EagleTribune.com, North Andover, MA

July 22, 2012

Real Estate news


The Eagle-Tribune

---- — WESTFORD — A multi-year agreement forged in Westford links more than 300 real estate agents in the state of Massachusetts with Habitat for Humanity’s goal to end poverty housing. The partnership includes plans for groundbreaking efforts in Greater Lowell, Worcester and Springfield building homes and community throughout the territory served by RE/MAX Prestige.

A project will also be selected to bring leaders of both organizations together to highlight the partnership and to participate directly in the building of Habitat homes. Agents and their teams will also be actively involved in the project through the sponsorship of Team Building Days on the home sites.

RE/MAX Prestige Brokers and agents have also individually pledged to contribute a portion of their commission to Habitat for Humanity to fund the construction of simple, decent, affordable homes.

RE/MAX Prestige has offices in Burlington, Chelmsford, Danvers, Dracut, East Longmeadow, Groton, Marlboro, Methuen, Northborough, Pelham, N.H., Springfield, Tewksbury, Topsfield, Westford and Wilbraham. For more information, visit RemaxPrestige.com.

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NORTH ANDOVER — Sam Parrish has joined Draper Real Estate’s North Andover office. Parrish brings a wealth of knowledge as a business owner/operator of several restaurants; experiences in building renovation as a former contractor; and, in addition to his business background, he had an extraordinary first season as an agent in the fast-paced Boston housing market. Parrish is passionate about his work and dedicated to his clients’ best interests; he has a special talent for listening to their needs, ideas and desires, then working hard to make them happen.

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MERRIMACK & NASHOBA VALLEYS — The Northeast Association of REALTORS (NEAR) reports that single family home sales during May in the 15 cities and towns from Boxford to Littleton rose by 37.2 percent compared with May of last year, while the number of condominiums sold climbed by 50.8 percent during the same time frame. Sales of both property types also showed significant gains versus the month of April, rising by 25 and 23.4 percent, respectively. The report is based on data from MLS Property Information Network in Shrewsbury.

The report also showed that the median price for single family homes sold locally during May was $302,000, a drop of 2.6 percent versus last May, but an increase of 4.1 percent over April’s median price of $290,000. Meanwhile, the median price of condominiums sold in May was $198,000, a rise of 17.2 percent compared with last year and an increase of 23.8 percent versus April’s median of $160,000.

The average length of time it took to sell a single family home in May was 120 days, an increase of 1.7 percent over last May. It took an average of 119 days for the condominiums sold during May to close, a decrease of 5.6 percent compared with last May.

The report also noted that pending sales, those now under agreement but not yet closed, for single family homes during May were up by 17.8 percent compared with May of 2011, with the agreed-upon median price for those properties relatively flat, up by 1.6 percent versus last May. The number of pending sales for condominiums locally during the month was also up by 12.1 percent since last May, with the median price easing up by 2.4 percent to $168,900.

The report also provided inventory levels of area homes for sale as of June 15, which at 1,611 available single family homes and 627 condominiums have dropped slightly below last year’s levels. The inventory for both single family homes and condominiums locally remains well below the peaks set in 2006 and 2007, which were 2,242 for single family homes and 1,251 for condominiums.

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