B&T September 10, 2018

Page 1

SUBSCRIBE TODAY! VISIT WWW.TRYRERS.COM

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

PAGE 6

County close-up: Norfolk Spotlight: Medway

HOT PROPERTY

PAGE 7

Cresa hired Boston-based architects TRIA to provide interior architecture and corporate design services, creating an open and collaborative workspace that maximizes natural light and offers commanding Boston Harbor views.

WEEK OF MONDAY, SEPTEMBER 10, 2018

BANKING & FINANCE BY THE NUMBERS

COMMERCIAL INTERESTS

17% The percentage of people in Hampden County who live below the poverty line. See Bram Berkowitz’s story on page 8 for more. Source: Office of the Comptroller of the Currency

$65 million National Development’s mortgage from Santander for two properties in South Boston. See Week on the Web on page 2. Source: National Development

59% The percentage of Massachusetts students who graduated with an average of $31,319 in student debt in 2017. See Week on the Web for more on page 2. Source: LendEDU

$30 million The amount of capital that New Valley Bank & Trust hopes to raise. See Bram Berkowitz’s story on page 8. Source: New Valley Bank & Trust

120 The number of state-chartered banks in Massachusetts. See Bram Berkowitz’s story on page 8 for more. Source: Massachusetts Division of Banks

88% The percentage of active banking users accessing their savings accounts digitally. See Aite Group column for more on page 9. Source: Shawmut Design and Construction

$1,000 The amount Northern Bank is donating to nonprofit Heading Home Inc. as a part of its “Taking It to the House” campaign to fight homelessness. Source: Northern Bank

SALES SLOW AMID RELENTLESS PRICE INCREASES

July Stats Show Some Relief for Buyers; Sales Flat for the Year BY SCOTT VAN VOORHIS

MEDIAN SALE PRICES

BANKER & TRADESMAN STAFF

F

rom the Back Bay and South Boston to the commuter suburbs on Route 128 and I-495, home prices in the Boston area and across Massachusetts are smashing one record after another. But what goes up must come down, in-

Median Sale Price

Change from 2017 No. of Sales Change from 2017

MIDDLESEX COUNTY NORFOLK COUNTY

$555,500 $515,000

-1% -5%

6,605 3,849

9% 6%

SUFFOLK COUNTY

$549,000

-7%

826

12%

• All figures are for single-family home sales, year to date through July • Source: The Warren Group

cluding the seemingly invincible Greater Boston real estate market. Fears that a growing number of buyers were being priced out of the party were seemingly eased with the 6.8 percent increase in homes sales in July after months

of declines. Yet putting much stock in one month’s numbers – and a rather modest increase at that – is risky business. July’s numbers aside, home sales in Massachusetts were down or flat for the

Continued on Page 3

25% The percentage of Hampden County that is either unbanked or underbanked. See Bram Berkowitz’s story on page 8. Source: FDIC

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

T H AT ’ S T H E T I C K E T

NEW DE NOVO

Potential Sale Offers In-Fill Development Opportunity

Proposal Went Before State Board of Bank Corporations

Battle Brews Over Boston Tow Lot By Steve Adams | Banker & Tradesman Columnist

Commercial Real Estate PAGE 7

Springfield De Novo Plans to be Bank for Small Business Owners By Bram Berkowitz | Banker & Tradesman Staff

Banking & Lending PAGE 8


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.