CBRE has recently published the Q3 2024 Denver Multifamily Figures, which show promising growth for the city. The investment sales volume for this quarter reached $1.7 billion, marking a significant increase from previous quarters and a 61% rise compared to last year.
The occupancy rate in Denver’s multifamily market also saw an improvement at 94%, up by 10 basis points from Q2 of this year and a further increase of 30 bps compared to last year.
Q3 of this year saw an absorption rate of over five thousand units, showing strong demand in the market with a notable increase from both Q2 and the same time period last year.
Deliveries also hit record numbers with almost five thousand units completed so far this year, surpassing figures seen in previous years.
The average rent per unit rose slightly to $1,930 in Q3 but showed a decline when compared to peak rental prices seen back in Q3 of last year at $1,941 per unit.
Don’t miss out on Connect Retail West conference next Wednesday on November 6th where you can learn from experts such as ICSC and Caruso about current trends within retail CRE. Register now before pricing increases on event day!
