Commercial property sales across greater Los Angeles have reached a significant downturn, highlighted by an 18.4% decrease in sales since January, reflecting a stark contrast to the previous year's figures.
In the Los Angeles city market, the decline in commercial deals is particularly severe, nearly hitting 40% year-over-year, with a staggering drop of $1.9 billion compared to last year.
NAI Capital attributes the steep drop in sales to various factors including falling property values, inflation, elevated interest rates from the Federal Reserve, and increased government transaction fees.
While office sales plummeted by 55.4% year-to-date across Los Angeles County, the median sale price per square foot actually rose by 9.2%, signaling potential market adjustments.
Collection
[
|
...
]