Commercial sales transactions and deal velocity in East Baton Rouge Parish trended up in November, according to Elifin Realty’s latest data.
Sales rose 5.74% to 435.7 million in November from $412 million in October. Deal velocity increased by 3.58% to 347, from 335 the previous month.
Multifamily
The multifamily sector saw a 2.95% increase in sales volume last month. The trailing 12-month sales volume was $68.5 million compared to $67.1 million in October. Deal velocity increased 3.3%, and property values increased to $48,600 per unit in November from $47,800 the prior month.
Retail
Retail saw a significant bump in sales in November following a dip in October. The dollar volume increased 13.83% to $88.6 million, from $77.8 million in October. Deal velocity saw a 5.33% increase, while the average trailing 12-month price per square foot jumped 17.53% to $285.11 in November, up from $242.59.
Office
This sector experienced increased sales volume but a dip in property values. Sales volume increased 4.62%, from $92.8 million in October to $97.1 million last month. Property values decreased slightly, from $146.42 per square foot in October to $144.34 in November. Deal velocity remained steady.
Industrial and land
Industrial sales volume increased 10.5% to $53.8 million, from $48.7 million in October. The price per square foot dipped slightly from $64.86 in October to $62.96 last month. Deal velocity rose nearly 9%.
Sales increased by nearly 15% in the land sector. The volume totaled $44.2 million last month, compared to $38.7 million in October. The cost per square foot increased 2% to $9.69, up from $9.50 at the end of October. Deal velocity went up 7.14%.
