The average price per unit paid for independent living communities fell to a level not seen since the four quarters ending Q3:13. In the four-quarter period ending September 30, 2015, buyers paid on average $188,200 per unit for independent living. That is a 24% decline from the heights of the calendar year 2014, when the average price paid was $246,800 per unit. In fact, every four-quarter period since then has fallen from that mark. This sharp drop off may be explained by a decline in both portfolio sales, which typically sell for a premium, and in high quality properties, which was the biggest driver behind the 2014 record.
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