The average sale price per unit for 2020 remained the same, as no notable sales took place during Q2 2020. In Q1 2020, the average sale price per unit was $45,488.
The occupancy rate for the quarter remained at 94.0%. Occupancy hasn’t dipped below 94.0% since Q2 2011. During that time period, average asking rental rates have increased by 29.7%.
Development has continued to surge—at the end of Q2 2020 there were 5,549 units under construction, spread across 31 buildings. This marks a 210% increase over the number of units under construction five years ago.