Comparing the most popular comp views from today versus this time last year, we have noticed some interesting changes. The number of Land/Agriculture comps viewed increased by over 36% comparing July 2011 to July 2010. The number of Industrial comps viewed increased by over 29% while the number of Retail, Multi-family and Office comps viewed had a moderate drop.
Here’s the breakdown from a week ago.
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It does seem reflective of the market. Currently residential property is an unstable investment, so it makes sense that those hoping to invest in real estate would lean toward more solid ground in the industrial, commercial and agricultural markets.
Land prices are down more than some other property types. Agriculture land has started to increase in price due to the higher prices of corn and other commodities that are grown on that ground. As the manufacturing market and retail market start to improve, these land values should start to go up too. Multi family development has always been strong and demand has remained consistent for this type of land.
Brad Kitchen
Alterra Real Estate Advisors
http://www.AlterraRE.com
Love your articles. They help keep me informed. http://clarkcommercialrealestatemaryland.com/
Yes I do feel so. Retail will always be the winner. But I hope the multifamily business can raise it percentage.
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