San Diego Unit Transfers Hit Record Level

Apartment transfers in San Diego County reached a record pace in October, with the sale of 168 projects with a total of 2,892 units, according to the latest figures from John Burnham & Co., San Diego.

The October apartment sales level was 33% above the 126 projects (2,182 units) sold in October, 1984. In the first 10 months of 1985, a total of 1,328 apartment complexes changed hands, representing 21,539 units, according to Burnham’s George Carlson. The 1,328 figure is 6% ahead of the comparable period in 1984, he added.

New apartment construction in October remained strong at $33,417,525, representing 814 units, a 102% increase over the $16,438,292 (446 units) pace for October, 1984, Carlson said.

New condominium construction continued its year-long slump with permits for only 276 units valued at $12,276,083 issued in October. For the first 10 months of 1985, condominium permits valued at $174,955,531 (3,751 units) were issued, a 39% decrease from the $286,990,925 valuation (5,764 units) for the same period last year.