laer realty partners mid-year ma housing report

1 | P a g e For detailed information about any town our county please contact any of our experienced agents at 1-844-OUR-LAER.

LAER Realty Partners

2015 Mid-Year Massachusetts

Housing Report

Single Family Homes


State of the Market

From The Desk of The Founders

The very last bit of snow just recently melted in Boston, more than three months after the official end of

winter. With one of the most difficult starts to a year in recent history, we are cautiously optimistic to

report that the real estate market is strong for first half of 2015. As of the end of June 2015, the year-

over-year closed single family sales for the Commonwealth of Massachusetts (according to MLS) is

19,800 units, approximately 400 units more than the same time period in 2014. Total single family sales

volume is also rising from $8.37B to $8.7B as inventory shortages are creating bidding wars and pricing

increases. Median home prices are up to $340K from the previous year’s $334K and the average single

family sold home price is $440K, up from $427K in the previous year.

Despite the strong increase in unit sales and prices it’s important to note that the average days on

market is still 108 days and there average number of days for an actively listed property to receive an

offer is 67 days. The average list to sell ratio is 98%, but it’s important to note that this number is

calculated based on the last offer price for the property (which is often much lower than the original

offer price).

In short, the great news is that the market is strong. That being said, it’s vitally important for sellers and

real estate agents alike to work together to price properly. As is typical in any market, over-priced

properties tend to sit on the market for months while those priced aggressively sell days after they are

marketed to consumers.

We have included overall single family market data for the state. As well, we have included market data

for some of the larger counties in The Commonwealth. These figures only represent data in MLSPIN, the

largest database of agency listed property in Massachusetts. This data does not include data from LINK

or the Cape and Islands MLS, nor does it include private non-agency sales. Although the data set forth is

not a complete compilation of the 2014 and 2015 Massachusetts real estate history, it’s a broad enough

segment of the market, that we feel it is an accurate representation of what is happening across the

Commonwealth.

For more information or for data specific to your local market please contact a LAER agent at any of our

20 office locations. You can visit our website at www.LAERrealty.com for a list of offices and agents.

Stacey Alcorn Andrew Armata

Co-CEO Co-CEO


About LAER

LAER Realty Partners is a top ten real estate firm in Massachusetts based on transaction units

and volume closed. There are 350 agents and 20 offices. We are licensed to do business in MA,

NH, CT, NY, RI, and CO. In 2015 LAER Realty Partners will close approximately $1B in sales

volume and 3500 transactions. Office locations in Massachusetts include Andover, Billerica,

Burlington, Chelmsford, Eastham, East Longmeadow, Danvers, Dracut, Groton, Leominster,

Mansfield, Marstons Mills, Martha’s Vineyard, Northborough, North Reading, Norwood,

Waltham, Westborough, Westford, and West Roxbury.

Stacey Alcorn, CEO


Direct: 978-479-4053

[email protected]

Andrew Armata, CEO


Direct: 978-479-1794

[email protected]

Press Inquiries:

Peggy Rose

Boston, MA

(617) 835-7673

[email protected]


LAER Mission

Focus on Great Agents and Great Customers Will Follow

Since the beginning we have focused on providing the best possible opportunity for great real estate

agents to thrive and grow their businesses. By providing each agent with the highest level of support,

technology, and training, it enables them to offer those tools out to our end consumer, home buyers and

sellers, from all around New England. We believe that to be the best in real estate one must devote their

full time energy into the endeavor. We aren’t a firm for just any agent, just dedicated, driven ones that are

passionate about being the best at what they do. The best of the best realize that real estate is a calling

and LAER Realty Partners is the support mechanism that enables them to provide the ultimate

experience for our consumers.

It’s Best to Do One Thing Really, Really Well

Our agents are good at one thing, selling real estate. A percentage of their day is dedicated to learning

new ways to become better at their craft, whether it be negotiating, marketing or prospecting. Some firms

require their agents be involved in short sale negotiating, recruiting other agents and other tasks that take

them away from the core business, real estate. We hire expert staff to handle short sales, mortgage

financing and other niche areas of the business so that our career professionals spend their valuable time

doing what they do best, marketing and selling homes.

Bigger is Better

We started our organization in 2000 with one office in Tyngsboro, Massachusetts. Today we have

fourteen offices spread throughout New England. With more than 350 of the best agents in the world

within our organization, each agent has the opportunity to learn best practices from their sister and

brother agents across our network. As well, when a seller lists their home with LAER Realty Partners

that listing is syndicated immediately to the 350 agents who each have a sphere of influence of more than

200 clients each. That’s exposure to more than 70,000 potential buyers in New England!

Real Estate is a Relationship Business

Every home we sell is just the start of an ongoing relationship with that customer. Searching for and

selecting a dwelling is an intimate process that requires trust and agreement amongst all parties. Your

real estate agent will be your partner long after the transaction closes. When you need information on

local schools, communities and events, it’s your LAER Realty Partner agent who will be there to help

you. When you work with an agent who understands and cherishes the long-term relationship involved,

it makes for a more enjoyable experience all around.

