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- Average sales price per unit over the past six month’s is coming in at approximately $136,000 per unit. This fi gure is slightly lower than in Spring of 2008.
- Cap rates countywide are averaging approximately 5.75%. Higher quality properties and locations are holding up the best. Rental rates, though, continue upwards throughout the county, increasing approximately 2.4% over the past six months for a total of 4.2% over the past year.
- The apparent beneficiary of the poor “for sale” housing market, apartment vacancy rates, at an average of 2.25% countywide, are at their lowest levels since 2001. Proposed new development shows a slight increase to 10,619 units planned, but still at very subdued levels compared to just a few years ago.
- With prices down, rents up, low vacancy and little new development, there is good value for new investors.
Contact Peter Scepanovic at 760.930.7940 for more information.
  San Diego Multi-Family Market Report - 2008Q3.pdf
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