Byย CommercialSearch/Yardi Matrixย
Over the past decade, the price-per-unit for multifamily properties surged 156ย percent, reaching nearly $160K. This increase surpassed both median home sale prices and rental rates.ย
The latestย CommercialSearchย studyโฏcompared and rankedโฏthe most active U.S. metros in terms of multifamily sales since 2009.ย
Here are some highlights:ย
- Phoenixย is the sixth hottest U.S. market for multifamily sales over the last decade. Since 2009, Phoenix registered more thanโฏ$42Bโฏin multifamily sales.ย
- In terms of transactions,โฏ1,711โฏdeals were completed across the metro since 2009, totalingโฏ385,717โฏunits.ย
- In 2020 alone, Phoenix closedโฏ125โฏdeals, claiming the 3rd spot. The market had only 21 dealsย fewerย than Dallas-Fort Worth, which took #1.ย
- For comparison, nationally, the average rent saw aโฏ37ย percentโฏincrease to $1,462 and the median home sale price was up roughlyโฏ58ย percentย since 2009 to $313,200.ย (Source)ย