Page 4 - New England Condominium January 2022

4 NEW ENGLAND CONDOMINIUM
-JANUARY 2022
NEWENGLANDCONDO.COM
Industry Pulse
Events
IREM Forecast Luncheon
The Boston chapter of the Institute
of Real Estate Management (IREM) will
hold its annual Economic Forecast Lun-
cheon on January 18 at the Granite Links
ballroom in Quincy, Massachusetts.
Elliot Eisenberg, Ph.D., a former se-
nior economist with the National Asso-
ciation of Home Builders in Washington,
D.C., will be the guest speaker. Eisenberg
is an internationally acclaimed econo-
mist and public speaker specializing in
making the arcana and minutia of eco-
nomics fun, relevant, and educational.
He is the creator of the multifamily stock
index (the first nationally recognized
index to track the total return of public
firms principally involved in the owner-
ship and management of apartments),
the author of more than 85 articles,
serves on the Expert Advisory Board of
Mortgage Market Guide, and is a regu-
lar consultant to several large real estate
professional associations, hedge funds,
and investment advisory groups. His re-
search and opinions have been featured
in
Bloomberg, Business Week, Bureau of
National Affairs, Forbes, Fortune,
and
many other publications.
The event will also include a
new members’ installation and past
presidents’ recognition. For details,
visit www.iremboston.org.
CAI-CT Presents Condo, Inc.
The Connecticut Chapter of the Com-
munity Associations Institute (CAI) will
offer its Condo, Inc. program via Zoom
on three Saturdays: January 29, February
5, and February 12. The program, run-
ning for two hours each session, is de-
signed to educate seasoned board mem-
bers, recently elected board members,
and unit owners seeking to understand
more about how an association runs.
To learn more or to register, visit
www.caict.org.
BOMA Presents TOBY Awards
BOMA Boston recently held its an-
nual TOBY Awards event, naming James
Russell of Cushman & Wakefield as
Property Manager of the Year/High Rise;
Cathy Buckingham of Alexandria Real
Estate Equities as Property Manager of
the Year/Mid-Rise; and Ali Bogdan of
Newmark as Property Manager of the
Year/Suburban.
Other professionals tapped for awards
were Jo Ann Merline-Rogers, Manager of
the Year; Zach Amdur, Facility Manager
of the Year; and Shelby McKenney, Ris-
ing Professional of the Year. All three are
with Alexandria Real Estate Equities.
Real Estate &
Development
Condo Sales, Prices Rise Again
Condominium sales and prices rose
in November, according to the Massa-
chusetts Association of Realtors (MAR).
Reports from the MAR show that the
median condo price in November was
$460,000, up from $417,000 a year ago.
The median price of single-family homes
also rose year over year, rising from
$480,000 to $525,000.
At the same time, the number of con-
dominiums and single-family homes for
sale in the month of November was the
lowest since the MAR began reporting
the data in 2004.
In New Hampshire, the Seacoast
Board of Realtors reported that sales of
condominium units in Seacoast towns
hit a new monthly high despite a low
supply of available units. According to a
press release from the Seacoast Board of
Realtors, with an all-time monthly low 57
available units for sale as December be-
gan, the Seacoast condominium market
still recorded 75 sales. That was the most
ever in November and up 10.2% from
last year and 19% from October. The me-
dian price of $415,000 is up 12.6% from
last year, but off the record $475,500 set
in August.
Dorchester Condo Sets Record
A Dorchester, Massachusetts, condo-
minium unit in the “Over the Bridge”
region of Savin Hill recently set a new
record for condo sales in the city, with a
price tag of $1,425,000.
According to the
Dorchester Report-
er,
Jose Castro of Coldwell Banker said
the three-bedroom condo at 186 Gram-
pian Way edged out the previous re-
cord—$1,349,000 for a three-bedroom,
two-and-a-half-bathroom penthouse at
7 Baker Court in August 2020. The mod-
ern, 2,432 square-foot home offers three
bedrooms, two full bathrooms, and one
half bathroom, the paper reported.
n
PULSE
Please submit Pulse items to
Pat Gale at
patgale@yrinc.com