Tuesday, November 2, 2010

Quality Apartment Sales Bump Volume 63% in Third Quarter

Sales volume rose 63 percent to a total of $8.5 billion from Q2 to Q3 2010 according to Real Capital Analytics (RCA). That’s the biggest jump in the past five years and a 130 percent jump from Q3 2009.

The caveat: while sales volume rose 63 percent, the number of transactions rose just 5 percent, meaning deal size played a huge role in the transaction numbers. So far this year $18.5 billion of apartments have sold, almost double the first nine months of 2009. But the number of properties sold represents just a 31 percent increase.

The difference in sales dollar value vs. properties sold is explained this way: quality apartments are selling fast.  Read More at Multifamily Executive Online.