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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
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County close-up: Barnstable Spotlight: Bourne
GOSSIP REPORT
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No, the structure in the photo for the second home in this week’s Gossip Report isn’t bigger on the inside. Built in 1880 for a relative of the then-leader of Lipton Tea, the main house has substantial water views framed by well-maintained gardens.
WEEK OF MONDAY, DECEMBER 23, 2024
3.4 percent The year-over-year increase in the statewide median home sale price last month. See Week on the Web on page 2. Source: The Warren Group’s Statistics Module
$4.06 million The mortgage on the fourth home in this week’s Gossip Report. See page 8. Source: The Warren Group
3,545 The number of single-family homes sold statewide in November. See Week on the Web on page 2. Source: The Warren Group’s Statistics Module
$8.89 million The price of the most expensive home in this week’s Gossip Report. See page 8. Source: The Warren Group
11.6 percent The decline in single-family inventory in November. See Week on the Web on page 2. Source: Massachusetts Association of Realtors
6,518 square feet The size of the biggest home in this week’s Gossip Report. See page 8. Source: The Warren Group
5,476 The number of single-family homes for sale in November. See Week on the Web on page 2. Source: Massachusetts Association of Realtors
2,575 square feet The size of the smallest home in this week’s Gossip Report. See page 8. Source: The Warren Group
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.
DOING WELL BY DOING GOOD
When a Bank’s Giving Benefits Its Business, Too Eastern Bank Foundation Builds Lender’s Reputation, Aids Staff Recruitment BY SAM MINTON BANKER & TRADESMAN STAFF
A
s Eastern Bank approaches five years since it de-mutualized and became a publicly traded company, it continues to be an outspoken advocate through the Eastern Bank Foundation. It also reaps some benefits from its giving as customers and employees alike seek it out because of the foundation’s work. Nancy Huntington Stager has been with the Eastern Bank Foundation since its infancy. Today its president and CEO,
she was approached to lead the nonprofit in 2000 and has seen it grow to $250 million. The foundation gives away $12 million to $15 million each year.
The Eastern Bank Foundation gives away between $12 million and $15 million per year, with about half that going towards economic inclusion causes. Eastern Bank started its foundation in 1994 but in 2020 renamed it from the Eastern Bank Charitable Foundation to simply the Eastern Bank Foundation in an effort to show a willingness to partner with communities along with the work the
foundation does being an investment in a community and not just an act of charity. Five years ago, the foundation also turned its focus to economic inclusion. It now devotes half its giving budget to inclusion and economic mobility. While the bank served the Boston community through its role as a financial institution, its leaders wanted to make larger contributions to the community. “Banking services can’t serve, can’t solve every need,” she said. “So, by having a foundation and having the ability to make contributions, both with our time and with our money and with our expertise, we can have even greater impact to make our communities thrive.”
COMMERCIAL CROSSROADS
DESSERT DESIGN
By Steve Adams | Banker & Tradesman Staff
By James Sanna | Banker & Tradesman Staff
Commercial Real Estate PAGE 3
Residential Real Estate PAGE 8
Continued on Page 10
Is Burlington’s Mall Road Boston Architects’ Plan Headed for Dead End? Gingerbread Houses Housing Plan Meets Support Celebrate City and Skepticism from Officials
iStock photo illustration
RESIDENTIAL REAL ESTATE BY THE NUMBERS