August 2014

Click here to view as PDF.

  

Market Summary

  • The key metrics for the Dallas/Fort Worth area multifamily sector recorded significant changes both over the month and over the year.

  • Over the month all the classes recorded mostly downward trends in terms of occupancy. Except Class A properties recorded an increase of 0.31% over previous month. On a year-over-year basis Class A properties recorded a decrease of 0.57%. The largest annual increase was noted for Class B properties with an increase of 0.29%.

  • The average rental rate per square foot continued to increase marginally on a monthly basis for individual classes. Class A properties reported an increase of $0.002 per square foot over the last month. On a monthly basis Class B and Class C properties also reported an increase of $0.002 per square foot respectively. The largest annual increase of $0.022 per square foot was noted for Class C properties.

  • The average rental rate per unit for all classes recorded significant changes both over the month and over the year. Class A properties recorded an increase of $0.80 per unit over the month; to close at $1,084 per unit. The largest monthly increase was noted for Class B properties, an increase of $2.04 per unit over the month. The largest annual increase was noted for Class C properties; the average went up by $16.95 per unit, followed by Class B with an average of $13.66 per unit.

  • 10,439 units are in the construction pipeline, spread over 36 projects. 32.86% of the pipeline is currently pre-leasing.

Dallas/Ft. Worth Apartment Market Key Metrics

 Occupancy

93.16%

 Rent / Unit

$820.96

 Rent / SF

 $0.962

 Monthly Change

+0.14%

 Monthly Change

+$1.71

 Monthly Change

+$0.002

 Annual Change

-0.11%

 Annual Change

+$14.40

 Annual Change

+$0.018

Absorption in Dallas for August 2014 was positive (1,224), bringing the annual total to a positive 3,842 units. 4,742 units are in the planning stage.

To subscribe or unsubscribe to this update, please send an email to Holly Kelch or call 1-800-856-REAL (7325) ext. 4357.

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.