At the end of April, the US Department of Labor announced a final rule from the Biden Administration dealing with salary workers and overtime pay. The new rule will raise the salary threshold under which salaried employees are eligible for overtime in two stages. The first, starting on July 1, will raise the threshold to the equivalent of an annual salary of $43,888 or $844 a week, and then to $58,656 or $1,128 a week on January 1, 2025. Starting on July 1, 2027, the salary threshold will be updated every three years. This rule updates the current threshold of $35,568 or $684 per week that was put in place in 2019 during the Trump Administration. The Chamber is continuing to monitor this issue.
State Affairs:
In March, the Chamber gathered members of the region’s legislative delegation for our Annual Legislative Briefing. We engaged in productive dialogue surrounding our priorities for FY25 in the areas of small business support, tourism, and education and workforce. The meeting also provided an opportunity to showcase the efforts of the Chamber and our members during the past year and provide an update on our One North Central Initiatives.
As highlighted in her administration’s economic development plan, Governor Maura Healey is placing a focus on tourism as a way to bring more revenue to the Commonwealth. Following a decade long hiatus, the Healey-Driscoll administration brought back the annual Governor’s Tourism Conference. The daylong event provided the opportunity for us tourism affiliate, Visit North Central Massachusetts, to showcase the latest version of our guide, and interact with other regional tourism councils and stakeholders. The administration also unveiled the logo for the Massachusetts 250th anniversary campaign.
The House passed their version of a budget bill for FY25 in late-April to the tune of $58 billion. The budget aims to push overall state spending up by around 3.3 percent, but lawmakers are more conservative heading into this year with less than anticipated revenues coming in over the past year. The Chamber spent time in April leveraging our relationships with the regional delegation and our multiple coalitions we are a part of to advocate for a number of priorities in the areas of economic development, workforce, education and tourism throughout the budget process. At the time of this writing, the Senate is preparing to unveil their initial version of the budget which will be followed by debate, and then conference committee to reconcile the different versions. We will continue our advocacy efforts throughout the remainder of the budget process.
In April, members of the Chamber’s Community Leadership Institute class were brought to Boston for their April session. The class was recognized in both the House and Senate Chambers with Senator John Cronin and Representatives Natalie Higgins, Meg Kilcoyne, and Mike Kushmerek and staff from Representative Kim Ferguson providing insight into the legislative process for both bodies. During a luncheon, Senator Jamie Eldridge also joined the delegation for a panel discussion on legislation they are currently working on. We were also joined by Secretary of State Bill Galvin, Secretary of Veterans Services Jon Santiago, and State Representative Kip Diggs for a policy discussion. The Chamber would like to extend our thanks to the regional delegation for their participation in this annual event and for taking the time to engage our CLI class.
Local Affairs:
The town of Sterling is looking to update its zoning, with a particular focus on their performance zone area near the West Boylston line. Chamber staff participated in a forum held by the town in March and met with the town’s Economic Development Committee in April where we discussed aspects of the One North Central plan that may be beneficial while working on updates.
If you have any questions or concerns, please feel free to contact Travis Condon, the Chamber’s public affairs manager, at 978.353.7600, ext. 224; or via email at .
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | Community Development | Economic Development | Legislative Issues | Government Affairs | Elected Officials
Ice Cream. Grandma’s Favorites. Paddling Fun. And Putting Your Green Thumb to the Test
From delicious treats, opportunities to learn about gardening, and even a salt room to enjoy for a little self-care, our region’s small businesses are ready to welcome you and your family (and even your pets!) to engage, rejuvenate and enjoy the best our region has to offer this summer.
So, grab your hat and some sunscreen, and check out these small businesses and the many others found in our Member Directory to plan a summer of fun here in North Central Massachusetts.
What started as a family dairy farm in 1911, Rota Spring Farm expanded its offerings in 1997 after David Rota wanted to diversify his business.
“As milk prices would fluctuate, I realized I needed to do something to diversify and maintain my cash flow,” said Rota, owner of the farm. “I talked with friends in the farming industry who opened ice cream stands and built a four-window stand 27 years ago. Now, we are an eight-window stand providing ultra-premium ice cream you cannot purchase anywhere else.”
In addition to ice cream, Rota dishes out traditional family favorites to customers, including his Italian grandmother’s meatballs and meat sauce. “We have tomatoes that were brought here from Italy by my grandfather many, many years ago,” he added. “We also offer on-the-go meals featuring Shepard’s pie, chicken pot pie, soups, grass fed beef, and our roast beef sandwiches are second to none.”
