2021 Q3 Results Reveal Record Sales Volumes & Prices
Commercial property sales totaled $462 billion for the first three quarters of the year, surging past the prior record set in 2007 when aggregate sales were $448 billion, according to Real Capital Analytics (RCA), a research firm.
Key takeaways from RCA's recent report include:
Single asset sales increase 130% YOY
Apartment and industrial sectors led all others with a 59% of all sales
CAP compression continued across all sectors
Top five metro markets for sales volume were: Dallas, Atlanta, Los Angeles, Phoenix and Boston
Apartments sales were, by far, the highest number of transactions
Industrial and Office sectors where the 2nd and 3rd most active
Average CAP rates by asset class are:
Office - 6.3%
Industrial - 5.6%
Retail - 6.4%
Apartments - 4.7%
Finally, the All-Property Price Index rose 16% YOY, RCA reported, with a 2.2% increase just since August.