WHOOOOAAAAA WE’RE HALFWAY THEEEERE!
Here we are, early July 2021 and we’re hot, super busy and have come to the end of the first half of the year. The half that came through like a tornado and ushered in some huge KREM accomplishments. We’re loving all the post-pandemic activity- finally feels like things are back to some sort of normalcy after what felt like a lifetime filled with face masks, buckets of purell and boxes upon boxes of rubber gloves. The contents of a realtor’s car could be mistaken for a serial killer’s… or vice versa! Perhaps I just watch way too much Forensic Files.
The rental market in early 2021 was looking a little shaky…
The downturn of the pandemic was still on the horizon and we were unsure of how things were going to go. When turnover numbers started to come out and compound the already high vacancy rates, there was some nervous energy in the market. I’m happy to report that we’re seeing some great sell through on these rentals and vacancy numbers coming down. Together with our awesome exclusive clients, we’re getting units filled and doing so with a collective effort and NOT giving away the farm in the meantime. I expect this trend to continue to improve after this year as well. Feelings of what we thought might be a long time of a “renter’s market” are starting to fade.
I probably sound like a broken record but year over year, Kingston REM is accomplishing some serious milestones.
YTD 2021, our rental numbers are on pace to DOUBLE 2020’s. Yes, I understand that last year was a pandemic but the numbers we put up last year were no joke! The lease up at the Overlook at St. Gabriel’s is going better than anticipated. As an office, we’ve managed to rent 150 units in the complex this year already. Think that sounds awesome (CONFIRMED, IT IS, BTW), we managed to rent 65 units in the opening weekend for Overlook West! SIXTY FIVE UNITS. I’ve been in the local marketplace for almost 20 years now and I’ve NEVER seen anything like that before. Nothing even close. What an accomplishment for my team.
On the sales front, we have closed or have under agreement about $13M in homes and condos with another half dozen being prepped for market for late summer/early fall. I’ve transacted a couple of off-market direct deals this year already (which I LOVE to do- HMU if you need help with one! :)) for a quick and painless transaction for my clients. All this is made possible by our strong marketing efforts and both on and off market initiatives!
Back to the exciting shit.
Not only are we actively killing it at The Overlook at St. Gabriel’s, we have three NEW APARTMENT DEVELOPMENTS coming your way in the second half of 2021.
Starting with 54 Auburn– a boutique, loft-style 12 unit building in Coolidge Corner (NOW LEASING!). Super limited quantities of units all priced really well and ready to move in for September 1st!
Babcock Place (45 unit building in Coolidge Corner) and The Eyrie (28 units across two buildings in Brighton Center) round off the development front on the rentals.
And in case you haven’t noticed, the #KREMCrew has grown. I’m not just talking about the greys in my beard either. We’ve added four new agents (check out the updated roster!), all of whom are settling in comfortably and taking their time getting acclimated.
Just kidding, they’re CRUSHING it already.
What can you look forward to in KREM’s second half of 2021? Well, I’ll tell you.
- The launch of 54 Auburn, The Eyrie and Babcock Place- that’s 85 BRAND NEW UNITS (but who’s counting, amirite?!)
- Our updated marketing campaign- putting a lot more “movement” in our materials
- The continued success and summer pool parties at The Overlook at St. Gabriel’s
- Condo conversion of two family house in Newtonville (Coming to market late 2021- see above!)
I just couldn’t be more proud of the team, our customers and our clients. I catch myself marveling in everything as I watch this thing continue to come together being careful to not be complacent. The KREM vision is really in focus and we’re just fine tuning the details as we move- growing and getting stronger by the day. As lame as it sounds, I’m excited everyday we turn on the lights to crank through all the current business and hustle for all the possible opportunities.
As they say (and by they, I mean WE),