News
Pre-Hancock Sale Market View
November 1, 2010
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| There were only 65 trades over $1M i n 2009 over, according to the CoStar Group. To no one?s surprise, this is below the 112 in 2008, which were well below the 320 in 2007. This year has shown some promise, though. Through the end of September, Boston has had 66 sales, which if prorated for the year would equate to 88, signifying a moderate recovery in trade volume. Properties are sitting on the market much longer as well. In 2007, the average office property was scooped up in just 4.5 months; this moved up to 6.6 months in 2008, and to 8.6 months last year. However, this number now stands at an incredibly long 14.5 months. For optimists, think of them like a fine wine. For realists, here's a tissue. |
