March 2014

Click here to view as PDF.

  

Market Summary

  • All metrics for the Austin area multifamily sector recorded both positive and negative changes in March 2014.

  • Occupancy figures recorded both positive and negative figures for the classes for the month. Class A properties reported a decrease of 0.11% over last month, and a decrease of 0.55% over last year. The largest increase over the month was and year was noted for Class B with an increase of 0.61% and 0.51% respectively.

  • The average rental rate per square foot reported mostly upward for all classes. The largest noted increase over the month was for Class D properties reporting an increase of $0.06 per square foot. The largest increase over the year was also noted for Class D properties with a figure of $0.069 per square foot.

  • The average rental rate per unit continued to record mostly positive changes over the month. Except Class A properties which reported a decrease of $1.66 per unit over the month. The largest increase over the month was noted for Class D properties; the figure went up by $4.15 per unit. The largest increase over the year was also noted for Class D properties; the average went up by $50.75 per unit to close at $737.26 per unit.

  • 9,657 units are in the construction pipeline, spread over 33 projects. 49.39% of the pipeline is currently pre-leasing.

Austin Apartment Market Key Metrics

 Occupancy

94.22%

 Rent / Unit

$938.43

 Rent / SF

$1.120

 Monthly Change

+0.20%

 Monthly Change

+$0.16

 Monthly Change

+$0.001

 Annual Change

-0.10%

 Annual Change

+$35.62

 Annual Change

+$0.044

Absorption for Austin was positive 601 units in March 2014 and positive 1,573 units in the twelve month rolling period. 1,862 units are in the planning stage.

To subscribe or unsubscribe to this update, please send an email to Scott Sherrill or call 1-800-856-REAL (7325) ext. 4264.

O’Connor & Associates / Research & Consulting Group
Houston: 713-686-9955  


 


 

 

O'Connor & Associates -- Your Key to Real Estate Success
Corporate Office:
2200 North Loop W., Suite 200
Houston, TX 77018
1-800-856-7325


www.poconnor.com www.oconnordata.com
Houston Dallas San Antonio

@oconnordata    
If you would like to be removed from this list and receive no real estate information from us in future, click here to unsubscribe.