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 a momentum in sales and leasing activity.
- 66% of commercial REALTORS® closed a sales transaction.
- Sales volume rose 8% from a year ago.
- Sales prices increased 1% on a year-over-year basis.
- Cap rates averaged 8.7% during the fourth quarter.
- Leasing activity advanced 0.4% from the previous quarter, virtually flat.
- Rental rates increased 0.3% compared with the previous quarter.
- Concession levels declined 4% 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.