16 Aug Commercial Sales Report – July 2021

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• Continuing the high activity trend of 2021, July 2021 brought the total number of commercial sales to 295, a 62% increase over this time in 2020 and a 45% increase over the 6-year average.
• All sectors are trending above their respective 6-year averages in total number of transactions and total dollar volume transacted.
• A total of $489mm has been transacted so far in 2021, nearly matching the entire year of 2020 which saw a total of $498.6mm.
• The transaction volume in the Multifamily sector is currently 10 times higher than this time last year and has already exceeded the total transaction volume of both 2019 and 2020.
• Land sales have seen an increase in all 3 measured metrics. The total dollar volume YTD is 56% higher than the 6-year average and the price per SF is the highest average seen in the last 5 years.
• With an average sale price per square foot of $190 in July–lead by high dollar medical office sales–the Office sector’s average sale price per SF is currently the highest on record at $139.29/SF.