The Buckingham Investments Q4 2019 market study has been released! This information is crucial for keeping up to date of the local market and we are excited to offer the data to all of our clients and extended network.
Each quarter we review all the closed multifamily sales in our market area, verify the numbers and compile the data. For a detailed spreadsheet version of this study that shows neighborhood and property level data, please contact us at firstname.lastname@example.org. We hope that this market study proves to be a valuable resource for you!
So what do these numbers mean?
Along with this uptick in income pricing, sales prices continued their year on year increase as average price per square foot rose 9.7% from $393 in Q4 2018 to $431 in Q4 2019. Average price per unit was also up 17.3% year on year finishing up at $391,386.
As we head into 2020, we will continue to experience a climate of low interest rates along with an abundance of available financing options. Low inventory remains a challenge for investors as high demand for multifamily housing continues to drive our market economics.