Commercial property sellers appear to be gaining more bargaining power as average asking prices move up and inventory slows, according to a new report from CREXI that examines trends within its customer base.
Across all CRE types, the average asking price rose 4.7% in July, following a slow Q2. Simultaneously, CREXI's marketplace saw a slight decline in new assets available for sale in July and an 11.2% drop in inventory compared to June.
"Sellers who can wait out potential market shifts realize they can be patient for the right price and buyer, especially those possessing good real estate and solidly-proven asset classes," CREXI commented.
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