We took a look at some of the biggest markets for CRE in the country and compared several factors – from sales price to lot size, here is the low-down on some of the most active markets in the country:
We can see that the average mortgage value differs greatly. Texas markets are much higher in this regard. The commercial mortgage averages in Dallas and Houston are the largest of the cities measured.
Unsurprisingly, the median sold price standout market is in New York City. Notoriously high priced real estate, the market that follows is San Francisco. Other markets across the U.S. tend to sell at lower prices, but that certainly doesn’t mean less opportunity. Compare to the total number of sales below to see how the cities shake out.
Factoring in data and statistics from the past 24 months from our exclusive data sources, above is a breakdown of which markets are selling high. The highest markets are NYC, San Francisco and Los Angeles. All markets with consistent and strong market presence. Some of the more ‘growth’ markets like Houston tend to have a lower price per square foot. Also to consider when looking at market avg. price per sq foot is lot size, which we see Houston inversely is very high.
When looking at the total number of sales over one million for each of these markets, we see some markets with more sprawl take the lead. Los Angeles and Chicago are leading markets for some of the smaller value sales.
When shifting focus to the total number of commercial sales over 10 million in each market over the last 24 months, Chicago is still the largest market, though closely followed by New York City. While New York tends to have fewer small building sales, they also tend to be higher value.
As you can see, the total number of sales in Chicago, Houston and LA are huge, and understandably voluminous due to the number of smaller deals in those markets. New York and San Francisco total sales are low, but at a high price.
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