Boston condominiums had another strong year in 2015. In the Back Bay, condo sales are averaging over $1,100 per square foot (yes, that's the AVERAGE). Beacon Hill and the South End have also seen prices [...]
West Roxbury is turning into one of Boston's most active neighborhoods. Our Vice President of Commercial Real Estate, Eric Shabshelowitz, has personally been active there and was the #1 agent for multi-families in 2015 based on MLS.
Here's a quick snapshot showing why West Roxbury is so popular:
Multi-family prices have trended upwards [...]
Boston's retail market also remained strong in Q3 2015. Vacancy was down to 3.7% at the end of the quarter, compared with 3.9% in Q4 2014. Asking rent rates were also up - at $17.83/SF, up 5.38% from four quarters earlier. (Remember, those averages are across the greater Boston area - in Q3 2015, average quoted rent rates were $90.80/SF in [...]
Boston's office market remained strong in Q3 2015. Overall vacancy in the Boston area decreased to 9.1%, down from 9.2% at the end of Q2 2015 and 9.3% at the end of Q4 2014. Vacancy in Boston's central business district (CBD) was down to 7.6%, compare that with Q4 2014 when vacancy was at 8.3%. Interestingly, the vacancy rate for Class A [...]
1. Set a Budget
Setting a budget and managing expenses is very important when trying to make a profit off of an income property. Budget for future capital improvements - heating systems, hot water tanks, the roof and other big ticket [...]
Sure, offices and schools have had a number of snow days. But how has the weather impacted the real estate market?
As you might expect, inventory is down... way down. The charts below are for residential condos, but we have seen a similar trend through all property categories.
Downtown Boston Condo Inventory (Past 3 Years)
Downtown Boston Condo Inventory (Past 18 [...]