While the average price per bed for skilled nursing facilities hit a record high in 2015 (at $85,900 per bed), driven largely by a record number of transactions valued above $100,000 per bed, seniors housing (assisted and independent living combined) experienced a drop in its average price per unit. After 2014 set a record with an average of $208,200 paid per unit, the average in 2015 dropped to $189,900 per unit. What drove this decrease? Well, there were fewer high-priced sales, proportionally, in 2015. The upper quartile in 2015 was $227,900 per unit, meaning that 25% of the properties sold at prices above this level. That is well off from 2014’s record-high of $250,800 per unit. However, the lower quartile in 2015 increased 32% from $100,700 per unit in 2014 to $133,300 per unit in 2015, meaning that 25% of the properties sold at prices below $133,300 per unit in 2015. So, it appears that 2014 was a year of extremes, with the higher priced deals strongly influencing the overall average. Could 2015 mark a “new normal” in pricing?