This week the Massachusetts Association of Realtors (a.k.a MAR) released 3rd quarter market data and reported that single family home sales were up 5% in September as compared to the same month last year. That is the first year-over-year increase we have seen in 2008! 
It could be due to the fact that the median price for a single family home during September was $295,000, bringing prices below $300,000 for the first time since April 2003.
Market Report Sept-2008 (27.6 KiB, 300 hits)
What I found most interesting in the recent data is that the Northeast region had an 85.8% increase in multi-family sales during Q3 as compared to the same time last year with 226 homes sold in 2007 and 420 sold in 2008.
Market Report Q3-08 Multi Family (17.2 KiB, 253 hits)
MAR President Susan Renfrew stated:
I feel it is a positive sign to see that investors are coming back into the multi-family market. Two- and three-family homes are an important part of many communities in Massachusetts, and qualified ownership of these properties is an important step in stabilizing these neighborhoods.
I completely agree. My team has been working with a lot of investors recently and we’re happy to answer any questions you have.
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A Look at the October Housing Market in
Middlesex County MA Real Estate Market Report
Middlesex County MA Real Estate Market Report
MA Home Prices Up, Sales Down in July!
MA Real Estate Market | Nov-09
MA Real Estate Market | Oct-09
3rd Quarter Massachusetts Housing Market
MA Real Estate Market Update | Sept-09
MA Real Estate Market Update | August-09
MA Real Estate Market Update | July-09
Get to know Jacob Clayton (155 Posts)Hi, I'm Jake...and that's my dog! By day I'm founder and Chief Geek at MyUntangled Media, LLC and Executive Director of Business Development at Barrett & Company Real Estate . By night I am part struggling musician, frustrated writer, wanna-be chef and obsessed dog owner. I started this site mainly to learn WordPress, work on my design and writing skills, and showcase some folks with all kinds of talents and great stuff to say. (Read the long version if you dare) and please introduce yourself over on my Google+ Profile!
Hey Kat- In my opinion this is a fantastic time to purchase a multi-family as a rental investment as long as you know the risks and commitment involved in being a good landlord. On the flip-side, the problems in the market are making things a bit more difficult for renters which is very unfortunate. There was an interesting article on this subject a few days ago on Boston.com that you might want to check out as well.
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