Home | Newsletter | Advertise
loading...

Multifamily Building Sales in DC Surged in 2011

  • January 17th 2012

by Shilpi Paul

Multifamily Building Sales in DC Surged in 2011: Figure 1

Multi-family building sales surged in the DC area last year, reported the Washington Business Journal recently.

Apartment and condo building sales hit $4.7 billion in 2011, according to data released by the CBRE Group. In 2010, multifamily sales were at $3.54 billion.

From the Business Journal:

Properties near Metro stations tended to command the strongest sale prices and rental rates increased more in the District than in its outlying suburbs, the brokerage said. “People are paying a premium to be within a one-block radius of a Metro station, and properties within walking distance of Metro stations continue to be a strong lure for investors,” CBRE Vice Chairman Bill Roohan, who heads CBRE’s D.C. multifamily housing group, said in a statement.

With apartment vacancy rates low, investors apparently want to get in on DC’s rental market. CBRE predicts that rents may rise as much as 7 percent this year within the District.

See other articles related to: apartments, dclofts, renting

This article originally published at https://dc.urbanturf.com/articles/blog/multifamily_building_sales_surged_in_2011/4932.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse