Closing Data by CLass Rank

The chart below shows the total number of closings by class rank, within each market, for the trailing 24 months ending March 2019. For example, in Gainesville there are 5 times more Class C closings than Class A closings. In other markets it is a considerably larger difference from A to C. In all the markets there are just as few Affordable housing closings as there are Class A closings. We track Orlando separately because as a primarily institutional market, the findings are vastly different. Nearly a fourth of the closings in Orlando were Class A. Compare this to Gainesville, the 2nd highest Class A market, only had 10%.

This data is valuable to investors as it shows the number of deals done in each asset class in each market, and gives perspective on the importance of acting fast when the rare deals show up. A typical B class investor looking to pick up more units in the Tallahassee market will see that there has been only 20 deals done in 2 years. That equates to only about 2 deals per quarter. Think about how many hundreds of other investors are trying to acquire B class value add deals in Tallahassee at that time. God forbid you’re a Class A buyer!

I break down these rankings even further into A, B+, B, B-, C+, C, C-, and Affordable.  Please reach out to me if you’d like further info.

Orlando includes Orange, Seminole, Lake and Osceola counties. Jacksonville includes Duval, Clay and St. John's counties.

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