14 Jul Commercial Sales Report – June 2021
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- Through June 2021, the commercial sales market continues to outpace the previous six years in total number of sales and dollar volume.
- There has been a total of 255 commercial property sales recorded so far in 2021, at a dollar volume of over $415 million.
- These numbers exceed the previous highs of 2018 and represent a huge increase over 2020 numbers with total sales up 75% and dollar volume up 169%.
- The Multifamily sector continues to see the largest increase in activity with the total number of sales nearly triple that of 2020, and the total dollar volume transacted over nine times higher.
- The Industrial sector’s sales price per square foot has remained extremely stable (0.7% increase vs. 6- year average) while the total activity continues to increase compared to 2020.
- Office properties, so far in 2021, have been selling at an average of $12/SF more than in 2020 and 9.3% higher than the previous 6-year average.