Joe O'Donnell

Construction in New Jersey isn’t what it used to be. In the commercial real estate sector — think strip malls, industrial warehousing, research and development, and office space — new projects aren’t getting built as much as they were just a couple of years ago.  To read the full article, head to:  https://lnkd.in/dF9yK-SY For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

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🏡 Haverhill, Massachusetts Real Estate Update 🏡 https://bit.ly/3QB56Tq 📈 Median Price Trends (Q1 2023 vs. Q1 2024): Single-family homes: Q1 2023: $495,000 Q1 2024: $531,000 (up 7.27%) Condominiums: Q1 2023: $349,950 Q1 2024: $375,000 (up 7.16%) 🔥 In part due to extremely tight inventory, Haverhill home prices are on the rise! 🚀💰 #HaverhillRealEstate #HomePrices #MarketUpdate #Haverhill #HaverhillMA #HomeBuying #HomeBuyer #RealEstate

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🚨 New Listing | Store Space | New Bedford, MA 🚨 💲 $14,900,000 💲 🏦 88,817 SF | 802 Units 🏦 🖥 Offering Website: https://lnkd.in/eX_wEVY5 🖥 🔹 Priced Below Replacement Cost - The $14,900,000 asking price equates to just $167.76 psf and is a Stabilized 7.5% cap rate 🔹 Desirable Unit Layout - This conversion consists of 100% 1st-floor units with multiple unloading areas, providing short pull distances and premium ground-floor rental rates 🔹 Low Saturation - The 5-mile saturation is just 5.33 SF per capita, with just 3.48 SF of that being climate-controlled square feet. 🔹 Class "A" Amenities - This property was completely renovated in 2023 and features a professional on-site leasing office, multiple loading areas, 23 video surveillance cameras, coded access control system, and motion-activated LED lighting throughout the facility. 🔹 Strength of Demographics - The 5-mile population is 149,695 individuals with an Average Household Income of $81,955.  Additionally, 75% of the 11,629 housing units within one mile are renter-occupied. 🔹 Potential Expansion - The parcel has several areas where portable drive-up units could be added for additional revenue.

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Wrapping up the first half of 2024, Boston and the Greater Boston area have seen continued home price increases while inventory remains low. The "lock-in effect" and competition over limited inventory continue to be major forces contributing to value increases year over year. July and August tend to be slower months in the local market, particularly August, when many prospective buyers and sellers take advantage of the nice weather to vacation. We expect to see higher days on market during this time, which is typical yearly seasonality. Usually, there is a pop in real estate sales activity post-Labor Day through the end of September. We call this the Fall Market. Home sellers can continue to capitalize on the opportunity to sell their homes for record prices, and they should also be cognizant of the effects of seasonality on buyer demand. It's important to strategize regarding listing timing to extract maximum value when selling a home. Although it can be challenging to navigate today's market as a buyer, it's important to remember that not much has changed over the past several years, and experts predict continued low inventory with high demand for housing. For those waiting for rates to "drop", we recommend being cautious as lower rates usually lead to exponentially higher demand (meaning even more competition). Curious how market conditions may affect your home selling or home buying journey? Don't hesitate to reach out! -Zack & Carly ZackHarwood.com

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Is now a good time to build a home? With inventories on the low side many home buyers have been frustrated with the selection. We weigh in with our latest post #ResidentialRealEstate #WestchesterRealEstate #ModularHome #RealEstateTrends #MortgageRates #RealEstatePredictions https://buff.ly/3WD8Zte

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