D.C. Leads U.S. In Real Estate Recovery

Washington in 2010 remained the leader among major U.S. markets in commercial real estate pricing recovery, posting a 5 percent increase in the fourth quarter. Commercial property pricing in the area has gained 15 percent for the year and 19 percent since its market low.

Here is a snapshot of what CoStar Group observed across the country:

– After three consecutive quarters of pricing increases, commercial property pricing in New York declined 2 percent in the fourth quarter. New York commercial property pricing has increased 6 percent above its market low.

Chicago, San Francisco and Atlanta all experienced declines in pricing as the commercial property values in those markets continue to search for a pricing bottom. Los Angeles had its first pricing increase in the fourth quarter, albeit 1 percent, the first rise in that market since the first quarter of 2008.

By property type, pricing for commercial property sales in the top 10 largest markets is recovering much more strongly than the general market, with the exception of retail.

In the West, all property types are down in recent quarters, except for retail, which is stabilizing. In the South, only multifamily pricing is up significantly. In the Midwest, all property types are down, especially office. In the Northeast, average pricing for multifamily is up strongly, with industrial and office pricing stabilizing.

Article from the Washington Post

M. Germaine Parra
Realtor, Feng Shui Consultant
Licensed in DC, MD and VA
Long and Foster Realtors
6862 Elm Street Office, McLean, VA  22101
Office:703-873-3500
Fax:   703-873-1901
Cell:  703.650.8838
www.germaineparra.com

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