Commercial sales transactions and deal velocity in East Baton Rouge Parish were down in October, according to Elifin Realty’s latest data.
Sales were down by nearly 3%, with the 12-month trailing volume totaling $412 million last month. Deal velocity decreased by 4%.
Multifamily
The multifamily sector saw a 12.92% decrease in sales volume in October. The trailing 12-month sales volume was $67.1 million last month compared to $77.1 million in September. Deal velocity remained steady, while property values decreased to $47,800 per unit in October from $50,500 the prior month.
Retail
After retail saw increases across the board in September, sales volume and deal velocity dipped last month. The retail dollar volume decreased 7.99% from $83.7 million in September to $77 million in October. Deal velocity declined by 11.9%, while the average trailing 12-month price per square foot was $244.70 in October, up from $224.35 in September.
Office
This sector saw an increase in both sales volume and property values. Sales volume increased 6.81% from $86.9 million in September to $92.8 million last month. Property values increased a tick from $145.72 per square foot in September to $146.42 in October. Despite the increase in sales volume, office deals were down 6.82%.
Industrial and land
Industrial sales volume declined 13.1% to $49.5 million in October from $57 million in September. The price per square foot dipped slightly from $66.25 in September to $65.28 last month. Deal velocity decreased by 6.74%.
Sales increased by nearly 8% in the land sector. The sales volume totaled $38.7 million in October, compared to $35.8 million the previous month. The cost per square foot rose 33% last month to $9.50 compared to $7.14 at the end of September. Deal velocity dropped 2.33%.
