Somerville Condo Trends – March 2013

Somerville Condos 3-13Somerville Summary: March condo inventory remains at record lows, down 51% from a year ago. ~ Listing market value was down by 48% from 48 million to over 48 million in listing value. ~ The median list price increased by 7% with the active days on market shrinking 45% or by 29 days. ~ Condos going under agreement were down 6% from a year ago.

somerville condo trends

The number of condos sold in March was down by 30%, which resulted in a 13% decrease in year to date sales. ~

Somerville sold condo market value was up 13% 9 million to 10+ million in sales. ~ The median sales price was up 13% at $492,000. ~ Days on market increased 43%to over a month. The original price to sale price ratio was at 98% of original list price due to competitive bidding. ~ The average square foot price $382, up 8% per square foot with the living area increasing by 211 square feet.

2012 Marks a Year of Growth at RE/MAX of New England!


Overall Increases Show Improvement in Market Conditions

RE/MAX of New England is pleased to announce several key success factors which marked 2012 as a year of recovery in the housing market – an overall increase in volume of home sales, total transactions, Agent productivity, and the launch of proprietary technologies.

In New England, RE/MAX Agents were involved in 33,369 transaction sides, an increase of 18.1% over 2011. The 2012 New England sales volume for RE/MAX Agents was $8,132,829,983 up 21.1% from last year. Agent productivity within the RE/MAX of New England network rose 6% to an average of 13 transaction sides per Agent*.

Across New England, RE/MAX outperformed the competition in Agent productivity**. In Massachusetts, RE/MAX completed 11 transactions per Agent, three more than their nearest competitor; in Connecticut, RE/MAX completed 15 transactions per Agent, three more than the closest competition; in New Hampshire, RE/MAX completed 17 transactions per Agent, almost double their nearest competitor at nine;  in Rhode Island, RE/MAX achieved 14 transactions per Agent twice that of  their nearest competitor; and in Maine, RE/MAX completed 15 transactions per Agent, just one more than their competition.

These significant improvements and milestones came under the new leadership of Executive Vice President and Regional Director of RE/MAX of New England, Dan Breault, who started his new role in May of 2012. Dan is a demonstrated leader growing RE/MAX’s market share in Indiana by more than twenty-five percent and Agent productivity by thirty-eight percent in a down economy. He brings decades of leadership, sales and major brand experience to the New England market.

“These signs of improvement are incredibly exciting for everyone at RE/MAX of New England,” said Breault. “The past few years have been a challenging time for all of our Agents, but the numbers confirm that we have successfully led the way through these tough times and are maintaining our position as the most productive sales force in the industry.”

Also an important milestone in 2012 was the official introduction of Integra Enterprises Corporation. Integra is the largest sub-franchiser of RE/MAX, LLC, representing approximately 30 percent of RE/MAX franchises worldwide. More than 27,000 RE/MAX Agents fall under the umbrella of Integra, including all 2,725 RE/MAX Agents in New England. Despite operating in more than 30 countries internationally, this family-run, privately-held company based in Toronto,Ontario,Canada has maintained a low profile in the international business community, instead choosing to focus on enhancing the RE/MAX brand name.

Entering its 33rd year in business in 2012, Integra moved forward with an aggressive growth strategy to shake up market share in New England. Their goal was to double existing market share, further growing the RE/MAX name. Integra took the first step toward this goal by completing the largest conversion in New England to date. ERA Andrew Realty, with 70 experienced Agents in two offices in Medford,MA and Stoneham,MA, joined Integra under the name RE/MAX Andrew Realty Services.

In addition, RE/MAX of New England also experienced an increase in franchise growth through several significant mergers and acquisitions. Most notably, RE/MAX Heritage and RE/MAX Leading Edge, both in Massachusetts, united to create one of the largest real estate company’s in that state. Keeping the name RE/MAX Leading Edge, the offices’ combined market share now makes them the number five real estate company in Massachusetts and the number two franchise within RE/MAX of New England in volume, transactions, and Agent count.

