Malden’s Multi Family Market sees increasing prices, as competition for existing properties heats up.

The market for multis in Malden is heating up, as inventories and interest rates remain low. More and more buyers are coming into the Malden market, looking at this community as a good buy.

Malden is currently seeing an influx of professionals in their later 20s and early 30s, who are looking to Malden as alternative to living directly in Boston. Many are seeking besides close access to Boston, more living space, less congestion, and quality restaurants. In addition, the addition of the Northern Strand Bike Path and an active artist community is contributing to the growth.

 It is not uncommon for sellers of multi family properties to have several quality offers.

Mortgage Rates

According to the Freddie Mac survey, average mortgage rates increased for the first time in 13 weeks for the week ending Thursday, August 9, 2012.  The average 30 year mortgage increased slightly from 3.55% to 3.59%, and the average 15 year mortgage increased from 2.83% to 2.84%.

Mortgage rates one year ago were 4.32% and 3.50 for the 30-year and 15-year fixed mortgages.

Snapshot of the Malden Real Estate Market

Source: MLS Property Information Network

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