
9
20%
$870,000
$1,000,000-$1,499,999
13
22%
$1,230,000
14
30%
$1,155,000
$1,500,000-$1,999,999
7
12%
$1,600,000
7
15%
$1,616,000
$2,000,000 and higher
1
2%
$2,325,000
5
11%
$2,175,000
Total
60
100%
$860,000
46
100%
$1,117,000
• • • • •
Average Days on Market decreased 4% from 148 in 2012 to 142 in 2013 30% increase in median price from 2012 to 2013 23% decrease in sales volume from 2012 to 2013 44% of sales were below $1,000,000 in 2013 11% of sales were above $2,000,000 in 2013
Maynard 2012 Sales
% of total market
Less than $200,000
25
$200,000 - $249,999
19
$250,000 - $299,999
27
$300,000 - $399,999
28
$400,000 - $499,999
7
$500,000 and higher
2 108
100%
Sales Price
Total • • • • •
2013 Median Price
Sales
% of total market
Median Price
23%
$160,000
13
9%
$165,000
18%
$223,000
16
11%
$238,200
25%
$227,500
33
23%
$275,000
26%
$330,000
59
41%
$350,000
6%
$420,000
18
13%
$426,591
2%
$519,000
4
3%
$527,000
$291,799
143
100%
$320,000
Average Days on Market decreased 38% from 132 in 2012 to 82 in 2013 10% increase in median price from 2012 to 2013 32% increase in sales volume from 2012 to 2013 43% of sales were below $300,000 in 2013 3% of sales were above $500,000 in 2013
Sudbury 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $300,000
10
4%
$222,500
7
3%
$268,000
$300,000 - $499,999
67
30%
$432,450
44
18%
$425,000
$500,000 - $699,999
54
24%
$587,200
77
32%
$595,000
$700,000 - $999,999
69
30%
$821,000
74
30%
$790,000
$1,000,000 - $1,499,999
25
11%
$1,153,125
35
15%
$1,110,000
$1,500,000 and higher
2
1%
$1,630,000
5
2%
$1,600,000
227
100%
$615,000
242
100%
$680,000
Total • • • • •
Average Days on Market decreased 23% from 140 in 2012 to 108 in 2013 11% increase in median price from 2012 to 2013 6% increase in sales volume from 2012 to 2013 83% of sales were below $1,000,000 in 2013 2% of sales were above $1,500,000 in 2013
Wayland 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $300,000
20
11%
$242,500
11
6%
$260,300
$300,000-$499,999
59
32%
$420,000
35
19%
$399,900
$500,000-$599,999
28
15%
$546,000
41
23%
$551,450
$600,000-$899,999
42
23%
$733,094
60
33%
$714,988
$900,000-$999,999
11
6%
$962,000
8
5%
$952,500
$1,000,000 and higher
23
13%
$1,250,000
25
14%
$1,162,500
Total
183
100%
$540,000
180
100%
$612,025
• • • • •
Average Days on Market decreased 39% from 139 in 2012 to 85 in 2013 13% increase in median price from 2012 to 2013 2% decrease in sales volume from 2012 to 2013 48% of total sales were below $600,000 in 2013 the same as in 2012 14% of total sales were above $1,000,000 in 2013
Weston 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $500,000
3
2%
$420,000
1
1%
$490,000
$500,000 - $699,999
20
14%
$595,000
13
8%
$649,000
$700,000 - $999,999
27
19%
$851,700
39
23%
$860,000
$1,000,000 - $1,499,999
45
32%
$1,310,000
53
32%
$1,203,000
$1,500,000 - $1,999,999
16
12%
$1,679,500
34
20%
$1,650,000
$2,000,000 and higher
30
21%
$2,764,188
26
16%
$2,700,000
Total
141
100%
$1,300,000
166
100%
$1,235,750
• • • • •
Average Days on Market decreased 23% from 176 in 2012 to 135 in 2013 5% decrease in median price from 2012 to 2013 18% increase in sales volume from 2012 to 2013 9% of total sales were below $700,000 in 2013 68% of total sales were above $1,000,000 in 2013
Winchester 2012 Sales Price
Sales
% of total market
2013 Median Price
Sales
% of total market
Median Price
Less than $500,000
26
14%
$445,450
3
1%
$490,000
$500,000-$699,999
62
33%
$619,950
49
22%
$619,000
$700,000-$899,999
41
21%
$768,000
73
34%
$817,500
$900,000-$999,999
15
8%
$938,000
24
11%
$939,500
$1,000,000-$1,499,999
31
16%
$1,152,000
50
23%
$1,217,500
$1,500,000 and higher
15
8%
$1,800,000
19
9%
$1,680,000
Total
190
100%
$707,500
218
100%
$874,668
• • • • •
Average Days on Market decreased 40% from 98 in 2012 to 59 in 2013 24% increase in median price from 2012 to 2013 15% increase in sales volume from 2012 to 2013 23% of total sales were below $700,000 in 2013 32% of total sales were above $1,000,000 in 2013
Creative Marketing &
Skilled Negotiations The Attias Group’s Local and National Marketing positions average over 8 Million page views annually. This visibility translates to more showings, higher prices, and fewer days on market for our seller clients.
The AttiasGroupBlog.com Twitter.com/TheAttiasGroup Facebook.com/TheAttiasGroupRealEstate YouTube.com/user/TheAttiasGroup Members of Who’s Who in Luxury Real Estate Relocation Network
T HE A TTIAS G ROUP .com
For advice and guidance in real estate, please contact me directly at 978.621.0734 or email zur@theattiasgroup.com
Zur Attias BROKER, OWNER
CELL/TEXT: 978.621.0734 OFFICE: 978.371.1234 zur@theattiasgroup.com Founder and Managing Broker Zur
Attias has been one of the highest producing
brokers in Massachusetts for over a decade. With a reputation for outstanding client representation, Zur’s success is exemplified by his ability to represent his client’s interests with extraordinary passion, honesty, and professionalism. His comprehensive knowledge of local and national market trends allows him to understand, dissect and explain relevant information to his clients. His ability to identify and articulate the factors that affect a property’s value is a key component in getting sellers the highest possible price and negotiating the best value for his buyers. • Consistently performs in the top half of the top 1% of Massachusetts’ 27,020 realtors • National Award for Excellence for Online Marketing from the industry’s most widely subscribed trade publication • Member of Who’s Who in Luxury Real Estate • Asked to share real estate insights by leading publications The Boston Globe & DuPont Registry • Featured real estate analyst on Money Matters
THE
ATTIAS GROUP REAL ESTATE 48 THOREAU STREET • CONCORD • MA 01742 • 978.371.1234