Also, RE/MAX Valley Shore in Old Saybrook, CT merged with Genovali Realty holding number one market share within Old Saybrook. In Maine, RE/MAX By The Bay successfully expanded into Portsmouth, NH adding 20 seasoned Agents to their company and further strengthening their footprint within that territory. In Manchester, VT, Battenkill Real Estate transitioned into RE/MAX Four Seasons after operating as a private real estate office for more than 25 years.  All of these accomplishments furthered strengthened Integra’s vision to expand within the New England market.

RE/MAX of New England also made significant strides in utilizing the newest industry technologies. At the start of the year, was re-launched allowing users to have a more intuitive, personalized online experience and giving home buyers and sellers direct access to the things that matter most –thousands of listings with the ability to build a customized consumer experience.  Differentiating itself from other real estate franchisors, RE/MAX was the first to incorporate the new Real Estate Network powered by ListHub in a mobile app format, while still offering its consumers the ability to search for homes across the country through traditional MLS data.


2013 RE/MAX vs. The Industry Report is Here!

The 2012 numbers are in, and once again RE/MAX agents have outproduced the competition.

RE/MAX vs. the Industry Report released today, RE/MAX agents in the U.S. closed 828,960 residential transaction sides in 2012. The nearest competitor? Just 663,826.

RE/MAX also led in national advertising, website visits and global reach. 


RE/MAX Destiny in the News!


RE/MAX Office Coming to Church Site

By John Ruch of the JP Gazette

HYDE SQ.—A RE/MAX Destiny real estate office is coming to a storefront on the former Blessed Sacrament Church complex at 363 Centre St., possibly as soon as May.

“What’s happening in the Hyde Square area is amazing,” said RE/MAX Destiny’s Juan Murray, referring to development in the area. “We’d like to be part of that.”

RE/MAX Destiny is a full-service real estate franchise that is a branch of an existing office in Cambridge. Its services will include sales representing both buyers and sellers, rentals, commercial transactions, property management and investment property consulting.

RE/MAX Destiny was the company marketing the storefront in the recently built mixed-use building at Centre and Creighton Streets before deciding to become the tenant itself.

“We were marketing the space and one day it dawned on us, what a great neighborhood and what a great space,” Murray said.

He added that Jamaica Plain has always been a great real estate market due to its good quality of life, though “it can be frustrating for buyers” because of the high demand.


RE/MAX Commercial Builds on Success: Adds Divisions, Records More Transactions, Volume in 2012

PrintDENVER, CO – RE/MAX Commercial experienced impressive growth in 2012 as the commercial real estate market continued to improve. Around the world, RE/MAX Commercial Practitioners were involved in more than 20,400 transaction sides, an increase of 8.4 percent over 2011. And, the 2012 sales volume for RE/MAX Commercial was $7.043 billion, up 17.4 percent from the year before.

“The growth we’ve seen is a tribute to our practitioners, who’ve been working hard in the commercial sector to deliver outstanding service and measurable results to their customers,” said Mike Reagan, RE/MAX Senior Vice President, Business Alliances. “The tools and resources RE/MAX offers gives them a solid foundation and they’ve built on that, finding outstanding success in their local markets.”

In 2012, RE/MAX Commercial grew to 439 offices and divisions, with 3,000 commercial practitioners in 45 countries. RE/MAX Commercial Practitioner Wayne D’Amico is the 2013 president of the Certified Commercial Investment Member Institute (CCIM), the fourth RE/MAX Commercial Practitioner to hold the office in the past 10 years.

In November 2012, RE/MAX launched the first RE/MAX Commercial website,, and in just five months, the number of commercial listings has grown to more than a quarter million. The site positions RE/MAX Commercial Practitioners as the go-to choice for buyers, sellers, landlords, tenants, brokers, bankers, municipalities and other potential clients. It features industry hot topics, research and an advanced search feature that gives the commercial consumer the power to not only find properties, but to locate commercial practitioners in their local markets.

The success of RE/MAX Commercial has not gone unnoticed. In 2011 and 2012, RE/MAX Commercial was ranked in National Real Estate Investor (NREI) magazine’s Top 25 list of commercial brokerage networks. In 2013, for the second year in a row, RE/MAX Commercial ranked on the list of the Top 25 Commercial Real Estate Brands in the Lipsey Company Survey.

