About the Author

author photo

Brecht Palombo is an accomplished real estate investment sales broker and auctioneer who is licensed throughout New England. Brecht has been the lead on a number of large Boston area auction transactions and has sold numerous residential developments and multifamily properties. Additionally Brecht is also CCIM candidate and represents Tranzon Auction Properties thoughout Southern New England.

See All Posts by This Author

April 08 Multifamily Sales Report Now Available

May 15th, 2008 • Related • Filed Under

I just updated the sales figures for April 2008. This data is compiled from MLS and as I’ve mentioned here previously this data largely excludes the bigger commercial multifamily sales but is inclusive of probably 85% or more of the small and mid-sized buildings, that is what seems to make it into MLS.

The average multifamily sales price in Massachusetts dipped again in April but the decline has seemed to slow, an indication that prices may be nearing the bottom. The average sales price was $271,155 in April versus $279,524 the month prior and versus $369,066 in April of 2007. These are drops of 3% and 27% respectively. Yep I said 27% year-over-year.

I compile the commercial multifamily statistics quarterly from the tax records so this quarter obviously won’t be available until July.

  • Average Multifamily Sales Price April 2007 $369,066
  • Average Multifamily Sales Price March 2008 $279,524
  • Average Multifamily Sales Price April 2008 $271,155
  • April ‘08 3% less than March ‘08
  • April ‘08 27% less than April ‘07

Data compiled from H3MLSPIN.

Post a Response

You must be logged in to post a comment.