The FIDI Report: 3Q2020
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Sales:
• The average sale price in Q3 2020 was $1,853,547 compared to $1,051,204 for the same quarter last year.
• The 79%+ increase in average sale price can be attributed to the substantial increase in the number of larger apartments sold. 9 two-bed apartments sold last year compared to 22 in Q2 this year, an increase of more than 144%.
• Studios took the biggest hit YoY with only 3 sales closing in Q3 2020, compared to 18 in 2019.
Rentals:
• Two-bedroom apartments showed the greatest strength this quarter. 234 units were rented in Q3 2020, up 220% from the previous quarter, and up 31% YoY.
• 790 units were rented Q3 2020, down 33% YoY with Q3 2019 showing 1,180 units rented.
• Studio apartments took the biggest hit this quarter with only 293 units renting, down from 598 in Q4 2020, a decrease of 51%.
