Commercial Real Estate Update - March 2011
The commercial building sales market in Ouachita Parish is heating up and looks to be a much better 2011 than 2010. Year to date, we have seen a roughly 40% increase in commercial building sales in 2011 over 2010. In addition, the Average Days on Market (DOM) has dropped dramatically from well over 300 to approximately 100 days. Final Sales Price as a percentage of Asking Price is also on the rise. These three factors strongly indicate the market for commercial building sales in Ouachtia Parish is shaping up to be much stronger in 2011.
Total Volume %Change Ask Price % Avg. DOM
Feb 2010: $1,406,000 79.17 380
Feb 2011: $2,165,000 +53.98 84.26 139
YTD 2010: $1,756,000 81.86 333
YTD 2011: $2,483,000 +41.40 85.99 96
YTD = Year to Date
%Change = Increase or Decrease over same time period last year
Ask Price % = Final Sales Price as a percentage of Asking Price
Avg. DOM = Average Days on Market
MLS COMMERCIAL BUILDING SALES - YTD THRU FEB 2010
MLS COMMERCIAL BUILDING SALES - YTD THRU FEB 2011
Source: Northeast Louisiana Association of Realtors
FOR MORE INFORMATION ON THE COMMERCIAL REAL ESTATE MARKET IN MONROE, WEST MONROE, & OUACHITA PARISH INCLUDING:
- RECENT SALES
- BUILDINGS UNDER CONSTRUCTION
- MARKET DATA
- NEW BUSINESSES
- ECONOMIC OUTLOOK
GO TO THE KELLER WILLIAMS COMMERCIAL FACEBOOK PAGE
FOR MORE INFORMATION ON CURRENTLY AVAILABLE PROPERTIES, GO TO WWW.TRI-STATEPROPERTIES.COM
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