The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 10, 2023
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SAN DIEGO NEWS
Printer-friendly Version   Email an Associate
San Diego Multifamily Market Closed Out 2022 with Strong 4th Quarter

2/27/23

This 4th quarter 2022 overview provided by real estate services firm Northmarq

San Diego multifamily market highlights:

Most property performance metrics in San Diego improved in 2022, and conditions were strong in the fourth quarter. Asking rents ticked higher in the final months of the year while vacancy rose slightly.

Local vacancy trended higher before the end of 2022, rising 20 basis points in the fourth quarter to 3.5%. This followed a period of four consecutive quarters where the rate declined. Year over year, the vacancy rate tightened 80 basis points.

Apartment rents ticked higher in the final months of the year, rising 1.8% to $2,327 per month. In 2022, asking rents rose 8 percent.

The multifamily investment market made some gains at the end of 2022, as deal volume accelerated, and sales prices remained above the 2021 figure. The median sales price in 2022 reached $358,900 per unit, up nearly 12%. Cap rates averaged around 4% during the fourth quarter.




Return to the previous page
 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2023 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media