10 Jan Commercial Sales Report – December 2022
Posted at 07:41h in Content, Insights, Market Report: Baton Rouge, Research, The Sales Report 0 Comments
- The East Baton Rouge Parish commercial real estate sales market ended 2022 with 531 recorded sales totaling $1.175 billion in transaction volume. That is 5 fewer transactions than 2021 and $165 million more in volume.
- Like in 2021, Multifamily sales in 2022 saw the most volume with $511 million transacted (43%) and Industrial saw the least with $58.7 million (4.9%).
- Sales activity for all property types increased in 2022 compared to the 7-year averages, except for land transactions which held nearly the same.
- The number of Retail (-9.4%), Office (-6.3%), and Land (-24.5%) transactions decreased in 2022 while Multifamily (+36.6%) and Industrial (+9.7%) increased, compared to 2021.