Worcester Business Journal

wbjournal.com | December 9, 2019 | Worcester Business Journal 7 100 A June St. Worcester, MA 01602 508.310.5406 www.bestprollc.com Cleaning for Health From office cleaning and floor waxing to carpet cleaning and all types of professional cleaning services, BestPro Cleaning has the resources and expertise to get your office cleaning done right. Whether you require daily, weekly or monthly cleaning services or just a one-time cleaning, BestPro Cleaning will customize a cleaning service program to suit your individual needs and budget. General Manager, Diana Gallego Commercial Cleaning Office Cleaning Janitorial Services Family Owned Serving Massachusetts Since 1998 General Cleaning Carpet Cleaning Floor Care Eco-Friendly Green Cleaning Services Facility Maintenance (landscaping, snow removal, and light construction repairs) M E M B E R F D I C | M E M B E R D I F Together, we've built our community on a firm belief that banking isn't about money, it's about relationships. Calling this our home isn't just a bond we share with our customers — it's what makes them our true neighbors. S O M E F O L K S S A Y FRIENDS & MONEY DON 'T MIX. W E B E G T O D I F F E R . countrybank.com 278 PARK AVE | 315 MAIN ST WORCESTER driver of sales is rising rents. "Rents are so high it's better to own," she said. e average monthly rent for an apartment in Worcester from January through October was $1,681, a 3.5% increase compared to the same period one year ago, according to RealPage Inc., a Texas provider of real estate data. e cost of an apartment in Worcester is above the national norm of $1,412, but well behind Boston's average of $2,366, said RealPage. Consider these advertised prices: • At 145 Front Street, the 365-unit complex downtown, advertised rents range from $1,460 for a studio to $2,175 for a two-bedroom unit. • Audubon Plantation Ridge on Plantation Street is advertising one- and two-bedroom units from $1,840 to $2,090. • On the less expensive side is 22 & 26 Vernon Street Apartments, offering studios and one-bedrooms from $895 to $1,150. Multiple offers, no inspections Paul O'Rourke, the broker-owner of e O'Rourke Group Real Estate Professionals in Worcester, said he has noticed Greater Boston investors are flocking to Central Mass. where homes are less than half the price. "e market has really shied as a result of these out-of-town buyers," he said. "I've sold 15 multi-family homes this year, and nearly every one of them had multiple offers; and most of them sold for well over asking price." Since the first of the year, 50% of the 365 Worcester multi-family homes listed on the Shrewsbury-based MLS Property Information Network fetched more than the asking price. O'Rourke said many of the sales are from cash buyers who are not from Central Massachusetts and routinely waive inspections. "Rather than pay $1 million and up for a multi in Boston, they come to Worcester where prices are much lower," he said. e shi began over the last two years, he said, as prices in Greater Boston skyrocketed. O'Rourke said the minor league baseball Red Sox's deal to move from Pawtucket, R.I. to the Canal District got the attention of out-of-towners. "Four years ago, a multi-family home in the Kelley Square location, not far from the stadium site, sat on the market for up to six months," he said. "Now, those same multis are selling for up to $400,000 with no problem. It's incredible." W Paul O'Rourke, owner of The O'Rourke Group Real Estate Professionals

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