Take a quick look back at our year with us. What a year 2021 was for the commercial division! Cheers to 2022 and all of the opportunities ahead for our agents and clients! We look forward to serving you throughout the year.
As we close out Q3 2021, activity in most of the major commercial real estate sectors remains elevated. Equal amounts of interest are being generated from both investors and occupiers alike. Three commercial real estate sectors in particular have outperformed the broader market since the outbreak, and continue to generate the most interest from investors and developers.
For all of the continued reporting that retail is dead and won’t ever come back to pre-COVID levels, or that all the tenants have gone away, it’s a wonderfully positive and inspiring contradiction we are experiencing in New Hampshire. It’s not just New Hampshire, either - we are seeing the same thing in many parts of New England and across the United States.
Our Monthly Market update is a week late (oops!) but the good news is that the stats about December haven't changed since last Monday! The commercial real estate market as a whole isn't expected to rebound fully for a good long while, but there are sectors that have been surviving - even thriving - through the last 10 months!
As we fall into a new month and COVID numbers continue to be on the rise in NH yet again, surprising amounts of leases were signed last month. Perhaps people are trying to get back to a sense of normalcy in the office, and perhaps people are down - or up - sizing their offices based on their needs. Whatever it might be, 39 lease transactions in a single month is something that hasn't been reported since February 2019.
The industrial market is kind of in a strange place right now. It is faring better than the majority of the commercial real estate sectors, which is certinaly a positive. It seems that perhaps the sudden increase in the amount of e-commerce and online ordering has helped the industrial sector find its footing again.
If you're wondering how the office market is faring 6 months after a national state of emergency was declared, look no further!
July showed some promising numbers when we took a look at our monthly report!
The number of lease transactions are (WAY) up from last month. On top of lease transactions being up, we also saw that leases were being signed at 107% of the asking lease rate which is good news for landlords!
The residential real estate business is booming right now, and this includes 1-4 unit multifamily properties as well as larger 5+ unit multifamilies. Single family homes have seen their heyday recently with little inventory and plenty of competition. While there have always been plenty of individuals looking to invest in multis, this number has recently increased, especially on smaller multifamily properties. With people being out of work due to layoffs and furloughs, many are going to look to offload their large mortgages and get into something more affordable.
One of the sectors of commercial real estate that seems to be surviving through this pandemic is the industrial sector, despite having to shut down for a period of time.
In June we saw:
• higher list-to-close ratios for sales AND leases
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