Prices for Multifamily Properties Reach New Highs

Buyers are snapping up multifamily properties, driving up prices above pre-recession peaks in some markets. Moody’s Real Capital Analytics Commercial Property Price Indices showed apartment and office properties in central business districts in major markets and apartment buildings in major markets are at their highest as of June.

A June report from CoStar Realty Information, Inc. also stated, “Average sale prices for core multifamily and office properties in major markets have soared well above their 2006–07 average…Investors continued to aggressively pursue those types of properties.” The report also showed the sales price to asking price ratio was 88%, demonstrating the improved liquidity in the investment sales market.

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