The average price of apartment units that sold during the fourth quarter in Greater Des Moines dropped to $58,075 from $76,757 in the third quarter, while cap rates rose to 8.8 percent from 7.4 percent over the same period, according to data compiled by Jared Husmann of KW Commercial. Husmann said the spike in cap rates was due in large part to two transactions in C-class neighborhoods that "dramatically skewed the results." Fifteen sales accounted for 533 apartment units, including seven contract sales involving one seller and one buyer. "This form of sale may be more prevalent as buyers look to find a better deal in the face of a slowing market and sellers look to maximize the value of their properties," Husmann said.