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March 3rd, 2020

Over the course of the first 2 months of 2020, I looked at nine multi-family markets in Greater Boston, and came away with some data-driven results with a touch of context in each market. We have all heard the rumblings of a slowdown in the market, but what to the numbers say? I looked at nine submarkets in Greater Boston for answers.

Key takeaways from the nine multi-family markets we looked at in 2019:

  • A year-over-year decline of -10.3% in gross sales volume of MLS-listed, two and three-family sales ($807mm in 2018 vs $731mm in 2019)

  • A year-over-year decline of -10.9% in the number sales of MLS-listed, two and three-family properties (904 sales in 2019 vs 815 sales in 2018)

  • Inventory remains tight – the nine three-family submarkets we looked at average a turnover rate of 3.19% with a weighted average turnover rate of 2.98%

  • I saw some submarket-specific declines in price per-square-foot, with reasons for decline

  • The nine submarkets I analyzed reveals a nominal increase of $3 per-square-foot in the weighted average price per-square-foot of MLS-listed, two-family and three-family homes sales (up to $333 in 2019 from $330 in 2018)

  • Price investors are willing to pay for well-positioned properties increases; the top end of the market remains strong.

  •  Record number of private sales and 1031 exchanges


At the bottom of the page my ‘Methodology’ describes how the numbers were put together.  Several commonly used acronyms used include PSF (per-square-foot), 2F (two-family) & 3F (three-family).

ALL THE BEST,


Carleton Ashley

Multi-Family Real Estate Broker

617 272 5440

Carleton@JacobRealty.com

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Capital Gains Taxes:

My estimation reveals that in nine submarkets analyzed two-family and three-family multi-family sellers paid $109,686,247 in capital gains taxes to the federal government.  At the end of each market report, you will find my estimation of how much capital gains tax sellers collectively paid in each submarket.  

Part of my approach to real estate brokerage helps solve the problem of how to minimize, defer and lessen the tax burden investment property owners face when they sell.  There are different strategies to deploy based on client needs.  Please make sure to look at my ‘Free Cash Flow’ program for sellers, and contact me at 617 272 5440 (voice or text) to discuss how I can help.  I offer traditional real estate brokerage services.

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