It’s taking owners less time to sell their commercial buildings today. That’s one of the pieces of good news from the March CoStar Commercial Repeat Sale Indices.
CoStar’s research — which covers the month of January — shows that commercial properties during the first month of the year sat on the market for an average of 390 days beore finding a buyer. That’s down from an average of 417 days in January of 2013.
And when owners sell, they’re generally getting more money for their properies.
CoStar reported that in January owners earned sales prices that were on average 91.2 percent of their asking prices. That is up from a sales price-to-asking price ratio of 88.8 percent one year earlier.