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CoStar Commercial Repeat-Sale Indices, February 2011 February 10, 2011

Posted by Sean Tufts in Articles, Research/Data.
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CoStar’s latest indices report is out wrapping up 2010.  Some quotes and highlights from their report:

  • In the West region, all property types are down in recent quarters except for Retail, which is stabilizing.
  • Overall, pricing for commercial real estate in the Northeast remains 15% lower than its pre-recession pricing levels. The West, Midwest and Southeast regions remain down 38%, 39% and 28% respectively.
  • The pricing index for General Grade commercial real estate lost 8.2% for the quarter and 11% for the year, and declined nearly 23% in the past two years.
  • For the full quarter ending in December 2010, we saw declines across all property type indices when using the composite that includes all property sizes with industrial and retail down nearly 10%, office off 7% and multifamily off nearly 2%.
  • Distress sales as a percent of the total has been increasing in each of the four quarters in 2010 with just over 20% in the 4th quarter with 18.5% for all of 2010.

The West has taken a massive hit and has yet to see much recovery. Below is chart of the West by product type.

It remains difficult to relate this data with actual deals on the ground but it does help give a sense of where we are relative to the full RE cycle.

The full release is here.

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