The BPC Report: 4Q2021
• One-bedroom units continue to be the most popular sized unit representing 43% of the number of units sold. There was a 9% drop in activity QoQ in Q4 2021, but a 67% increase YoY.
• The average price per square foot is currently at $1,187, a 6.2% reduction QoQ, but a slight increase of nearly 2% YoY.
• Studio apartments had their strongest quarter this year with an average price of $605,833, up more than 12% from Q3.
• 127 total units rented in Q4, a 51% reduction QoQ while the average price stayed strong at $5,159, only a .5% reduction QoQ.
• One-bedroom apartments continue to be the strongest performer with an average rent of $4,320, for a 12% increase QoQ and a nearly 25% increase YoY.
• Three-bedroom units struggled in Q4 with a nearly 15% reduction in average rent QoQ and a 68% reduction in the number of units rented QoQ. However, they do show a strong recovery YoY with a 27% increase in average rent.