The farm boasts more than 15 acres of vegetable fields, which include honeybees that provide honey for purchase in the Farm Store. Visitors can explore the property, watch the cows and goats, and in the fall, enjoy pick-your-own pumpkins and hayrides.
Where to indulge
When to visit
Farm Store
Learn more
Extra toppings
117 Chace Hill Road, Sterling
Ice Cream Stand: May to August: 11:30 a.m. to 9:30 p.m., September: 11:30 a.m. to 9:00 p.m., October: 11:30 a.m. to 8:00 p.m.
open all season, 10 a.m. to 7 p.m. (All hours subject to change contingent on weather.)
The limited-edition and very popular lavender flavored ice cream is on deck for June and July.
Building teams and having fun on the Nashua River Nashoba Paddler www.nashobapaddler.com
Located in Groton, Nashoba Paddler has been offering canoes, kayaks, and stand-up paddleboard experiences on the beautiful, friendly Nashua River for nearly 30 years. Owner Diane Carson said the business offers something for people of all ages who want to enjoy nature and the beauty of the river.
“There is so much opportunity for outdoor recreation in our area, and I think this is something more people have become interested in,” she said. “Kayaking and canoeing are great for families, and we also welcome groups and businesses who want to get out of the office for team building activities, especially in a canoe.”
Nashoba Paddler also offers a summer camp for children aged 6 to 14, instruction for kayaking and canoeing, and they partner with the Nashua River Watershed Association’s River Classroom school programs. “We offer guided tours on the river, full moon canoeing, and there’s always the opportunity to rent boats on your own from our rental base to explore and check out wildlife, too!”
While there are no specific places to enjoy a picnic on the river, Carson said they have a couple of picnic tables at their rental base for people to grab a bite.
“The thing about the Nashua River that is really unique is that there is very little development along it so you can feel like you are in the middle of nowhere, but still be very close to home.”
Where to set sail
When to visit
Learn more
398 West Main Street, Groton
On weekends and holidays in the Spring and Fall, daily in Summer • April 17 to June 16: 9:30 a.m. to 6:30 p.m. • June 17 to September 2: 9:30 a.m. to 6:30 p.m. • September 3 to October 20, 9:30 a.m. to dusk
The Altobelli Family is all about education and community, so it felt natural for them to purchase the former Agway in Gardner with the aim of helping people, whether it be with plants or animals, and implementing workshops designed to educate or just be fun.
The Good Earth Farm & Garden Center, which still displays the old Agway sign on its east wall as a nod to the past, was founded by Jacquelin Altobelli and five other family members in 2022.
“North Central Massachusetts needed this store to keep going,” she said “And while the old Agway provided high-level service, we’ve taken it to a different level. We realized we needed to improve offerings and make the business more community oriented with educational classes that bring people together. And don’t get me started talking about the plants in our side-yard and local pollenators—it’s my Zen place come Spring! I drink a cup of coffee here every morning before we open.”
In addition to a vast array of annuals, perennials and vegetable plants, and everything to grow them successfully, the store offers farm animal feeds and supplies (they are a direct distributor of Poulin Feeds, a local, family-owned company), pet foods and supplies, lawn care products and a variety of classes on everything from mineral mixing, raised bed and container planting, growing herbs, as well as some workshops for kids.
“We recently held an Easter egg decorating class and a May Day basket making class,” she added. “We offer classes aimed at different interests because we want to build a bigger sense of community. And we love it when customers bring their pets in—they’re part of our community, too! Plus, even if you don’t have a green thumb, we believe anyone can grow anything with the correct information and we’re here to help.”
At the heart of the store? “Our staff,” said Altobelli. “From ages 17 to 70, they’ve thrown themselves into this with a humbling amount of heart. We wouldn’t be anywhere without them.”
Where to grow your garden
Join a class
Find local treasures
Learn More
633 West Broadway, Gardner
Enroll in a class on mineral mixing, creating a pollenated garden and feeding plants, and more by calling 978-632-0991.
Be sure to check out the many local vendors on display at The Good Earth for honey, crafts, window boxes, wind spinners, wooden utensils, maple syrup, and more!
When Kayla Nault learned about an available vacant building with a greenhouse in Leominster, she found an opportunity to bring her passions to the community. Now six years later, Nault is leading three businesses offering home décor, fresh flowers, plants, crystals, and holistic health in our community.
