The city's multifamily transactions declined 34.2 percent with 86 sales in 2013, after having three years of rising sales. Last year's sales volume of $1.5 billion was down 21.8 percent from 2012, still more than the annual average of $1 billion since 2004, according to Hendricks-Berkadia.
Buyers targeted properties with 100 or more units, accounting for nearly three out of four sales. Even with the annual decline, last year's deal flow was above the average of 76 sales during the prior decade.
Read more...Austin apartment sales 2013: Hendricks-Berkadia via Real Estate Center at Texas A&M
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