apartment supply: Fenway Apartment Vacancy Rate Up 1,020% YOY As Rental Season Nears - 03/30/21 01:37 PM
Tomorrow will mark exactly 7 months from the day the Fenway vacancy rate began its jaw-dropping blastoff as a result of the pandemic, remote learning, and the international travel ban.  The pivotal 9/1 leasing date came to pass, and Fenway saw the usual number of students moving out as their apartment leases expires.  Only this time, there were no students moving in.
 
As a result, the vacancy rate for Fenway apartments rose from 3.38% on August 31 to an unthinkable 17.87% by September 8.  All of a sudden, one of Boston’s best areas to live was in a situation where 1 out … (0 comments)

apartment supply: 3 Reasons Boston's Apartment Rental Market Will Rebound in 2021 - 02/25/21 12:05 PM
The year of COVID was a tough one for Boston’s apartment rental market, that is indisputable.  Apartment vacancies soared in many of the city’s most expensive neighborhoods as local schools enacted remote learning policies and residents in Downtown fled for open spaces.  Average rent prices for Boston apartments have declined by 4% city-wide, 8-10% in Back Bay, South End, and North End, and over 20% for apartments in Downtown Boston.
 
Some may believe that there is no way out of this market decline other than an end to COVID-19 and the remote learning policies that have stripped Boston of its vital … (1 comments)

apartment supply: Boston's Rental Market is Reeling - Market for Home Sales is Roaring - 02/25/21 11:50 AM
2020 marked a divergent year in the Greater Boston housing market, as prices of homes for sale in Boston increased 7.5% in 2020 while average rent prices for Boston apartments dropped 2.6% city-wide.  There are a few forces at work causing this deviation, leaving many uncertain as to what 2021 will bring in terms of the local housing economy.  In this article, we’ll look at these forces and what they mean to the future of the real estate market in Boston.
 
3 Factors Causing Divergance in the Boston Real Estate Market
1.  Remote Learning
By breaking down the data by neighborhood, we can clearly … (1 comments)

apartment supply: East Boston Vacancies Up 207% YOY - But Trending In A Good Direction? - 02/18/21 11:30 AM
The vacancy rate in East Boston shot up a whopping 207% in the past 12 months.  Now at face value that sounds pretty shocking and could be the story in and of itself, until you peel back the layers a bit more.  So while it’s true that the current East Boston vacancy rate of 3.78% is more than triple the record low vacancy rate of 1.19% from February 2020, it doesn’t seem so shocking when you compare that to the 349% increase in the City-wide vacancy rate  or the 2600% increase we’re seeing in Downtown Boston. 
 
Even prior to the pandemic, the … (2 comments)

apartment supply: Apartment Inventory Soars in Cambridge, MA - Market Report - 02/18/21 08:36 AM
While Cambridge is technically outside of the City of Boston, data trends in the housing market and in particular the rental market in Cambridge closely mirror that of Boston.  Both are highly cyclical markets that depend heavily on apartment turnover from the local student population.  So while Boston’s rental market is reeling due to inventory spikes, it should come as no surprise that the same supply issues are occurring in Cambridge.
Cambridge may be best known as the home of two famous universities:  Harvard and MIT.  Like most of the area’s Universities, both adopted remote learning for the 2020-2021 school year, severely … (4 comments)

 
Zachary Parker, Real Estate Journalist (ProSource Media)

Zachary Parker

Real Estate Journalist

Boca Raton, FL

More about me…

ProSource Media

Address: 10557 Lake Jasmine Dr, Boca Raton, FL, 33498

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