San Antonio apartments 3Q 2013: Hendricks-Berkadia | San Antonio apartments 3Q 2013: Hendricks-Berkadia | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=6035 | 2013-10-16T08:00:00Z | 2013-10-15T06:45:00Z |
SAN ANTONIO - Since March, metrowide deliveries totaled 2,580 apartments, twice the number of completions from March to September of last year, according to Hendricks-Berkadia.
Also during this time, the vacancy rate rose 50 basis points to 6.2 percent as completions outpaced absorption.
From March to September of last year, 3,310 apartments were absorbed. During the same period this year, leasing demand dropped by nearly 50 percent to 1,660 newly occupied units.
Market rents were $880 per month in March. By September, average rent increased to $898 per month, a 2.1 percent gain.
The median single-family home price was $177,300 at the end of third quarter 2013, a 9.1 percent gain from 1Q 2013. During this time, single-family home transactions increased 6.2 percent to 46,200 annualized sales.
San Antonio Multifamily 3Q 2013 / 3Q 2012 Comparison
Submarkets |
Vacancy |
Average Rent |
3Q 2013 |
3Q 2012 |
3Q 2013 |
3Q 2012 |
Airport / Northeast |
5.5% |
4.8% |
$767 |
$734 |
Bexar County / Other |
6.6% |
4.2% |
$1,088 |
$1,088 |
Central San Antonio |
10.3% |
5.8% |
$1,151 |
$1,132 |
Comal County |
5.8% |
5.1% |
$996 |
$968 |
East |
8.5% |
6.4% |
$1,091 |
$1,075 |
Far North Central |
5.4% |
4.0% |
$867 |
$866 |
Far Northeast |
5.8% |
5.1% |
$763 |
$764 |
Far Northwest |
7.8% |
5.5% |
$842 |
$832 |
Far West |
5.6% |
4.9% |
$876 |
$863 |
South |
6.0% |
3.7% |
$1,241 |
$1,170 |
Southeast |
3.3% |
1.5% |
$1,046 |
$1,081 |
Total |
6.2% |
4.8% |
$898 |
$883 |
View the full report at Hendricks-Berkadia.
See the Real Estate Center's free San Antonio Market Data Sources. Stats and facts galore!
| Berkadia
| San Antonio-New Braunfels
| Multifamily
| http://www.apartmentupdate.com/index.cfm | | | | Read more at {Source} |