She first opened Sage Home Collections in Leominster, which provides plants, crystals, and other goods, and then expanded to open Salt and Sage on Main in Townsend, which offers a salt room, stationary, and easy-care plants, among other items. Most recently, Nault acquired Debonis and Davin Florists, a long-standing business in Fitchburg, where she offers fresh flower arrangements and plants, as well as a large gift shop.
“I’ve always loved plants and crystals, so my business is a natural progression of my hobbies,” said Nault. “And with Debonis and Davin, we are able to offer beautiful flower arrangements, as well as grab-and-go bouquets at our Leominster location.”
The flower shop also affords Nault a creative outlet to play with a variety of locally grown, beautiful flowers to make unique arrangements. “We have a small piece of land where we are growing our own flowers right here in North Central,” added Nault.
While orchids are her favorite flower, Nault also loves to surround herself with fluorite, her favorite crystal. “Fluorite comes in so many colors, green, purple and blue,” she said. “But honestly, it’s hard to pick just one favorite crystal!”
This summer, Sage Home Collections will offer their popular “Wine Down Wednesdays” event once a month on a Wednesday evening in the summer, which features local vendors, food, and wine, beer, and other beverages for purchase. “It’s a great meeting spot after work,” she added. “We just want people come hang out in the backyard, do a little shopping and enjoy great food.”
Where to plant your feet
Get salty!
Learn More
Sage Home Collections, 137 Mill Street, Leominster; Salt and Sage on Main, 422 Main Street, Townsend; Debonis and Davin Florist, 900 Main Street, Fitchburg
Salt and Sage on Main is home to one of the region’s salt rooms, a natural and holistic approach to wellness that harnesses the healing properties of salt to promote respiratory health, alleviate stress, and enhance overall well-being. Summer special $20 Thursdays for 45-minute session, book online! And be sure check out Salt and Sage on Main’s one-year anniversary celebration in August!
Chamber of Commerce | North Central Massachusetts | New England Town | Small Town Economy | Worcester County | Local Business | Visit North Central Massachusetts | Rota Springs Farm | Sterling, MA | Nashoba Paddler | Nashoba, MA | Good Earth Farm & Center | Gardner, MA | Salt & Sage on Main | Leominster, MA | Massachusetts Business
Be part of something meaningful at the North Star Family Services, Inc. Bidding on New Beginnings auction! Bid on incredible items to bring hope to homeless families. Your support creates a significant impact for families in our community.
Thursday July 18 –Monday July 29
6:00 AM – 11:45 PM
North Star Family Services, Inc., 758 Main St, Leominster, MA 01453
Saturday July 13, 2024
12:00 PM – 7:00 PM EDT
Downtown…Gardner City Hall, 95 Pleasant Street, Gardner MA 01440
Admission to this event is FREE!
The Gardner Food Truck Festival is an annual community oriented summer kick off celebration. Now in it’s 7th year, this festival includes a multitude of your favorite food trucks, craft beer, live music and carnival style games. Dozens of area artists and makers will be displaying their wares right downtown by the historic City Hall and Post Office buildings. This year the festival is back and bigger than ever. Bring along a folding chair or spread a picnic blanket and enjoy the afternoon’s festivities.
WooTrucks, the trusted name in food truck booking, is a food truck commissary, commercial kitchen, and base of operations for food trucks, caterers, bakers, and food entrepreneurs located at 67 Main Street, Boylston MA. Our fully permitted and approved facility to prepare food was established to foster a transparent, self-policing community of food trucks and food entrepreneurs practicing only the highest standards of customer service while maintaining strict adherence to health, sanitation and food codes. WooTrucks operates food truck festivals throughout the region and supplies food trucks to corporate clients, private businesses, breweries, academic institutions, city and town governments.
Attend NXT Level Studios for a night of storytelling with local author, Matt Landry, Author of: Keep Moving Forward.
FREE PRESENTATION & BOOK SALE
“The healing connection between nature and mental health. How hiking can teach us the lessons we need to learn in order to enjoy the journey, achieve our goals, create structure and discipline, slow down our brains, and to keep moving forward, one small step at a time..”
Date: Tuesday, 7/09/2024
Time: 6:30pm – 8:30pm EDT
Location: NXT Level Studios
44 Old Princeton Road Suite 101, Fitchburg, MA 01420
ATTENTION BUSINESS OWNERS
Was your business impacted by the flooding on September 11, 2023?
The Small Business Association (SBA) is in the city of Leominster providing resources for business owners.
