February 2014

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Market Summary

  • Most key metrics of the San Antonio area multifamily sector recorded positive and negative changes in February 2014.

  • The occupancy figures recorded mostly negative values for all the classes. For class A properties, occupancy increased by 0.02% over the month to close at 91.89%; and decreased by 1.86% over the year.

  • Average rental rates per square foot recorded marginal changes over the month for all the classes. The average for Class A reported an increase of $0.003 per square foot over the month. Over the year Class A properties reported an increase of $0.014 per square foot to close at $1.101 per square foot. The largest annual increase was noted for Class C with an increase of $0.028 per square foot.

  • Class A properties recorded an increase of $1.16 per unit over previous month. On an annual basis Class A properties recorded an increase of $10.08 per unit to close at $996.30 per unit. The largest annual increase was also noted for Class C properties ($22.01 per unit).

  • 4,389 units are in the construction pipeline, spread over 18 projects. 29.14% of the pipeline is currently pre-leasing.

San Antonio Apartment Market Key Metrics

 Occupancy

90.90%

 Rent / Unit

$768.73

 Rent / SF

$0.944

 Monthly Change

-0.11%

 Monthly Change

+$0.68

 Monthly Change

+$0.001

 Annual Change

-1.34%

 Annual Change

+$17.30

 Annual Change

+$0.021

Absorption in the San Antonio sector in February 2014 was negative (139), while annual absorption totaled negative 479 units. 3,303 units are in the planning stage

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Houston: 713-686-9955  


 


 

 

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