The bottom 5 Massachusetts cities with the lowest sale price to list price (SP to LP) ratios were Malden, Boston, Fitchburg, Fall River, and New Bedford. Â Data in this post is based on information provided to and compiled by MLS Property Information Network, Inc.
I took only cities & towns in the Commonwealth of Massachusetts that had at least 30 3-unit multifamily sales, typically triple deckers, during 2010. Â New Bedford, MA held the bottom spot with a SP to LP ratio of 0.92. Â Fall River, MA was next at 0.93. Â The least worst of the bottom 5 cities was Malden, MA at a SP to LP ratio of 0.96.
These bottom 5 cities performed differently during January of 2011. Â New Bedford's SP to LP ratio fell to precipitously to 0.83. Â Time will tell if these early figures (partly due to small sample sizes) indicate what is to come. Â February figures are not out yet according to the data accuracy rules that I follow.
Are you looking to invest in multifamily income property? Â Let me knowÂ how I can help.