SBA and FEMA have representatives available at the Disaster Recovery Center located at City Hall to help answer your questions Monday-Saturday from 9am-7pm until July 15.
The SBA also has a Business Recovery Center located at the Emergency Management Office at 37 Carter Street with someone available to assist you Monday-Friday from 9am-5:30pm.
Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
Barbara Mahoney, president and CEO of Leominster Credit Union, has been elected Chair of the North Central Massachusetts Chamber of Commerce board of directors for 2024-2025
Barbara Mahoney, president and CEO of Leominster Credit Union, has been elected Chair of the North Central Massachusetts Chamber of Commerce board of directors for 2024-2025. The announcement was made at the Chamber’s Annual Meeting on June 20, 2024. As the Chair of the Chamber’s board of directors, she will work with fellow board members, Chamber staff, and membership, to champion the Chamber in its mission to serve the region’s business community.
Mahoney was named president and CEO of Leominster Credit Union in 2020. She first joined the credit union in 2003 as Vice President of Human Resources and rose through the ranks to become Senior Vice President and Chief Operating Officer in 2019. Founded in 1954, Leominster Credit Union is a member-owned, not-for-profit cooperative financial institution headquartered in Leominster, Mass. The credit union offers a full range of deposit, lending, and other financial services to more than 40,000 members in North Central Massachusetts.
In addition to her involvement with the Chamber, Mahoney serves on a number of boards and charitable organizations, including the Boys and Girls Club of Fitchburg/Leominster, MassHire North Central Workforce Board and the St. Bernard’s High School Foundation.
She succeeds James Vander Hooven, president of Mount Wachusett Community College, who now moves to the position of Immediate Past Chair of the board of directors.
“The Chamber is a dynamic and well-respected organization that plays a critical role in the economic development, tourism, workforce and community engagement for our region,” said Mahoney. “I am eager to work in collaboration with my esteemed board members to enhance the work done by Jim Vander Hooven and the current board to ensure our region continues to prosper for our businesses, provides a warm welcome for our visitors, and continues the strong community traditions that make our region a great place to call home.”
Mahoney was first elected to the Chamber’s board of directors in 2021 and has held several leadership positions, including Vice Chair and Treasurer. She also served on the Chamber’s Leadership Council, and the One North Central Leadership and Executive Committees.
“Barbara has made a significant impact in advancing and advocating for the Chamber over a number of years and in various roles,” said Roy Nascimento, president and CEO, North Central Massachusetts Chamber of Commerce. “Through her respected leadership, Barbara will continue to support our goals while advancing the interests of our members and that of our region.”
In the same election, Tony Fields, president, Clear Tech Group, based in Leominster, was elected Vice Chair. Allie Catlin, owner, Smith’s Country Cheese, located in Winchendon, was elected to the position of Treasurer.
North Central Massachusetts Chamber of Commerce Board of Directors for 2024-2025
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Elected Officials | Community Leadership | Chamber Annual Meeting | Barbara Mahoney
Free one-on-one counseling and technical assistance is available to entrepreneurs and existing businesses in North Central Massachusetts through a partnership between the North Central Massachusetts Chamber of Commerce and the local chapter of the Worcester SCORE Chapter. SCORE (Service Corps of Retired Executives) is a national nonprofit association supported by the U.S. Small Business Administration that is dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. They have a network of 11,000+ volunteer business mentors who provide advice on every aspect of business planning, start-up, management and growth.
SCORE operates a satellite office at the North Central Massachusetts Chamber of Commerce. SCORE mentors Johanne Cimon and Gerry Gates are available by appointment to meet with any prospective or existing small businesses at the Chamber office. Ms. Cimon’s main mentoring skills are Accounting, Operations, Human Resources, Marketing and Business Planning. Mr. Gates’s main mentoring skills are Business Strategy and Planning, Operations, Management, Budgeting, Culture and Team Building and Recruiting.
Services available include assistance with developing business plans, marketing plans, securing financing, cash flow, and other areas critical to ensure a successful venture. Clientele includes start-up, early-stage, expanding, and troubled businesses. All programs of SCORE are offered to the public at no charge, on a non-discriminatory basis, and are handicapped accessible.
To schedule an appointment with a SCORE counselor, please contact the North Central Massachusetts Chamber of Commerce at 978.353.7600 ext. 222. For more information about SCORE, visit https://www.score.org/worcester.
