Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
HEALY JOHN J JR
   2. Issuer Name and Ticker or Trading Symbol
AVALONBAY COMMUNITIES INC [AVB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O AVALONBAY COMMUNITIES, INC., 2900 EISENHOWER AVE., SUITE 300		 3. Date of Earliest Transaction (Month/Day/Year)
01/04/2004
(Street)

ALEXANDRIA, VA 22314		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.01 per share 01/04/2005   M   10,000 A $ 36.125 26,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   M   10,000 A $ 36 36,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   M   10,000 A $ 40.5 46,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   M   7,000 A $ 44.35 53,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   M   7,000 A $ 46.36 60,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   M   7,000 A $ 43.14 67,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2004   S   10,000 D $ 74.75 57,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   9,500 D $ 73.9 48,241.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   500 D $ 73.93 47,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   800 D $ 74.47 46,941.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   9,200 D $ 74.45 37,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   200 D $ 74.97 37,541.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   400 D $ 74.95 37,141.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   300 D $ 74.22 36,841.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   300 D $ 74.21 36,541.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   5,000 D $ 73.85 31,541.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   400 D $ 73.74 31,141.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   400 D $ 74.2 30,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   7,000 D $ 74.2 23,741.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   3,100 D $ 74.25 20,641.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   3,800 D $ 73.73 16,841.834 (1) D  
Common Stock, par value $.01 per share 01/04/2005   S   100 D $ 74.2 16,741.834 (1) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $ 36.125 01/04/2005   M     10,000 06/11/1999 06/11/2008 Common Stock 10,000 $ 0 (2) 41,000 (3) D  
Stock Options (Right to Buy) $ 36 01/04/2005   M     10,000 05/12/2000 05/12/2009 Common Stock 10,000 $ 0 (4) 31,000 (5) D  
Stock Options (Right to Buy) $ 40.5 01/04/2005   M     10,000 05/17/2001 05/17/2010 Common Stock 10,000 $ 0 (6) 21,000 (7) D  
Stock Options (Right to Buy) $ 44.35 01/04/2005   M     7,000 05/15/2002 05/15/2011 Common Stock 7,000 $ 0 (8) 14,000 (9) D  
Stock Option (Right to Buy) $ 46.36 01/04/2005   M     7,000 05/14/2003 05/14/2012 Common Stock 7,000 $ 0 (10) 7,000 (11) D  
Stock Option (Right to Buy) $ 43.14 01/04/2005   M     7,000 05/21/2004 05/21/2013 Common Stock 7,000 $ 0 (12) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HEALY JOHN J JR
C/O AVALONBAY COMMUNITIES, INC.
2900 EISENHOWER AVE., SUITE 300
ALEXANDRIA, VA 22314		   X      

Signatures

 By Edward M. Schulman under Power of Attorney dated January 27, 2000   01/05/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including Deferred Stock Units ("Units"), which may be subject to vesting requirements. The Units will convert into common stock on a one for one basis when the reporting person ceases to be an employee or director of the issuer.
(2) The options exercised were included in options granted on June 11, 1998 under the issuer's Stock Option and Incentive Plan.
(3) The number of derivative securities beneficially owned following the reported transaction includes options granted in prior periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds no more options that expire on June 11, 2008 with an exercise price of $36.125.
(4) The options exercised were included in options granted on May 12, 1999 under the issuer's Stock Option and Incentive Plan.
(5) The number of derivative securities beneficially owned following the reported transaction includes options granted in prior periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds no more options that expire on May 12, 2009 with an exercise price of $36.00.
(6) The options exercised were included in options granted on May 17, 2000 under the issuer's Stock Option and Incentive Plan.
(7) The number of derivative securities beneficially owned following the reported transaction includes options granted in prior periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds no more options that expire on May 17, 2010 with an exercise price of $40.50.
(8) The options exercised were included in options granted on May 15, 2001 under the issuer's Stock Option and Incentive Plan.
(9) The number of derivative securities beneficially owned following the reported transaction includes options granted in prior periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds no more options that expire on May 15, 2011 with an exercise price of $44.35.
(10) The options exercised were included in options granted on May 14, 2002 under the issuer's Stock Option and Incentive Plan.
(11) The number of derivative securities beneficially owned following the reported transaction includes options granted in various periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds no more options that expire on May 14, 2012 with an exercise price of $46.36.
(12) The options exercised were included in options granted on May 21, 2003 under the issuer's Stock Option and Incentive Plan.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.