Seniors housing properties continue to draw healthy bids, with buyers paying relatively high prices as indicated by the fact that the per-unit price has remained fairly stable over the past couple of years, according to the National Investment Center for Seniors Housing & Care.

The per-unit price increased to $175,600 in the second quarter, a 4.3% jump from the previous quarter and up 1.7% compared with the same quarter of 2017, NIC Senior Principal Bill Kauffman wrote Wednesday in a blog post.

“It is now up 200% from the time-series low, set in the second quarter of 2010, representing a 14.7% annual growth rate in price per unit since that time,” he said. “For seniors housing, it has been quite a good run in terms of price appreciation, not unlike the runup experienced with most asset classes since 2010.”

Per-bed prices in skilled nursing, on the other hand, have been trending downward, Kauffman said. The blog has additional information.

Private buyers accounted for 45% of the total dollar volume closed across all buyers in 2018 through the second quarter, or $2.3 billion of $5.1 billion, according to NIC. The group represented more total dollar volume than public, institutional or other buyer types.

Private buyers have averaged more than $1 billion per quarter in transactions over the past 10 years, Kauffman said.

Private-buyer volume in the second quarter was down from the first quarter and from the second quarter of 2017, however, he wrote. The blog has additional information.