- Feb 21, 2018
Sale prices per square foot for all property types averaged at $208 in the fourth quarter of 2017, with CBD Office properties commanding the highest value of $384. The price per square foot for this asset type decreased only by 1.5 percent on a year-over-year basis. Compared to the fourth quarter of 2016, Retail properties recorded significant drops in pricing, falling by 9.1 percent, while Suburban Office properties followed closely with a 7.6 decline. Industrial properties recorded an increase of 1.3 percent over the same period of time. In the multifamily sector, sale prices per square foot for Garden Apartments increased by 6.7 percent year-over-year, while Mid/High-rise Apartments registered a slight drop of 0.4 percent.
—Posted on Feb. 21, 2018
In the third quarter of 2017, the price per square foot in transactions for all property types averaged at $194. CBD Office properties posted the highest value of $298 per square foot. The price per square foot for this property type decreased by 9.4 percent on a year-over-year basis. Compared to the third quarter of 2016, Suburban Office properties registered the highest increase of 9.8 percent per square foot, followed by Garden Apartment assets (8.6 percent) and Industrial properties (6.3 percent). The price per square foot for Retail properties ranked the lowest year-over-year, dropping 23.6 percent.
Multifamily properties posted an average price per square foot of $193 in the third quarter of 2017, a 4.1 increase year-over-year. Mid- and High-rise Apartment property types recorded an average of $261 per square foot, while Garden Apartments averaged $126 per square foot. Compared to the first quarter of 2017, the price per square foot increased by 7.7 percent for Garden Apartments and by 9.2 percent for Mid- and High-rise Apartments. The third quarter of 2017 marked a peak in price per square foot values for both property types compared to the previous four quarters. On a year-over-year basis, average prices declined by 8.6 percent for Garden Apartments and by 9.2 percent for Mid- and High-rise Apartments.
—Posted on Dec. 30, 2017