In Q1 of 2020 16 properties were reported sold – a total of 824 units at an average price/suite of $431,400. This is a stark contrast to Q1 of 2019 where 16 properties sold, but this amounted to only 449 units with an average price/suite of $339,500 (Colliers, RealNet).
On an annualized basis, if the Q1 2020 sales volume was maintained 2020 may become the highest gross sales year on record, more than doubling the sales seen in 2019. Indeed, it would appear that the 2020 year was off to a strong start prior to the COVID-19 pandemic. Now that the market is approximately three months into dealing with this situation there are some key views that are emerging in the market. In this report, we take an informed approach to analyze the current state of the multifamily market, please download the report to learn more.
