EagleTribune.com, North Andover, MA

February 3, 2013

Real Estate Briefs

The Eagle-Tribune

---- — WESTFORD — Members of the Northeast Association of Realtors (NEAR) gathered recently at association headquarters in Westford to elect officers and directors for 2013. Christopher Doherty of Prudential Howe & Doherty Realtors in Andover will be the 2013 president. Doherty has been a member of the Realtor Association since 1974 and has since held many leadership positions within the association, including president of the former Greater Lawrence Board of Realtors in 1990, the year in which he was honored as statewide Realtor of the Year.

Others elected to serve as part of the 2013 NEAR Leadership team include: President-elect Joseph Farragher of JPF Real Estate Services in Methuen; First Vice President Ryan Schruender of Real Living Schruender Real Estate in North Andover; Treasurer Mary O’Donoghue, also of Prudential Howe & Doherty in Andover; and Secretary Linda Gilligan of J. Borstell Real Estate in Tewksbury. Terms for all leaders began Jan. 1, 2013.

Those elected as members of the NEAR Board of Directors for 2013 include: Clifford Critch of ERA Key Realty Services in Billerica; Matthew McLennan of Century 21 McLennan & Company in Methuen; and Michelle Oates of Coldwell Banker Residential Brokerage in Andover. Those elected to serve as directors for both NEAR and the Massachusetts Association of Realtors (MAR) include: current MAR Focus Area Vice President Angela Harkins of Angela Harkins & Associates Real Estate in Westford and Farragher.

Those previously elected to serve on the 2013 NEAR Board of Directors include: Ursula Flury of Ursula Graf Real Estate in Groton; and Vincent Forzese and Guillermo Molina, both of Coco Early & Associates in Methuen. Those previously elected to serve on both the NEAR and MAR Boards of Directors include: Linda Early of Coco Early & Associates in Methuen; Thomas Courtney of RE/MAX Prestige in Westford; as well as Doherty and O’Donoghue.

LONDONDERRY — RE/MAX New England announces that RE/MAX 1st Choice REALTOR Mark Oswald has been named to the 100 Percent Club for the 10th consecutive year. Oswald was named to the RE/MAX Hall of Fame in 2009. He is a market leader in Londonderry, Hudson, Derry, Windham, Hooksett, Manchester and Nashua.

Oswald has been the top sales associate for RE/MAX 1st Choice for the past six years. He has been active in community service serving on the Planning Board for six years, Town Council for nine years, Conservation Commission for 12 years and Co-Founded Leadership Londonderry. He has organized and conducted annual food drives in town for the past 21 years and has served as the Lancer Band Fundraiser. He was also named Londonderry Citizen of the Year. In addition to his sales success, Oswald has been recognized as a responsive Service Leader in southern New Hampshire real estate and for his expertise in handling first time buyers.

Oswald may be reached at 603-867-5800 or moswald@nh-moves.com.

MERRIMACK & NASHOBA VALLEYS — The Northeast Association of REALTORS (NEAR) reports that the number of single family homes sold during December in the 15 cities and towns from Boxford to Littleton was up by 11.6 percent compared with December of 2011. During all of 2012, a total of 3,207 single family home sales were sold in the area, a 23.3 percent increase over the previous year and the highest annual sales total since 2005. Condominium sales also rose sharply in December, climbing by 32.9 percent versus December of the previous year, and for the entire year, condo sales were up by 21.6 percent to a total of 1,172, the highest annual condo sales volume locally since 2007. The report is based on data from MLS Property Information Network in Shrewsbury.

The report also showed that the median sales price for single family homes sold locally in December was $307,700, a 14 percent increase over the median of $270,000 recorded in December of 2011. For 2012 as a whole versus 2011, the median sales price for single family homes rose by 3.3 percent to $309,900. Meanwhile, condominiums sold locally during December had a median sales price of $177,500, an increase of 7.6 percent compared with the median of $165,000 set in December of 2011. For all of 2012, the median price of condos sold locally was $170,000, a drop of 2.9 percent versus the $175,000 median price of condos sold in the area during 2011.

The report also provided inventory levels of area homes for sale as of Jan. 15. The 904 available single family homes represent the lowest inventory level in more than 10 years. Meanwhile, the 370 condominiums available for sale as of Jan. 15, is the lowest inventory level for condos since 2004. The height of inventory for both property types were set in 2006 and 2007 at 2,242 available single family homes and 1,251 condos.

The report also showed that the average length of time it took for a single family home sold in December to go from listing to a closed transaction was 123 days, unchanged from December of 2011. For condominiums, the average days on market in December was 90 days, a drop of 39.6 percent over the 149-day pace to sell that was set for condos in December of 2011.

Also contained in the report is information on residential properties locally that became classified as pending (i.e., under agreement but not yet closed) during December. For single family homes, the volume of pending sales in December rose by 17.6 percent to 220 agreements, versus 162 new pending sales in December of 2011, while the median price of those properties rose by 10.7 percent, to $309,900. Meanwhile, the number of pending sales for condominiums locally during December rose by 3.4 percent compared with the previous December, to 90 pending sales, with a median agreed-upon price of $179,900, an increase of 9.1 percent versus agreements made in December of 2011. Pending sales figures are considered a good indicator of future sales activity.

The Northeast Association of REALTORS is one of 1,500 local chapters of the National Association of REALTORS. Officially, NEAR covers 15 cities and towns from Boxford to Littleton, though it has members from more than 50 cities and towns in the Merrimack and Nashoba valleys as well as southern New Hampshire.