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Commercial sales transactions in East Baton Rouge Parish have declined 3.17%, with the 12-month trailing volume totaling $591.5 million last month.
Overall sales also saw a 4.10% decrease in deal velocity, according to the latest data compiled by Elifin Realty.
Here is a look at how each sector performed in March, according to the data:
Multifamily
This sector saw a 4.40% decrease in volume. At the end of March, the trailing 12-month sales volume totaled $254.9 million, compared to $266.6 million at the end of February.
Deal velocity for multifamily properties decreased by 2.56%.
Retail
This sector experienced the most significant decline in sales volume, dipping 7.86% from last month. The trailing 12-month sales volume was $98.9M at the end of March compared to $107.4M at the end of February. Deal velocity decreased 6.8% while property values remained steady, with the trailing 12-month average price per square foot holding at $198.79.
Industrial and Office
Both sectors dropped in sales volume. Industrial sales saw the most significant dip at 5.72%, totaling $52.6 million compared to $55.8 million the previous month. Deal velocity also decreased by 7.06%. Property values in the industrial sector rose 2.97% and 1.56% in the office sector.
Land
The land sector is the only one that posted an increase in property values, sales volume, and deal velocity.
The dollar volume is up 5.67%. The trailing 12-month sales volume was $68.9M at the end of Mar 2024 vs. $65.2M at the end of February.
