Market Summary
* Key metrics of the San Antonio area multifamily sector were mostly positive in October.
* Overall occupancy recorded a decrease for the second consecutive month, with occupancy coming down for all classes. Occupancy in Class B properties came down by close to a percentage compared to the previous month. Over the year, occupancy increased in all classes except Class D.
* Average rental rates per square foot increased for all classes except Class A. The class A average ($1.042) represented a decrease of $0.001 over the month. The average for Class B increased by $0.003 to close at $0.866.
* Rental rates per unit also recorded a marginal decrease over the month for Class A properties (-$0.21, $950.59) while improving by $13.04 over the year for that Class. The average for Class B properties improved by $2.21 over the month to close at $670.37 per unit.
* 3,039 units are in the construction pipeline, 38% of which are currently pre-leasing. Pre-leasing is underway in five communities, the largest of which will have 539 units.
San Antonio Apartment Market Key Metrics
Occupancy
91.69%
Monthly Change
-0.34%
Annual Change
+1.05%
Rent / Unit
$716.52
Monthly Change
+$1.03
Annual Change
+$10.14
Rent / SF
$0.881
Monthly Change
+$0.002
Annual Change
+$0.013
Absorption in the San Antonio sector in October was negative (-232) for the second consecutive month, while annual absorption totaled positive 1,882 units. 2,030 units are in the planning stage.
The Market Research and Consulting division of O'Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Houston industrial space leasing, Houston apartments, Dallas apartments, Ft. Worth apartments, Austin apartments, and San Antonio apartments.
Investment property decision makers rely upon O'Connor & Associates' Market Research and Consulting division for both market data and construction services. Data regarding individual properties, submarkets, construction, absorption, and rental rate and occupancy trends provides the information needed to make prudent decisions.
Timely and accurate data is the foundation for making informed decisions regarding real estate investing. O'Connor & Associates collects rental and occupancy rate data on a monthly basis for Fort Worth Apartments, San Antonio Apartments, Dallas Apartments, Austin Apartments, Houston Apartments, Houston Office space, Houston industrial space and Houston retail space.
Lenders, appraisers, developers, investors, tenants and real estate brokers are just some of the real estate professionals who regularly need real estate market data. They seek timely raw data and summary statistics regarding the market and submarkets. O'Connor & Associates has been providing this information since 1988.
Regularly updated primary market data is the basis for quality real estate market data. It provides the basis for market analysis including absorption, rental rate trends and occupancy rate trends. O'Connor & Associates has provided timely real estate market research since 1988. The data is used by our appraisers, real estate consultants, property tax consultants and clients.
This capacity to research, analyze and interpret market trends and the impact of specific transactions is a major reason for why developers and acquisition experts rely on O’Connor & Associates for
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