Tax title takings, not home sales, drove Otis price data lower this period

OTIS -- The Middle Berkshire Registry of Deeds recorded 14 property transfers in Otis between June 26 and July 25, but only three represented open-market home sales with disclosed prices, ranging from $250,000 to $799,000. The rest of the period's activity consisted of municipal tax title takings, bank-related transfers and transfers between individuals and their own family trusts.

MARKET OVERVIEW

Of the 14 recorded transfers, seven included a disclosed dollar amount, ranging from $288 to $799,000, with a median of $3,170. That low median is driven by four tax title takings by the Otis Town Collector of Taxes, recorded at $288, $443, $1,136 and $3,170 -- legal mechanisms for unpaid property taxes, not arm's-length home sales. Setting those four aside, three transactions carried disclosed sale prices reflecting property value: $799,000, $675,000 and $250,000. The other seven transfers in the dataset had no price disclosed, which the registry data notes is common for deed records generally. Based on raw count alone, 14 recorded transfers in a month is a moderate volume for Otis, though the data does not include the town's typical monthly sales count for comparison.

TOP SALES

236 Ridge Ave sold for $799,000 on June 30, the period's highest recorded price. The sellers were Albert Gabbay and Caryl S. Gabbay, as trustees; the buyers were John R. Loveland and Erin A. Loveland.

213 Brookman Dr sold for $675,000 on June 29. Daniel Ellis was the seller; Peter J. Pappas was the buyer.

87 North St sold for $250,000 on June 29. The sellers were James Troiano and James Paul Troiano; the buyer was Lee Bank.

92 South Main Rd was recorded at $3,170 on June 30 as a tax title taking. The prior owner was Michael Alves, as trustee, and K Plan; the buyer of record was the Otis Town Collector of Taxes.

116 Club House Dr (also recorded as 2 Club House Dr) was recorded at $1,136 on June 30, also a tax title taking. Brian Zimmerman was the prior owner; the buyer of record was the Otis Town Collector of Taxes.

NEIGHBORHOOD BREAKDOWN

South Main Road saw two recorded transfers in the period: 92 South Main Rd, the $3,170 tax title taking, and 93 South Main Rd, a transfer from Lee Bank to William H. Dyer and Diane L. Dyer with no price disclosed. No other street had more than one recorded transfer.

By price tier among disclosed-price sales: two transactions exceeded $500,000 (236 Ridge Ave at $799,000 and 213 Brookman Dr at $675,000); one fell under $500,000 (87 North St at $250,000); and four tax title takings were recorded under $3,200 each (92 South Main Rd, 116 Club House Dr, 201 Tyringham Rd, and one unaddressed parcel tied to seller Alfred W. McIntosh).

The remaining seven transfers -- 12 South St, 476 Pine Rd, 842 Tolland Rd, 91 Pike Rd, 1350 S Main Rd, 93 South Main Rd and 545 West Center Rd -- had no price disclosed.

MARKET NOTES

Four of the seven disclosed-price transactions in this period were municipal tax title takings rather than open-market sales, which is why the raw median of $3,170 does not reflect typical home values in Otis; the three genuine market-rate sales ranged from $250,000 to $799,000. No bedroom, bathroom or square-footage data was available from deed records, so no price-per-square-foot comparisons could be made. Several transfers moved property from individual owners into trusts held by the same names -- including 476 Pine Rd (Boyea to Boyea, as trustees) and 91 Pike Rd (Descoteaux to Descoteaux, as trustee, and a nominee trust) -- a pattern the data shows but does not explain. Two transfers involved lending institutions: Lee Bank appears as both a seller (93 South Main Rd) and a buyer (87 North St), and Greylock Federal Credit Union transferred 1350 S Main Rd to the Broggi family.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Jun 22 - Jun 28

Jun 29 - Jul 5

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.