We first separated out the “A” properties from the “B” properties in 2012, based on the properties’ age, size and location. While there will likely be some “A” communities mixed in with the “B” communities (and the other way around), it all evens out. And when looking at the numbers, these are clearly two different markets. In 2015, “A” properties sold for an average of $248,500 per unit, while “B” properties sold for an average of $138,300 per unit, a difference of $110,200. That means that “A” properties were worth almost double the value of “B” properties. The previous year (2014) the difference was amplified even more. “A” properties in 2014 sold for an average of $244,800 per unit and “B” properties sold at an average of $102,300 per unit (a $142,500 difference. Evidently, owners of high-quality, well-operating properties that previously would not have considered a sale are still being lured to market by high prices, which explains the increase in average “A” property prices. The average “A” cap rate was about 7.25%, compared with 8.1% for “B”, similar to both of 2014’s values (7.2% and 8.3%, respectively).