Altus Group Releases Q4 2025 U.S. Investment & Transactions Quarterly Report

Cumulative properties transacted in 2025 totalled 176,445 across the United States, up 0.6% from 2024 and marking the first annual increase since 2021. Total transaction volume reached $560.2 billion, a 14.4% year-over-year gain and the second consecutive annual increase.

“With nearly 46,500 properties trading hands this past quarter, we’re seeing improved growth rates, with a 3.9% rise over Q3 and 2.2% rise over the same period in 2024,” said Cole Perry, Associate Director of Research at Altus Group. “If we look at 2025 as a whole, the four major property types recorded positive year-over-year price growth in every quarter for the first time since 2022.” 

Altus Group’s transaction data analysis stands out from other industry reports by covering a broader range of transaction activity and segmenting the data at a very granular level. This quarterly report offers a comprehensive overview of national commercial sale transactions across major property sectors, focusing on transaction volume, pricing, and pacing, with further insights by property subtype and at the metropolitan statistical area (MSA) level.  While other reports tend to focus on large transactions, this report takes a broader view of the market capturing single-asset transactions exceeding $100,000 in sale value.     

To access the full Q4 2025 U.S. Investment & Transactions Quarterly Report, please click here.

*Note: Property- and transaction-level data are sourced from Altus Group’s Reonomy dataset, which connects both public and private property data sources. In some cases, the authors applied estimates or adjustments to account for lagged reporting effects. The Q4 2025 data in the report should be interpreted as preliminary figures, which may be revised in future editions of the report as prior transactions are recorded or estimation methods are adjusted for accuracy.