Only 15 projects, built from 1975 to 2000, had sold through thethird quarter.
In a breakdown, four of the sold projects, built since 1995, hadgone for an average price of $88,962 per unit or $90.71 per sf. Oneproject, built between 1990 and 1994, had fetched $96,324 per unitor $103.83 per sf. Two projects, built between 1985 and 1989, hadbrought in $62,561 per unit or $69.19 per sf while three projects,built in the 1975-79 period, had sold for $43,111 per unit or$55.01 per sf.
"Denver's continued economic expansion provided sold support forthe local apartment market in the third quarter," the report says.The overall vacancy rate had dropped slightly to 3.4%, down from3.6% a year ago. "Demand excelled as 3,879 units were absorbed, upfrom 2,899 units absorbed one year ago," according to thereport.
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