By: Andrew Vaupel
According to data submitted to the Kansas City Business Journal, 2018 was a down year for local commercial real estate offices. There are two statistics that tell the overall story better than I can.
That's the reduction in year-over-year local dollar volume of sales and lease transactions from 2017 to 2018. Among the 21 firms that reported dollar volume information in both years, 2018 was down about 8.6 percent compared with the prior year. Still, the market delivered $4.76 trillion in local sales and leases.
That's the decline in year-over-year transactions among the 25 firms that reported sales and lease transactions. Despite reporting 5,291 local transactions in 2018, the new figure is 4 percent lower than 2017.
The news wasn't all bad, as 10 of those 25 firms reported doing an average of 19.3 percent more transactions in 2018 than they did in 2017. However, six of the remaining firms reported that transactions fell 20 percent of more.
For those that reported dollar volume information in both years, three local CRE offices delivered banner years with growth of more than 50 percent.
Full List: https://www.bizjournals.com/kansascity/news/2019/03/22/kc-area-commercial-real-estate-market-analysis.html