Austin Real Estate Trends is prepared for investors, lenders, brokers, developers, management companies and other industry professionals to provide transaction data and insights into market trends. The newsletter covers significant transactions and economic and financial news for Multifamily, Retail, Office, Industrial, Single-family and Vacant land.
Apartment market occupancy in the Austin area stood at 94.19% in April 2014, a decrease of 0.03% compared to the adjusted figure for the previous month, according to www.oconnordata.com, O’Connor & Associates data. Overall rents stood at $1.121 per square foot, an increase of $0.001 per square foot from March 2014. Rental rates increased by $0.002 per square foot for Class D properties. Rental rates increased by $0.001 per square foot for Class A, Class B and Class C properties, when compared to the previous month. Pre-leasing is currently underway in 16 communities (4,694 units) out of the 33 total properties (9,599 units) in the construction pipeline city-wide.
Read more...Austin Real Estate Trends - May 2014
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