New York Is NOT Most Expensive City for Apartment Sales Transactions

Real estate investment firm Marcus & Millichap's 2019 North American Multifamily Investment Forecast reveals 3 California markets in Top 5 of highest avg sales price/unit.
 

April 28, 2019 |
Marcus & Millichap 2019 Apartment sales data

Marcus & Millichap specializes in real estate investment sales and financing.

Latest data from real estate investment firm Marcus & Millichap shows San Francisco (#1), San Jose (#2), and Orange County, Calif. (#4) in the Top 5 of U.S. multifamily markets for average price/unit in mulfamily transactions. Avg price/unit in San Francisco: $451,060; San Jose: $403,370; Orange County: $301,740.

Rounding out the Top 5: Boston (#3, $308,310) and New York City (#5, $289,000).

Avg price/unit for the U.S.: $151,480.

Looking for a bargain (maybe): Go Midwest, young dealmaker.

Avg price/unit in Cincinnati: $52,780. Cleveland: $54,880. Indianapolis: $64,950.

Note: Apartment data forecasts for 2019 are based on the most up-to-date information available as of December 2018 and are subject to change. Average prices are a function of the age, class and geographic area of the properties trading and therefore may not be representative of the market as a whole. No representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. This is not intended to be a forecast of future events and this is not a guaranty regarding a future event. This is not intended to provide specific investment advice and should not be considered as investment advice.

 

Source: 2019 MULTIFAMILY North American Investment Forecast © Marcus & Millichap 2019

 

 

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