Activity Increases in the Class C Sector Lowering Overall Unit Price Averages
The fourth quarter closed with seventeen transactions totaling approximately $185M, an increase since last quarter. In comparison, in the fourth quarter of 2018, there were 11 transactions amounting to $146M in sales volume. This past year did not see the same transaction slow down we had in 2018 that lasted into the second quarter. Our market has shown an increase in transactions, specifically within the Class B/C sector. Capitalization rates (CAP rates) remain compressed at a regional average of 5.6±% this quarter, which isrelatively consistent with the previous quarter.
