Austin apartment sales 2013: Hendricks-Berkadia
AUSTIN – The city’s multifamily transactions declined 34.2 percent with 86 sales in 2013, after having three years of rising sales. Last year’s sales volume of $1.5 billion was down 21.8 percent from 2012, still more than the annual average of $1 billion since 2004, according to Hendricks-Berkadia.
Buyers targeted properties with 100 or more units, accounting for nearly three out of four sales. Even with the annual decline, last year’s deal flow was above the average of 76 sales during the prior decade.
The average price per unit rose 9.4 percent to $79,478 in 2013, a milder increase from the 26.7 percent rise during the preceding year. Large, top-tier properties sold within the City of Austin averaged $137,163 per unit — up from an average of $112,667 per unit one year prior.
| 2013 | 2012 | Change | ||
| 100+ unit sales | Average price (per unit) | $79,387 | $76,423 | 4% |
| Average price (per sf) | $89.40 | $95.92 | -7% | |
| Transaction count | 62 | 90 | -31% | |
| Total volume | $1,433,148,801 | $1,829,446,547 | -22% | |
|
Less than 100 unit sales | Average price (per unit) | $80,028 | $64,080 | 25% |
| Average price (per sf) | $101.98 | $99.88 | 2% | |
| Transaction count | 24 | 40 | -41% | |
| Total volume | $67,237,900 | $88,993,279 | -24% | |
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