Jan. 21, 2007
Commercial sales off in 2006
When it comes to commercial real estate sales, 2006 ended on a bit of a down note, according to the latest data from the Cape Cod & Islands Association of Realtors.
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Details
By the numbers
Here's a quick rundown of commercial sales on the Cape and Islands in 2006.
- Current listings: 165
- Sales: 64
- Total sales value: $28.5 million
- Average sale price: $445,982
- Average days on market: 139
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In December, there were three commercial properties sold on the Cape and Islands, which was down 50 percent when compared with six sales in December 2005.
The total value of last month's commercial sales was $970,000, according to the Realtors' association, which tracks sales handled through the region's Multiple Listing Service. The average sale price was $323,333, down 17 percent when compared with $389,667 in December 2005.
For the year overall, commercial sales were off only about 19 percent.
A total of 64 commercial properties were sold in 2006, which was down from 79 in the previous year.
The tally for all the commercial properties sold last year came to $28.5 million, making the average sale price nearly $446,000, according to the Realtors' association.
In comparison, the total value of all commercial sales in 2005 came to $32.6 million and the average sale price was $413,322. The average sale price increased just about 8 percent in 2006.
Also on the rise in 2006, the number of commercial properties listed for sale.
As of December, there were 165 commercial properties actively being listed for sale, according to the Realtors' data. That's up 23 percent from 134 listings in 2005.
The properties that did move last year had been listed for sale an average of 139 days. That's up 4.5 percent from an average of 133 days on market in 2005.
- CAPE COD TIMES
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