The REALTORS® Commercial Real Estate Market Survey measures quarterly activity in the commercial real estate markets. The survey collects data from commercial REALTORS®. The survey is designed to provide an overview of market performance, sales and rental transactions, along with current economic challenges and future expectations.
2013 Q4 Survey Highlights
- REALTOR® commercial markets maintained momentum in sales and leasing activity.
- Sixty-six percent of commercial REALTORS® closed a sales transaction.
- Sales volume rose 8 percent from a year ago.
- Sales prices increased 1 percent on a year-over-year basis.
- Cap rates averaged 8.7 percent during the fourth quarter.
- Leasing activity advanced 0.4 percent from the previous quarter, virtually flat.
- Rental rates increased 0.3 percent compared with the previous quarter.
- Concession levels declined 4.0 percent on a quarterly basis.
- Pricing gap topped the list of current challenges, followed by shortage of inventory.
- The estimated average transaction slid from $1.3 million to $1.2 million from the prior quarter.