Great Just Isn’t Good Enough

As an organization we see being great at our business of selling homes as a starting point, not an

endpoint. We set ourselves goals that we know we can’t reach yet because we know that by stretching to

meet them we can get further than we expected. Through technology, training, and innovation, we aim to

take things that work well and improve upon them in unexpected ways. Even if you don’t know exactly

what you are looking for in a real estate agent or even a home, finding an answer is our problem, not

yours. We try to anticipate needs not yet articulated by our customers and meet them by raising the

standards for the agents at our firm. We are always looking for new ways to make a difference in the lives

of those we serve - our agents, staff, and clients. Our constant need to be better at everything today than

we were yesterday is the driving force behind everything we do.


MLS PIN Top 10 Highest Priced Sales 2015

1. 101 Fernwood, Brookline SP $14.5M (LP $18M)

2. 255 Warren Street, Brookline SP $11.8M (LP $14.9M)

3. 130 Commonwealth Ave, Boston SP $11.6M (LP $13.4M)

4. 56 Beacon Street, Boston SP $11.5M (LP $11.9M)

5. 96 Tilipi Run, Chatham SP $8.2M (LP $8.6M)

6. 1 Green Lane, Weston SP $6.8M (LP $6.8M)

7. 77 Corey Lane, Milton SP $5.8M (LP $6.4M)

8. 144 Edmunds Road, Wellesley SP $5.8M (LP $8.9M)

9. 50 Lyman Road, Brookline SP $5.6M (LP $5.5M)

10. 25 Meadowbrook, Weston SP $5.4M (LP $5.6)

These numbers do not constitute listings in LINK or Cape and Islands MLS, nor does this include

private transactions not reported to a listing service.


All of Massachusetts

MLS Data Jan – June 2015

MLSPIN for SF Homes



MLS Data Jan – June 2014

MLSPIN for SF Homes


Overview All of Massachusetts

Mid Year – Year Over Year 2014/2015

MLSPIN for SF Homes

January – June 2015


Total Unit Sales is up by 400 units.

Total sales volume is up to $8.7B from $8.37B

Median Price is up to $340K from $334K

Average price is up to 440K from 427K

Average Days on Market is up to 108 from 104

Average Days to Offer 67 Days from 66 Days

Sales Price to List Price Ratio is steady at 98%



MLS Data June 2015

MLSPIN for SF Homes



MLS Data June 2014

MLSPIN for SF Homes


Overview All of Massachusetts

June 2015 vs June 2014

MLSPIN for SF Homes

June 2015

June 2014

Total Unit Sales is up by 700 units

Total sales volume is up to $2.8B from $2.49B


Average price is up to 479K from 467K

Average Days on Market is up down to 82 from 87

Average Days to Offer 48 Days from 51 Days

Sales Price to List Price Ratio increased from 99% to 98%


Suffolk County

MLS Data January- June 2015

MLSPIN for SF Homes


Suffolk County


MLSPIN for SF Homes


Suffolk County Overview


MLSPIN for SF Homes



Total Unit Sales is down by 20 units

Total sales volume is down by $25M


Average price is down to $626K from $652K

Average Days on Market is down to 64 from 68

Average Days to Offer is steady at 40

Sales Price to List Price Ratio is up to 100% from 99%


Suffolk County

MLS Data June 2015

MLSPIN for SF Homes


Suffolk county

MLS Data June 2014

MLSPIN for SF Homes


.

Suffolk County Overview


MLSPIN for SF Homes

June 2015

June 2014


Total sales volume is up by $20M


Average price is up to $717K from $615K


Average Days to Offer is steady at 25

Sales Price to List Price Ratio is increasing from 100% to 102%


Middlesex County


MLSPIN for SF Homes


Middlesex County Overview


MLSPIN for SF Homes








Average Days to Offer is up to 46 from 44



Middlesex County

MLS Data June 2015

MLSPIN for SF Homes


Middlesex County

MLS Data June 2014

MLSPIN for SF Homes

.


Middlesex County Overview


MLSPIN for SF Homes

June 2015

June 2014






Average Days to Offer is down to 30 from 32



Worcester County


MLSPIN for SF Homes


Worcester County Overview


MLSPIN for SF Homes











Worcester County

MLS Data June 2015

MLSPIN for SF Homes


Worcester County

MLS Data June 2014

MLSPIN for SF Homes


Worcester County Overview


MLSPIN for SF Homes

June 2015

June 2014









Essex County


MLSPIN for SF Homes


Essex County Overview


MLSPIN for SF Homes




Total sales volume is down by $3M




Average Days to Offer is up to 59 from 56



Essex County

MLS Data June 2015

MLSPIN for SF Homes


Essex County

MLS Data June 2014

MLSPIN for SF Homes


Essex County Overview


MLSPIN for SF Homes

June 2015

June 2014





Average Days on Market is steady at 79




Hampden County


MLSPIN for SF Homes


Hampden County Overview


MLSPIN for SF Homes











Statewide

Went to Pending Jan – June 2015


Statewide

Wen to Pending Jan – June 2014


Went to Pending Overview

Statewide

Mid Year 2015 versus 2014

Jan – June 2015 Pendings

Jan – June 2014 Pendings

Pending units are up 2199 units

Pending Median Price is up by 6K

Pending Average Price is up by 10K

Pending Market Volume is up by $2B


Contact Information:

Stacey Alcorn, CEO


Direct: 978-479-4053

[email protected]

Andrew Armata, CEO


Direct: 978-479-1794

[email protected]

Press Inquiries:

Peggy Rose

Boston, MA

(617) 835-7673

[email protected]

laer realty partners mid-year ma housing report

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