Last Update 4/20/24 (DOUBLE CLICK ON 1ST GRAPH)
Apple Valley 2-4 unit sales for 2023 were weak. Rents have stabilized, prices are high, and supply was low. Figures for 1Q ’24 show only three closings of 2-4 unit properties (which is an improvment from Q4 ’23).
Although the data indicates Apple Valley prices are at or over high levels of 2006 – 2007 for average unit sizes under 900+- square feet (see last graph), it is likely higher interest rates coupled with proposed more restrictive residential rental property rules will keep a lid on demand. The sample size for 2024 is too small to make a meaningful analysis of trends.
GRM’s are erratic (but generally lower).
While these charts show general trends, they should not be used to estimate value. Call us for a complementary broker price opinion.
Double click on first graph
