The multifamily market continues its strong push forward into 2013 with positive growth fueled by a lack of inventory, low interest rates, and strong investor confidence. Properties under $3 Million have comprised 69% of the total transaction volume in the 1st quarter of 2013 and are expected to continue along this trend.
Q1 Market Update
The multifamily market continues its strong push forward into 2013 with positive growth fueled by a lack of inventory, low interest rates, and strong investor confidence. Properties under $3 Million have comprised 69% of the total transaction volume in the 1st quarter of 2013 and are expected to continue along this trend.
There are an estimated 22 active multifamily listings representing an almost 50% decline from a year ago. Total transaction volume for the 1st quarter is just under $32 Million which if continues on its current pace will exceed 2012’s transaction volume by an estimated 20-25%.