Below is the sales data of new construction conventional apartment complexes built since 2017 that have closed in the trailing 24 months in the 6 central and north Florida markets we track. Of the 32 total sales in both years combined, 22 were in the Orlando area so we separated the data to show Orlando alone, the non-Orlando markets alone, and then combined all the markets in to one to show the most accurate data. The non-Orlando markets are Jacksonville, Gainesville, Ocala, Volusia County (Daytona, Ormond, Deland, etc.), and Tallahassee.
For clarity, the 2017 row of stats would be apartment complexes that were constructed in 2017 but sold within the trailing 24 months ending March 2020.
Looking at all 6 markets combined for 2018 constructed sales, it looks like the typical deal is:
For the limited sales of non-Orlando data it appeared that sales price/unit and GRMs were on average about 6-8% less than Orlando.
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