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Business Growth | Business Development | Business Technical Assistance | Business Resources | Massachusetts Business Environment
Domination Plumbing and Heating of Leominster started in business just 5 years ago servicing resident and commercial customers. They now service much of Central Massachusetts and even stretch into Boston. They have grown their business specializing in both service work for home and business owners, as well as new construction and remodels for residential homes and commercial buildings, according to owner Dominic Arsenault.
As a testimony to Domination’s achievements, Dominic notes “This company, from where we started of just myself as an employee to now over 15 employees, is my biggest professional achievement. Growing up I struggled with school and having my own company was really never in the vision. After working for multiple plumbing companies out of school and gaining meaningful experience, it gave me the passion to want to have my own business. It was not easy to get to where we are today but to see the growth over the years makes it all worth it. And knowing we have so much more growth left in this continuously evolving trade gives us something to always work towards.
In describing Domination’s work environment, Dominic says “I would describe our company’s culture as youthful and driven. We are a group of younger people that have the passion to serve our customers till they are completely satisfied.”
Supporting the local community is very important to the company, noted Arsenault. “We have increased our involvement in the local communities a lot over these past few years,” he added. “Last year we were excited to be part of the Johnny Appleseed Fest and will continue to have a booth there again this coming year. We joined the North Central Chamber to help assist us in being more involved during 2024 and the years to come. We are excited for all the new faces, business, and ventures that the Chamber will bring us.” He also noted that supporting the community was instilled on him at an early age. “Our mother was a Chamber member years ago when she was an independent sales director for Thirty One Gifts,” he added. “We would watch her to go all these events and form so many meaningful relationships, that we knew we needed to join as well to meet so many local people and businesses and start creating our own meaningful relationships.”
When asked who has been your or your company’s strongest influences, Dominic proudly stated “This company was originally influenced by our Dad and Uncle, who we watched growing up working tough blue collar jobs. Our Uncle owns his own HVAC business and seeing how well he supported his employees, himself and family made me realize I wanted to do that for others as well one day.”
When looking toward the future for his business, he feels it is “limitless.” “We are excited to grow our HVAC team over the next year, as well as grow our service area to cover more of Massachusetts,” he said. “Our vision one day is to be a, ‘one stop shop’ company that provides all home services.”
Domination relies on social media as one of its primary ways to promote the business. “We have had much success in promoting our business online through social media,” noted Arsenault. “We love to post funny videos on our Tik-tok and Instagram, as well as information videos to help with common issues on Facebook.”
The company website probably sums up their business style the best, noting “We saw that people were searching for dependable plumbing and heating service that wouldn’t let them down… From day one, our mission has been clear – do the job right the first time. So next time your pipes act up or your heater’s on the fritz, remember – we’ve got your back!” Contact info: ; 978.602.7547
Leominster | Domination Plumbing & Heating | Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Chamber Member | Massachusetts Business | Worcester County | Community Support
More than 1,000 Berkshire Bank employees rolled up their sleeves on June 13 and helped make the communities where they live and work stronger and more resilient by volunteering at more than 45 local nonprofits across the bank’s markets as part of Xtraordinary Day (X Day), the bank’s annual day of service.
Every year, Berkshire closes all of its financial centers and offices at 12 p.m. to host X Day, which supports nonprofits that address hunger, homelessness and affordable housing and aim to create a more equitable, just and sustainable future.
In all, employees participated in more than 50 X Day projects in Massachusetts, New York, Connecticut, Vermont and Rhode Island, as well as one in Pennsylvania that was supported by colleagues at Berkshire’s nationwide SBA lending division 44 Business Capital.
In Massachusetts, Berkshire participated in projects that benefitted:
Berkshire Botanical Gardens and Construct in Stockbridge;
Berkshire HorseWorks in Richmond;
Bina Farm in Lexington;
Veterans Inc., Boys & Girls Club of Worcester, Habitat for Humanity of Metro West Greater Worcester and Hope for Worcester in Worcester;
Central Berkshire Habitat for Humanity and the Gladys Allen Brigham Center’s Girls Inc. camp in Pittsfield;
Child Care of the Berkshires in North Adams;
Cradles to Crayons in Newton;
Girls Inc. of Worcester in Holden;
Lee Youth Commission in Lee;
Massachusetts Coalition for the Homeless in Lynn and Westfield;
Milford Veterans Services in Milford;
ReGreen Springfield in Springfield;
Ron Burton Training Village in Hubbardston;
United Way of Tri-County in Clinton;
West Stockbridge Historical Society in West Stockbridge.
