Commercial sales transactions in East Baton Rouge Parish are up nearly 4%, with the 12-month trailing volume totaling $610.9 million last month.
Here’s a look at how each sector is performing, according to the latest data compiled by Elifin Realty:
Multifamily
This sector saw the largest growth at 8.69%. The trailing 12-month sales volume totaled $266.6 million at the end of February compared to $245.3 million at the end of January, In addition to the increase in volume, overall sales saw a 0.48% increase in deal velocity. Deal velocity for multifamily properties increased 5.41%
Retail
This sector posted a 3.1% gain in sales volume. The trailing 12-month sales volume was $107.4M at the end of last month.
Industrial, office, and land
Each of these sectors dropped more than 3% in sales volume. Office sales saw the most significant dip at 4.89%, totaling $82.5 million compared to $86.7 million the previous month. Deal velocity also decreased by 2.78%.
In the land sector, property values, dollar volume and deal velocity are down by over 4%. Deal velocity is down the most, decreasing by 5.97%.
Property values in the industrial sector saw the biggest gain, rising 3.56%. The trailing 12-month average price per square foot was $65.92 at the end of February compared to $63.66 at the end of January.
