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Needham MA Office Park Eventually Will Bring Millions in Tax Revenue
Towns look to commercial office parks for tax relief. Needham is one of those towns. A Boston Globe article excerpt below describes how the 2.5 million square feet in new office could bring millions in tax revenue. The good news about Needham is the lower tax rate we have in comparison to other towns.
Needham's commercial office park will once again bring home tax relief without the overhead.
Needham "Town Meeting voters approved changes in the zoning rules to encourage development in the property, off the highway’s Exit 19A. The changes will allow for taller buildings and as much as 2.5 million square feet in new office space, growth that could eventually bring in millions in tax revenue for Needham each year, Bailin notes."
The revamp is badly needed at the business center, more than 50 years old. It once accounted for as much as 22 percent of Needham’s tax revenues, but that number is just 11 percent now.
"Meanwhile, the value of residential property in Needham has soared, with the town featuring some of the area’s highest home prices. The median home price stood at $649,400 as of last month, up nearly $20,000 over the end of 2010, according to the Warren Group, a Boston-based real estate data firm and publisher." Boston Globe January 22, 2012

For full article.
Two articles on this subject in Needham Times
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NEEDHAM, MA OPEN HOUSES SUNDAY JANUARY 22
Sunday once again in Needham there is a great selection of homes that have Open Houses. The prices range from $449,000 to $2,225,000.
There are just 100 homes on the market with an average list price of $1,336,012, which includes the highest property of $18,000,000. There are also included in this list some new condos/townhouses.
Weather should be nicer than today so that will make the drive a whole lot better.
SINGLE FAMILY HOMES
MLS # Address Description DOM Date/Time List Price
71316512 48 Taylor St 10RM, 3BR,3.5BA Ranch 49 1/22 11AM to 2 PM $729,000
71324315 88 Old Farm Rd 12RM, 6BR, 4.5BA Col. 126 1/22 11 AM to 1 PM $1,479,000
71216331 314 Cedar St 10RM, 5BR, 3f 2h BA Col 282 1/22 11:30 AM to 12:30 PM $1,150,000
71221790 80 N Hill AVE 10RM, 4BR, 3f 1h BA Col 395 1/22 12 PM to 2 PM $1,149,000
71246776 375 Hillcrest Rd 11RM,4BR,4.5BA Col 226 1/22 12 PM to 2 PM $1,379,000
71246903 74 Charles Riv St 10RM, 5BR, 3.5BA Col 207 1/22 12 PM to 1:30 PM $1,189,000
71274339 59 Norfolk St 7RM, 4BR, 2BACol 162 1/22 12 PM to 2 PM $469,000
71276954 126 Jarvis 9 RM, 5 BR, 3.5BA Col 156 1/22 12 PM to 2 PM$1,200,000
71302978 535 Great Plain 11RM,4R,2f,2h BA Cape 93 1/22 12 PM to 1 PM $749,000
71311210 91 Mary Chilton Rd 9RM, 4BR, 3f BA RR 68 1/22 12 PM to 1:30 PM $632,500
71326252 1022 Webster ST 7RM, 3BR, 1BA Col 10 1/22 12 PM to 1:30 PM $489,000
71327929 82 Curve 7RM,3BR,1.5BA Col 5 1/22 12 PM to 1:30 PM $579,900
71302528 84 Beard Way 11RM, 6BR,6f,2hBA,Col 278 1/22 12:30 PM to 2 PM $2,225,000
71326424 39 Thurston Ln 12RM, 5BR, 5.5 BA Col 118 1/22 12:30 PM to 2PM $1,473,000
71326500 20 Glover Rd 8RM, 3BR, 1f 2h BA Split 9 1/22 12:30 PM to 2 PM $579,000
71312024 832 Webster St 7RM, 3BR, 2f 1h BA Col 66 1/22 12:30 PM to 2PM $749,000
71314294 81 Avon Circle 10RM, 5BR, 4.5BA Col 252 1/22 12:30 PM to 2 PM $1,149,000
71281890 31 Fairview Rd 9RM, 4BR, 1.5BA Col 241 1/22 12:30 PM to 2PM $580,000
71289773 Lot 25 Lake Dr 8RM, 4BR, 2.5 BA Col 124 1/22 12:30 PM to 2PM $1,249,000
71294409 286 Hunting Rd 7RM, 3BR, 1.5BA Col 113 1/22 12:30 PM to 2PM $499,000
71309485 309 Central Ave 10RM,4BR, 2.5BA Col 228 1/22 1 PM to 2:30 PM $899,000
71309759 595 Webster St 5RM, 2BR, 2BA Cape 73 1/22 1 PM to 2:30 PM $449,000
71317828 175 Richardson Dr 10RM, 4BR, 2f 1hBA Col 44 1/22 1 PM to 2:30 PM $929,000
71317829 10 Longacre 12RM, 5BR, 3f 1h BA Col 171 1/22 1 PM to 2:30 PM $1,449,900
71322470 Lot 28 JARVIS CIR U:60 9RM,4BR,2.5BA Col 20 1/22 1PM to 3 PM $779,000
71322471 Lot30 JARVIS CIR U:74 8RM, 4BR,2.5BA Col 21 1/22 1 PM to 3 PM $729,000
71295284 289 Hillcrest RD 7RM, 3BR, 2f 1h BA Co 110 1/22 2 PM to 3 PM $699,900

Home of the week - Mary Lou Roadman is the list agent from Coldwell Banker Residential Brokerage
(617) 710-6850
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So the weather has felt like spring was coming until now but the artic air is coming in. In spite of the cold we have 34 open houses starting at 11:00 with the last one starting at 2:30 on January 15 and there is a great selection of homes to choose from.
The football game will be behind us and the winner team decide. Choose the home that is a winner for you and your family. With historical interest rates and homes more affordable than ever what better time could there be.
Those homes that are not on open house tour would be available by appointment of course.
| 34 Listings |
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We can all agree the year 2011 was an interesting year for real estate and Needham was interesting too.

One thing most people do not know is what firms have the market share in the sides sold
and the % of $ volume.
Coldwell Banker Residential Brokerage - all office Market Share for 2011 in Needham is 113 units and in dollar volume it represents a total of $90,613,980 which is the #1 spot in the town of Needham for home sales.
The total home sales in Needham in volume was 281 units.
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Needham, MA Norfolk County RE Market Report for 2011

There were 280 homes that closed in calendar year 2011.
There were 306 homes sold in calendar year 2010.
Units sold in 2011 was a decreased by 8.5% 26 homes over 2010 but the there was a slight increase in the asking price by 1.0088%. and 1.02% increase in sales price.
The Average list price for the homes that closed in Needham for the year 2011 was $847,445
The Average list price for the homes that closed in Needham for the year 2010 was $840,063
The Average sale price for the homes that closed in Needham for the year 2011 was $819,163
The Average sale price for the homes that closed in Needham for year 2010 was $805,643
The Average Market time for the homes that closed in Needham for your 2011 was 100 days.
The Average Market time for the homes that closed in Needham in year 2010 was 90 days.
In the year 2011 53 homes sold between $1,000,000 and $1,499,999
In both 2010 and 2011 Needham homes sold for 97% of the list price.
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