San Diego San Diego

San Diego multifamily family investment sales activity increased significantly in the first quarter. According to research from ABI Multifamily, San Diego multifamily sales totaled $650 million, a 184.4% increase over the first quarter of 2018, when sales volumes totaled $229 million.

In addition to the increase in sales volumes, price per unit also increased 18.8% to $271,595, compared to $228,589 at the same time last year. Price per square foot increased 22.3% to $338.66.

This investment activity is the result of a strong apartment market. Multifamily rents increased 4.1% to an average of $1,940. However, the apartment vacancy rate tick up .5% to 95.9%, compared to 96.4% last year.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.