Archives

Real Estate Sales Recap 2019

In 2019, the residential real estate market in Massachusetts was for the most part a sellers’ market with lower inventory on the market which therefore generated more competition resulting in higher prices paid by buyers.

The below real estate transactions table of Liberty Commons Condominium Trust sales excludes real estate transactions of less than $1,000. The table is sorted in order by Unit Type (1-4) and Purchase Amount.

Unit Type Unit No Purchase Date Purchase Amount Instrument
1 86 2/15/2019 $111,500 Deed
1 8 3/26/2019 $115,000 Deed
1 49 4/16/2019 $122,000 Deed
1 17 6/14/2019 $122,000 Deed
1 159 5/29/2019 $123,000 Deed
1 31 7/8/2019 $129,000 Deed
1 127 6/20/2019 $129,900 Deed
1 9 9/16/2019 $130,000 Deed
1 9 12/23/2019 $135,000 Deed
1 31 10/11/2019 $138,000 Deed
2 80 10/31/2019 $135,000 Deed
4 83 5/24/2019 $110,000 Foreclosure Deed
4 149 2/15/2019 $147,000 Deed
4 162 11/15/2019 $155,000 Deed
4 51 9/18/2019 $165,900 Deed
4 93 10/28/2019 $169,900 Deed
4 3 1/28/2019 $179,000 1 Deed

There are four Unit Types at Liberty Commons Condominium Trust, as defined in the Master Deed that are generally legally described as follows:

  • Unit Type 1 is a one-bedroom middle garden-style Unit with 1 bath. None of the the middle garden-style Units are 2-bedrooms, 1.5-bedrooms or have a “walk-through” bedroom.
  • Unit Type 2 is a one-bedroom end garden-style Unit with 1-bath.
  • Unit Type 3 is a two-bedroom end garden-style Unit with 1 bath.
  • Unit Type 4 is a two-bedroom townhouse Unit with 1.5 baths. There is no distinction between middle and end townhouses in the Master Deed.

Historical Perspective

For historical perspective, the below table documents the number of sales per year and the minimum and maximum sale prices for all Unit Types for the 132 Units at Liberty Commons Condominium Trust. All condominium Units were rented by the Developer from 1995 until sales began on April 1, 2002. Again, the real estate transactions table below represents all transactions excluding transactions of less than $1,000 and includes all sales, foreclosures, executions, short-sales or other types of real estate transactions.

Sales Year Year Transactions Min Max
1 2002 134 $80,100 $150,000
2 2003 20 $103,500 $170,250
3 2004 22 $135,000 $181,000
4 2005 22 $153,000 $206,000
5 2006 18 $145,900 $204,000
6 2007 9 $150,000 $190,500
7 2008 16 $111,724 2 $170,000
8 2009 4 $130,000 $167,000
9 2010 9 $107,000 2 $155,000
10 2011 5 $68,000 $155,556
11 2012 10 $77,000 $156,440
12 2013 6 $77,000 $140,000
13 2014 8 $70,000 2 $130,900
14 2015 16 $78,900 $132,900
15 2016 26 $43,000 2 $145,000
16 2017 20 $111,900 $147,000
17 2018 25 $10,094 2 $159,248 3
18 2019 17 $110,000 $179,000 1

Condominium ownership tends to be transitional more so than single-family houses with a dependency on the “individual” Unit Owner(s) and life events (i.e., retirement, marriage, divorce, career changes, births, deaths, health and physical challenges, financial windfalls or setbacks, realization that condominium living just isn’t for everyone, etc.), therefore, no meaningful or definitive conclusions can be drawn from the number of transactions per year. Certain individuals may choose to put their “spin” on these numbers, however, it would be their own personal “opinion” that is probably based upon some sort of bias and not substantiated by “actual facts” that are widely accepted by real estate analysts.

Types Of Transactions

Real estate transactions excluded were those less than $1,000, which are typically adding or removing an individual on a deed, life estates, transfers to a trust or out of a trust, etc. Units at Liberty Commons Condominium Trust has a history of a ±4% foreclosure, lender or other takings over the period of 2002 to 2019.

Year Deeds Foreclosures or Takings
2002 134 0
2003 20 0
2004 22 0
2005 22 0
2006 18 0
2007 8 1
2008 13 3
2009 4 0
2010 6 3
2011 5 0
2012 10 0
2013 6 0
2014 7 1
2015 14 2
2016 24 2
2017 19 1
2018 23 2
2019 16 1
Total 371 16

The information contained throughout originated from the Worcester County North Registry of Deeds, a public records source and the official record of real estate transactions and other records.


1 The sale of Unit 3 for $179,000 was an outlier and the true range for Unit Type 4s was between $110,000 to $169,900 for 2019.
2 The minimum sales amount denotes foreclosures, executions or other types of takings by the mortgage holder. In 2008 was a foreclosure(s) and the next closest deed was $112,000, in 2010 was a foreclosure(s) and the next closest deed was $125,000, in 2014 was a foreclosure(s) and the next closest deed was $87,500, in 2016 was a foreclosure(s) and the next closets deed was $99,900 and in 2018 was an execution and the next closest deed was $99,000.
3 The maximum sales amount denotes a foreclosure by the mortgage holder and the next closest deed was $152,000 for 2018.

Leave a CommentPlease be polite. We appreciate that.

This site uses Akismet to reduce spam. Learn how your comment data is processed.