Pricing in both seniors housing and care saw positive upswings in 2019, according to two recently published market analyses.
Data released by the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service reports that the average senior housing price per unit reached more than $200,000 for the first time last month. Seniors housing and care closed transactions volume in 2019 registered $15.7 billion, which includes $11.1 billion in seniors housing, and $4.7 billion in nursing care. The total volume was up almost 6% compared with 2018 volume of $14.9 billion.
Further, the 2020 Senior Care Acquisition Report, set to be released this month by Irving Levin Associates, shows that buyers pushed assisted living values to the highest per-unit average ever recorded. The average price for assisted living communities rose to $248,400 per unit, or 33% higher than 2018’s average of $186,400 per unit and 12% higher than the previous high of $221,250 per unit in 2017. The median price per unit also reached a new high of $233,183 per unit, or 54% higher than 2018’s median and 8% higher than the median in 2017.
Barring any economic or capital market shocks, analysts predict continued interest from investors throughout 2020.
