Many of the characteristics that contributed to the strong performance of the multifamily investment market throughout 2021 remain present in 2022. By December 2021, national rents had the sixth straight month of double-digit rental rate increases. The national median rent for a one-bedroom apartment in December was $1,651 per month, which represents a 19.3% increase year-over-year. Apartment demand among renters 24-35 years old continues to drive strong interest in newly constructed apartment communities filled with modern amenities.
Many real estate investors purchase multi-family houses to generate a steady income. If you’re considering buying an apartment building, you may be able to earn a significant profit, but there are costs and other factors to consider.
Take a quick look back at our year with us. What a year 2021 was for the commercial division! Cheers to 2022 and all of the opportunities ahead for our agents and clients! We look forward to serving you throughout the year.
As we close out Q3 2021, activity in most of the major commercial real estate sectors remains elevated. Equal amounts of interest are being generated from both investors and occupiers alike. Three commercial real estate sectors in particular have outperformed the broader market since the outbreak, and continue to generate the most interest from investors and developers.
As we prepared to close out 2020, I’m sure many of you reading this thought to yourselves, “Thank goodness, let’s get 2020 over with and move on!” I can’t say that I blame you. It’s understandable that everyone has a different perspective. People have been impacted differently, and perhaps still have feelings of unease surrounding the pandemic, the economy and most importantly family and loved ones.
Our Monthly Market update is a week late (oops!) but the good news is that the stats about December haven't changed since last Monday! The commercial real estate market as a whole isn't expected to rebound fully for a good long while, but there are sectors that have been surviving - even thriving - through the last 10 months!
The residential real estate business is booming right now, and this includes 1-4 unit multifamily properties as well as larger 5+ unit multifamilies. Single family homes have seen their heyday recently with little inventory and plenty of competition. While there have always been plenty of individuals looking to invest in multis, this number has recently increased, especially on smaller multifamily properties. With people being out of work due to layoffs and furloughs, many are going to look to offload their large mortgages and get into something more affordable.
Verani Realty Commercial Division, Londonderry, NH - 03.09.2020 - Berkshire Hathaway HomeServices Verani Realty's Commercial Division is excited to announce that Senior Advisors Michael B. Charron and Joan Blais have been recognized for their outstanding achievement within the Berkshire Hathaway national network of real estate agents for 2019.
Multi Family Market Monday update!
While the multi family market remains strong into 2020, February did see a little dip in average selling price AND the number of 4+units sold.