14 Sep Commercial Sales Report – August 2020
Louisiana remained in Phase Two of the federal government’s plan for reopening throughout the month of August. Dollar volume of sales for all commercial property transactions year to date is currently 18.79% lower than the previous 5-year low in 2016.
Throughout the pandemic, the number and dollar volume of retail transactions has remained notably higher than previous years. The industrial sector has also seen an increase in activity, especially over the last month. Multifamily and land sales figures are markedly lower than the average year to date over the last five years. The office sector has seen a less severe decrease in activity.
Even though year to date commercial sales activity is lower than average, the total number of commercial transactions remained constant throughout July and August. This is a promising sign of a return to normalcy in the commercial real estate market.