Mar 20, 2013
Austin 2012 apartment sales summary
AUSTIN - Multifamily transactions in 2012 exceeded prerecession activity both in number of properties sold and total sales volume. There were 110 transactions last year, surpassing the 104 sales during...
AUSTIN – Multifamily transactions in 2012 exceeded prerecession activity both in number of properties sold and total sales volume.
There were 110 transactions last year, surpassing the 104 sales during the peak in 2006. Last year’s sales volume of $1.7 billion was also above 2006 sales volume of $1.3 billion.
The average price per unit (PPU) surged to $76,913, a 34.4 percent rise, and the average price per sf advanced from $70.32 per sf to $92.33 per sf.
| 2012 | 2011 | Change | ||
| 100+ unit sales | Average price (per unit) | $79,386 | $59,794 | 33% |
| Average price (per sf) | $91.58 | $68.64 | 33% | |
| Transaction count | 81 | 43 | 88% | |
| Total volume | $1,660,526,073 | $733,428,324 | 126% | |
|
Less than 100 unit sales | Average price (per unit) | $65,877 | $49,517 | 33% |
| Average price (per sf) | $96.44 | $74.91 | 29% | |
| Transaction count | 29 | 17 | 71% | |
| Total volume | $61,020,818 | $45,490,212 | 34% | |
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