RE/MAX Commercial will hold its sixth annual World Commercial Symposium, September 18 – 20 at RE/MAX Headquarters in Denver, Colorado. Each year, the Symposium brings together the best and most productive commercial practitioners in the RE/MAX network.

As part of the RE/MAX system, brokers and commercial practitioners have access to comprehensive professional training from the award-winning, on-demand RE/MAX University, as well as technology resources like LoopNet, Trepp Loan and REI Wise Investment Analysis.

For more information about RE/MAX, please visit or


RE/MAX Celebrates More Than $128 Million in Total Donations

Agents and Offices Donate Over $8 million in 2012

DENVER – As a proud partner of Children’s Miracle Network Hospitals®, RE/MAX, LLC has made a mark – an $8.2 million mark – in contributions to the nonprofit organization over the past year alone.

The partnership between RE/MAX and CMN Hospitals developed in 1992 and has grown continuously since. To date, RE/MAX agents have donated more than $128 million to help fund life-saving treatments with advanced medical equipment, cutting-edge research and continuing education.

“More than 20 years ago, we aligned with an organization that shared the same deeply rooted value of family,” said Gail Liniger, RE/MAX Co-Founder and Vice Chair. “The millions of families our agents have helped Children’s Miracle Network Hospitals reach is beyond what we ever imagined.

”RE/MAX has grown to be one of the leading real state franchise companies with nearly 90,000 agents and a global reach of more than 85 countries. To accommodate the interest in helping sick and injured children across the U.S. and Canada, the RE/MAX Miracle Home® program was launched in 1992. Later, a Miracle Property® program was established for RE/MAX Commercial Practitioners.

In 2011, Dave and Gail Liniger received the Children’s Miracle Network Founders Award. Only six other individuals had received the award, which recognizes North America’s greatest leaders, ranging from CMN Hospital board members and CEOs to fundraising experts.

Last year, RE/MAX and CMN Hospitals designated August as the RE/MAX Month of Miracles. While donations are made year-round, this particular month serves as a reminder to homebuyers and sellers that they can help make a difference too; participating RE/MAX agents will make a donation to CMN Hospitals for each home sold.

“RE/MAX Miracle Agents are exceptional because they incorporate the spirit of giving into each business transaction, raising funds year-round,” said John Lauck, President and CEO, Children’s Miracle Network Hospitals. “Our hospitals are benefiting tremendously from the $8.2 million raised in 2012, and we’re thrilled to start our 30th year on a high note.”

Earlier this month, Children’s Miracle Network Hospitals® announced a benchmark year reaching its 2012 goal of $300 million. With record-breaking contributions, a celebration was held at the CMN Hospitals headquarters in Salt Lake City. And, as promised a year ago, Lauck shaved his head in honor of the accomplishment. Overall, Children’s Miracle Network Hospitals® has raised $4.7 billion for children and their families.

For more information about RE/MAX and its partner organizations, visit

David Lilley Joins Our Team

We are pleased to announce that David Lilley has Joined RE/MAX Destiny.

David began his real estate career in 1981 and quickly became a consistent market leader.                                     His career is quitelilley_david impressive and covers all areas of real estate including development, residential sales and marketing, property management, and real estate finance. In addition to providing a wealth of experience to his clients, David has consistently earned the industry’s top awards for sales performance including; The Exemplar Society Award, Coldwell Banker Diamond Society, which is exclusively awarded to the top 8% of CBRB agents worldwide.

David attended the University of Massachusetts and has completed programs at Harvard Graduate School of Design in Real Estate Development, Northeastern University for Construction Supervision, and he also holds an active Massachusetts Construction Supervision License. David is a lifelong learner and has earned the following Realtor designations: Certified Residential Broker-CRB, Graduate Realtor Institute – GRI, Certified Residential Broker-CRB, and the National Association of Realtor’s Green Designation.

“ It is so exciting to be working with David once again. In thinking back to my formative days in real estate I now realize just how much of an impact he had on my own career. He is a great addition to our team bringing infectious positive energy, wit, humor and unmatched skills, experience and knowledge,” said Broker Owner Paul Turcotte.