Real Estate

Office Market Down While Residential Sales Perk Up

In the last 2 days, Banker & Tradesman has released two notable real estate reports:

Boston Office Vacancies Rise 40 Percent In Q3 Over ’08
Boston’s office vacancy rate rose to 13 percent in the third quarter this year, a 40 percent jump year-over-year from Q3 in 2008, according to a report published today by Colliers International. The vacancy rate increased from 9.3 percent in the third quarter of 2008 to 13 percent in Q3 ’09, according to Colliers.

Mass. Home Sales Increase for Third Straight Month In Sept.
Single-family home sales in Massachusetts increased for the third consecutive month in September, helping to push third quarter sales up 6 percent from a year ago, according to report by The Warren Group, publisher of Banker & Tradesman. Condominium sales in Massachusetts, which have plunged by double-digit percentages in 2009, also perked up 3.7% in September. September marked the first year-over-year increase in condo sales in more than two years.