07 May Commercial Sales Report – April 2021
Posted at 07:49h in Content, Insights, Market Report: Baton Rouge, Research, The Sales Report 0 Comments
- As we pass the 13-month mark since the COVID shutdown in March 2020, all sectors of the commercial real estate sales market in EBR Parish are trending above historical numbers.
- The total number of commercial sales is up 37% and the total dollar ($) volume of sales is up 41% compared to the previous 6-year trends.
- Compared to this time in 2020, sales are up 54% and total dollar ($) volume is up 125%.
- After a 3-year decline in total dollar volume of sales, 2021 is on track to match the highest years we have on record–2015 and 2018 at $672.9m and $670.3m respectively.
- The Industrial sales price per square foot has remained the most stable over the previous 6 years ($47-$58/sqft) and continues to be stable through 2021 at $53.83/sqft.
- While the price per square foot of Land is very similar to 2020, total dollar ($) volume transacted is up 147% and total sales are up 131%, signaling a significant increase in sales activity in the Land sector.