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Sales:
- The median price remained even at $1,050,000 from the previous quarter, giving us a YoY increase of 3.50%.
- The increase in sales from last quarter can be attributed to the increase in the number of 1 and 2-bedroom units sold. 1 Bedrooms saw a 100% increase, while 2 bedrooms saw a 114% increase.
- The average price per square foot saw a 4.93% reduction to $1,080 from Q4 2019.
Rentals:
- Total number of apartments available went up by 3.7% from Q419 as expected due to seasonality, compared to YoY, which saw a decrease of available apartments by just over 50%, indicating Q1 2020 could have been a strong rental market under normal circumstances.
- Units rented saw a huge decrease YoY, down over 35%.
- Studios were the one bright spot in the current quarter. Number of units rented saw a slight increase of PPSF, but also rather impressive increase of 33% of the number of units rented QoQ.
