We just finished our annual study of line-item operating expenses for our Apartment Expense Report. As important as we believe this research is, we have to admit that we cringe every February when we're faced with a stack of year-end statements waiting to be analyzed one line at a time. This year we worked our way through what seemed to be a three or four foot stack of statements for 1,073 properties with 121,764 units in the Puget Sound region. Here are some of the results that investors should pay attention to.

Median Sale Price (PER UNIT) Multifamily Seattle-Tacoma-Bellevue: