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3 Nov, 2024
Analysis | Latest
October Recap
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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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 10×10 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.

10×10 CC web rates for top 4 REITs in the top 25 markets.

Check out previous months recap: