03 Nov 2024
With October behind us we can take a look to analyze how asking rates have trended year over year for the month of October 2024.
The average price per square foot for a CC 10x10 unit in the top 25 markets advertised by the REITs for the month of October 2024 was $1.05 which was an 11.8% decrease year over year.
The REITs lowered asking rates to use price as a lever to capture the demand for self storage that was out there. With us leaving lease up season and demand slowing down even more into Winter I wonder when we will hit the bottom of the asking rates being advertised.
10x10 CC web rates for top 4 REITs in the top 25 markets.
Check out previous months recap:
