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Q3 2024 - Published November 2024

US commercial real estate investment sales - property sectors

Overview


Sourced from the Q3 2024 US CRE Investment and Transaction Quarterly report, the following charts provide insights into transaction activity and pricing metrics across individual property sectors.

Price trends are illustrated using a rolling 90-day average of transacted price per square foot, with additional breakdowns by subsector. Insights into the scale of activity are provided through typical transaction size, represented by the average value and square footage of reported deals.

Additionally, average daily figures indicate the average count, dollar value, and square footage of transactions occurring on a given over a quarter, offering additional perspective on transaction volume and market velocity through time.

Metrics based on transaction volume leverage national aggregates, which are adjusted for typical data infill following the end of the reporting quarter. This adjustment enables a more accurate representation of activity, ensuring that the data captures a comprehensive view of transaction trends and sector-specific performance.

Key highlights


  • 10 of 15 subsectors saw quarter-over-quarter price growth on a per square foot basis, lead by mixed-use (+7.5%), manufacturing (+6.3%), automotive (+3.9%), and office (+3.8%).


  • The average count, dollar volume, and square footage of transactions on a given day during Q3 2024 sat at or below pandemic-era lows for all property types.


  • The average square footage of an individual transaction increased quarter-over-quarter for all property sectors in Q3 2024.


  • Year-over-year, the average square footage of an individual transaction fell for all sectors except hospitality (+8.0%) and office (+23.4%)


  • The average value of a transaction increased quarter-over-quarter for commercial general + mixed-use (+4.0%), multifamily (+7.9%), and office (+30.9%), while it fell for industrial (-1.2%), retail (-1.8%), and hospitality (-38.9%)


Metrics by property sector

Note: “Average daily” figures represent the typical amount transacted on a given day per quarter; Pricing represents the raw average of transacted price per square foot per quarter​.

Office
Retail
Industrial
Multifamily
Hospitality
Commercial general and mixed use
Pricing by subtype ($/SF)
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Source: Altus Group

Average transaction size ($)
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Source: Altus Group

Average transaction size (SF)
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Source: Altus Group

Pricing by subtype ($/SF)
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Source: Altus Group

Average transaction size ($)
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Source: Altus Group

Average transaction size (SF)
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Source: Altus Group

Pricing by subtype ($/SF)
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Source: Altus Group

Average transaction size ($)
Share
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Email

Source: Altus Group

Average transaction size (SF)
Share
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Send this by
Email

Source: Altus Group

Pricing by subtype ($/SF)
Share
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Send this by
Email

Source: Altus Group

Average transaction size ($)
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Source: Altus Group

Average transaction size (SF)
Download
Share
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Source: Altus Group

Pricing by subtype ($/SF)
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Email

Source: Altus Group

Average transaction size ($)
Share
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Send this by
Email

Source: Altus Group

Average transaction size (SF)
Share
Share this on
Send this by
Email

Source: Altus Group

Pricing by subtype ($/SF)
Share
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Send this by
Email

Source: Altus Group

Average transaction size ($)
Share
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Send this by
Email

Source: Altus Group

Average transaction size (SF)
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Source: Altus Group

Explore more commercial real estate transaction activity data

National activity

Learn more

Pricing and pacing

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Markets

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Q3 2024


US CRE Investment & Transactions Quarterly Report


Looking for the latest data on US commercial real estate transaction activity? This quarterly report is one of the industry’s earliest and most detailed insights into national and MSA-level transaction volumes, pricing, and property-sector trends.

About the authors

Cole Perry's Profile
Cole Perry

Associate Director of Research

Altus Group

Altus Research

CRE Exchange Podcast

Cole Perry is a Associate Director of Research with Altus Group's Research team. In this role, Cole delivers key insights into macroeconomics, capital markets, and the broader commercial real estate sector.

Cole boasts a rich background in Commercial Real Estate analytics with previous roles at CompStak and Brixmor Property Group. He holds dual M.S. degrees from Columbia University in Urban Planning and Real Estate Development.

Contact us
People - Omar Eltorai's Profile
Omar Eltorai

Research Director

Altus Group

Altus Research

CRE Exchange Podcast

Omar Eltorai is a Research Director at Altus Group. With more than a decade of experience in the industry in investment management and financing roles,

Omar's focus is on macro, capital and market trends affecting the US CRE market. Beyond regularly authoring articles and reports, his commentary and analysis has been featured in various media publications, including: Wall Street Journal, Globe Street, and Yahoo! Finance.

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