Overall, commercial sales transactions and deal velocity in East Baton Rouge Parish were down a tick last month, according to Elifin Realty’s latest data.
Sales declined less than 1%, with the 12-month trailing volume totaling $423.9 million in September. Deal velocity decreased 4.4% from August.
Multifamily
The multifamily sector saw a slight decrease in sales volume in September, dropping 0.35%. The trailing 12-month sales volume was $76.2 million last month compared to $76.5 million in August. Deal velocity remained steady while property values increased 4.98% to $51.8K per unit.
Retail
Retail rebounded from a 14.15% decline in dollar volume in August to experience increases across the board in September. The retail dollar volume in September increased 4.69% from $80 million in August to $83.7 million. Deal velocity increased 2.44%, and the average trailing 12-month price per square foot was $224.35 in September, up from $223.48 in August.
Office
The office sector experienced a slight decrease overall. Sales volume dipped 4.34% from August to September. Deal velocity decreased by 4.35%. Property values dropped less than 1%, with the price per square foot dipping from $146.27 in August to $145.74 in September.
Industrial and land
The industrial sales volume rose 4.72% to $57 million in September from $54.4 million the prior month. The price per square foot increased from $63.46 in August to $66.25 in September. Deal velocity decreased by 2.2%.
Property values dipped 1.31% in the land sector. The cost per square foot was $7.14 in September compared to $7.23 at the end of August. Sales declined 15.74% to $35.8 million last month from $42.5 million in August. Deal velocity dropped 15.69%.
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