Page 10 - New England Condominium February 2022

10 NEW ENGLAND CONDOMINIUM
-FEBRUARY 2022
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mlove 2.25 x 2.5 condo association color 9.19.2017.indd 1
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human condition, co-op and condo com-
munities reflect this reality. The harsh-
ness of fear, uncertainty, and isolation
drives some people to act in antisocial—
even harmful—ways. But many others
are driven to look for new ways of cop-
ing, helping, and reinventing. Because
the communal and social aspect of living
in a multifamily community is part of its
appeal, its residents are more apt to reach
out to neighbors, create safe commu-
nity activities, and demonstrate patience
and flexibility with ever-changing rules
and guidance. Just like in the rest of the
world, there are the outliers who disrupt,
but with the right policies and profes-
sionals, co-ops and condo associations
have the means to handle them, even if
COVID continues to present additional
challenges.
■
Darcey Gerstein is Associate Editor and a
Staff Writer for New England Condominium.
DEALING WITH...
continued from page 9
professionals from Boston and surrounding
communities, BRIX is located in the middle
of pedestrian-friendly shops, services, eat-
eries, and cultural amenities.” BRIX also
features public art commissioned by Suzi
Hlavacek and Boston Art in the form of mu-
rals painted on the exterior of one side of the
building and a sculpture by local artist Peter
Cohen.
According to a report in the
Boston Real
Estate Times
, BRIX was the rst home-own-
ership project in Massachusetts to utilize
the state’s Housing Development Incentive
Program (HDIP), which provides Gateway
Cities like Salem with a tool to increase resi-
dential growth, expand diversity of housing
stock, and support economic development.
“ e story of this building and this work
is one of stick-to-itiveness and persever-
ance,” said Salem Mayor Kim Driscoll. “ is
doesn’t happen without state investment
through the HDIP Housing Development
Incentive Program and a crazy good devel-
opment team. It’s great to be mayor of a city
where there can be forward thinking while
taking advantage of our amazing history,
and this building is evidence of that.”
Peabody to Manage Eight Fenway Properties
Peabody Properties of Braintree, Mas-
sachusetts, recently announced that it has
assumed management of eight residential
communities from the Fenway Commu-
nity Development Corporation (Fenway
CDC) multifamily portfolio. e eight com-
munities located within the Fenway area of
Boston encompass a total of 311 a ordable
housing and mixed-income units.
Incorporated in 1973, Fenway CDC—a
PULSE
continued from page 4
501c3 non-pro t corporation—has devel-
oped more than 600 a ordable homes, on
its own and in partnership with others over
those ve decades.
“We are very thrilled about our partner-
ship with Peabody Properties and look for-
ward to working with them in bringing ex-
ceptional service to our residents,” said Leah
Camhi, executive director of Fenway CDC.
“Peabody Properties is excited to add
these eight new communities in the vibrant
and culturally diverse Fenway area of Bos-
ton to our managed portfolio,” said Melissa
Fish-Crane, principal and COO of Peabody
Properties. “We look forward to meeting
those who currently, and will in the future,
call these communities their home.”
Condo Prices Hit New Highs in 2021
e Massachusetts Association of Real-
tors® (MAR) has reported that in 2021, sales
prices reached new highs, inventory fell, and
homes sold in record time, o en well above
asking price.
In a news release, the organization said it
foresees the housing market trends of 2021
carrying into 2022, though at a more mod-
erate pace; strong buyer demand and inven-
tory shortages will both persist in the year
ahead.
MAR data provided the following key in-
dicators for December:
• e median price for single-family
homes was up 10.5% to $525,000, and the
median price for condominiums rose 8.3%
to $455,000, when compared to the same
time period in 2020.
• e price for single-family homes stayed
steady with November 2021’s median price,
while the price of condominiums decreased
from $461,649.
• New listings for single-family homes
were down 15.8% and condominium listings
decreased 18% compared to the same period
last year.
• On trend with the previous month, and
expected for the time of year, closed sales
decreased by 13.3% for single-family homes,
compared to December 2020, while closed
sales for condominiums dropped by 7.9%.
“As we enter the new year, buyer activity
and low inventory rates are expected to lin-
ger while price growth is anticipated to slow
down,” said Dawn Ru ni, 2022 President
of MAR and Realtor® at RE/MAX Connec-
tions. “ is change in price growth is a great
incentive for those thinking of selling their
homes to begin the process and secure the
best value for their property. e sustained
demand for homes is yet to temper, especial-
ly as we notice a decrease in new listings.”
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