GNAR News – February 9, 2011

Note:  Caravan will resume next week, February 17th

Congrats!  2011 Installation of Lela Wright, GNAR President

Thanks for coming out during the wild, snowy January weather to enjoy a great night at the Blue Ocean Music Hall.  The Installation and Holiday party was a great success.  Newburyport Daily news published a great article about swearing into the office of GNAR President of Lela Wright, by her father, Jerry Lischke http://bit.ly/wrightfamilytradition.  For additional pictures from the installation party January 12, click on the EVENTS page above.

Webinar Wednesday: Housing Numbers

When: Feb. 23, 10:00-11:00am
Price: Free
Where: Online event
Please join Eric Berman, MAR Director of Communications, as he talks about the latest housing numbers giving tips on how to position yourself as the expert in your market place.  To enroll online for the Webinar, click http://bit.ly/igHqjQ

MAR Report

Mass multi-family home sales down in 2010 as median prices up

Posted: 09 Feb 2011 09:41 AM PST

The multi-family home market in Massachusetts was down 11% in 2010 compared to the same time last year.  While the sales drop was greater than that experienced by the single-family and condo markets, the multi-family market also saw greater median price increases at 13.2%.

On a regional basis, Central Massachusetts had the smallest decrease at 3.8% (all regions went down), with the Cape having had the biggest decrease at 67%.  While sales on the Cape were down the most, this part of the state also had the greatest median price increase at 32.9%.  The South Shore region had the smallest increase at 7%.

Here are the highlights:

  • 2010 Multi-family sales down 11% (from 6,625 sales in 2009 to 5,899 sales in 2010)
  • Median prices were up 13.2% (from $190,000 in 2009 to $215,000 in 2010)
  • Central region down 3.8% for smallest drop in 2010 (from 963 sales in 2009 to 926 in 2010)
  • Cape Cod down 67.6% for largest drop in 2010 (from 74 in 2009 to 24 in 2010)
  • Cape Cod had the largest increase in median prices at 32.9% (from $236,250 in 2009 to $314,000 in 2010)
  • South Shore had the smallest increase in median prices at 7% (from $135,500 in 2009 to $145,000 in 2010)

Data Sets:
– Year-end 2010
Multi-Family Sales Data
– Q1 2010 Multi-Family Sales Data
– Q2 2010
Multi-Family Sales Data
– Q3 2010 Multi-Family Sales Data
– Q4 2010 Multi-Family Sales Data

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