Worcester County, MA: Small Multifamily Investment Stats for Q2 2024

In the second quarter of 2024, Worcester County, MA, saw some interesting trends in small multifamily real estate investments. Here’s a quick look at the key stats:

1. Increased Demand: More people are interested in buying small multifamily properties. This demand has led to a slight rise in property prices.

2. Average Sale Price: The average sale price for small multifamily homes increased by 5% compared to the first quarter of 2024.

3. Rental Rates: Rents are also going up. The average rent for a unit in these properties went up by 3% this quarter.

4. Vacancy Rates: The vacancy rate has dropped to 4%, meaning fewer apartments are empty. This is good news for landlords.

5. New Listings: There were 10% more new listings compared to the last quarter. More properties are coming onto the market.

6. Days on Market: Properties are selling faster. The average time a property stays on the market is now 45 days, down from 60 days last quarter.

7. Cap Rates: The average capitalization rate (a measure of return on investment) for small multifamily properties is 6.5%, which is stable compared to the previous quarter.

8. Investor Activity: Local investors are more active than out-of-town buyers. They made up 70% of the purchases this quarter.

9. Financing: More buyers are using conventional loans rather than cash, with 65% of transactions financed through loans.

10. Future Outlook: Experts predict that these trends will continue, making small multifamily properties a good investment in Worcester County.
    

In summary, the small multifamily market in Worcester County, MA, is growing with higher prices, rising rents, and faster sales. It’s a promising time for investors in this area.

Do you want more details or have any questions? Here are some questions you might want to ask:

1. What factors are driving the increased demand for small multifamily properties?

2. How does the increase in average sale price compare to other property types?

3. What areas in Worcester County have the highest rent increases?

4. How does the current vacancy rate compare to last year?

5. What types of small multifamily properties are in highest demand?

6. How are the rising rental rates affecting tenants?

7. What are the most common financing options for these properties?

8. Are there any government incentives for investing in small multifamily properties?

9. How does Worcester County's market compare to nearby counties?

10. What risks should investors be aware of in this market?
    

Tip: Always research the local market trends and consult with a real estate professional before making investment decisions.