The average price per unit in assisted living increased to a record $248,400 in 2019, which was 12% higher than the previous high of $221,250 per unit in 2017, according to a new report from Norwalk, CT-based Irving Levin Associates.

The average price per unit in seniors living communities (independent and assisted living) hit $244,200 per unit in 2019, a 20% increase compared with the average in 2018, the company said. A high number of expensive assisted living sales reportedly drove the market, with more properties selling for more than $350,000 per unit than ever recorded, Irving Levin said.

Prices reflect market conditions before the coronavirus disease (COVID-19) pandemic began affecting the U.S. economy.