“At Berkshire, giving back to our communities is a top priority,” said Lori Gazzillo Kiely, Managing Director of the Berkshire Bank Foundation. “We know that building stronger
communities requires a better approach to banking and our employees work tirelessly every day to deliver on that promise.”
Named for the X in its logo, Berkshire’s award-winning XTEAM Employee Volunteer and Giving Program is a central element of its workplace culture, providing employees with an easy way to put its corporate values into action and help each of our communities realize its full potential.
In 2023, Berkshire employees logged more than 21,000 hours of volunteer service. In addition to the hours contributed through X Day, all Berkshire employees are eligible for up to 16 hours of paid time off annually to volunteer with nonprofits of their choice.
Article Source: State House News Service
Author: Colin A. Young
Prices Rose In May But Market Activity Outpaced May 2023
For the second straight month, the number of single-family homes sold in Massachusetts in May was up compared to one year earlier, but the increase in sales did not take any pressure off the pricing side of the equation as a backlog of demand among house hunters keeps prices hovering at or near all-time highs.
The real estate market analysts at The Warren Group reported Tuesday that there were 3,887 single-family home sales in Massachusetts last month, representing a 7.5 percent increase over the 3,616 sales recorded in May 2023 and just the fourth time in almost three years that home sales were up from the same month a year prior.
But even as sales were up, so too were sale prices. The median single-family home sale price was up 7.9 percent year-over-year basis to hit $636,000 in May, a new all-time high for the month.
“Remarkably, during the same period, the median sale price climbed almost 8 percent to reach an all-time high of $636,000. Typically, increased sales would temper price growth, but the pent-up demand from homebuyers is redefining market dynamics,” Cassidy Norton, The Warren Group’s associate publisher, said.
Sales volume was up last month in every county except Bristol, Plymouth, Franklin and Nantucket counties. In both May and through the first five months of the year, Berkshire County saw the greatest percent increase in single-family home sales. The county’s 112 sales last month were up 31.8 percent over May 2023, and the 399 sales there so far this year represent an 11.1 percent increase over a year prior.
Berkshire County was also one of two (along with Dukes County) to post a decline in the median sale price from May 2023 to May 2024, dropping 1.5 percent from $325,000 to $320,000. On Martha’s Vineyard, the median sale price dropped nearly 25 percent from $1,600,000 to $1,216,250 in May.
The sharpest price increase so far this year has been recorded on Nantucket. The median price of the 35 single-family home sales on the island so far this year stands at $2.95 million, more than $1 million more than the median price of $1.9 million through the first five months of 2023.
Through May, there have been 14,005 single-family homes sold across all of Massachusetts in 2024, a 2.1 percent increase over the sales volume of the same five months of 2023. Meanwhile though, the year-to-date median single-family home price has increased 9.3 percent on to $590,000.
On the condominium side of the market, there were 1,922 sales completed in May 2024, a 4.3 percent increase over the 1,843 sales in May 2023. The median sale price meanwhile climbed 4.6 percent on a year-over-year basis to $550,000, a new all-time high for the month of May, The Warren Group said.
So far this year, there have been 7,016 condo sales in Massachusetts, a 0.5 percent decrease compared to the first five months of 2023, while the median sale price has risen 6 percent to $530,000.
Home sales across Massachusetts fell to a 12-year low in 2023 and housing here is inaccessible or unaffordable for many residents. Gov. Maura Healey last year identified housing as “the number-one issue facing this state” and said there is a shortage of 200,000 units across the state.
The House this month expanded Healey’s housing bond and policy bill to pump it up to a $6.5 billion and five-year plan that now also includes a $1 billion expansion of the Mass. Water Resources Authority in eastern Mass. The Senate is expected to consider its own version of that bill next week, though that branch has not yet unveiled its specific plans to encourage badly-needed housing production.
Another snapshot of the housing market and the struggles that homeowners and renters face is expected on Thursday, when the Joint Center for Housing Studies of Harvard University plans to release the “State of the Nation’s Housing 2024 Report.”
“On the for-sale side, millions of potential homebuyers have been priced out of the market by high home prices and interest rates, while the number of renters with cost burdens has hit an all-time high,” the center said in an advisory last month. “However, a surge in new multifamily rental units is slowing rent growth and accelerated single-family construction is starting to life for-sale inventories.”
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Massachusetts Business | Massachusetts Economy | Massachusetts Chamber of Commerce | Chamber of Commerce | Affordable Housing in Massachusetts | Massachusetts Innovation | Quality of Life Massachusetts | Government Affairs | Government Affairs | State House News Service | Economic Development
