22 Mar Commercial Sales Report – February 2021

DOWNLOAD FULL REPORT (PDF)

• Through February 2021 the total number of commercial sales and total dollar volume of commercial sales are both up 40% over the previous 6-year averages, signaling a strong start to 2021.
• Compared to this time in 2020, the number of commercial sales in 2021 is up 36% and the total dollar volume transacted is up 63%.
• The Industrial sector remains the most active (sales up 150%, volume up 260%) compared to prior year averages, while sales of Land lag behind expected numbers.
• The Multifamily sector has seen fewer sales during the first two months of 2021 but total dollar volume transacted is up 115% and the average sale price per unit is at the highest seen in 6 years–$60,240/unit.
• Compared to previous year averages, the number of Retail properties sold has increased while the total dollar volume has decreased. However, average price per square foot is at a 6-year high–$202/sf.
• The Office sector has now exceeded previous year averages by nearly 40% through February as both the total dollar volume transacted ($19.5m) and the price per square foot ($117.29) rise above 2020 numbers.