CBA'S RESEARCHED SALES COMMERCIAL PROPERTY SALES QUARTERLY REPORT Q1 (2022 vs. 2021)
May 19, 2022
Washington’s commercial property sales market began showing some signs of slowing, as Q1 2022 sales numbers were the lowest since earlier in 2021. Compared with the first quarter going back to 2019, however, transactions and sales volumes exceeded prior years.
Summary Highlights:
- Q1 2022 had a strong performance, but signs of a slowdown in sales are emerging.
- King County made up the bulk of activity for the quarter with 44% of the transactions and 77% of the sales volume, with 9 properties selling more than $100 million.
- King, Spokane, and Thurston County sales volumes more than double over the same period in 2021.
- As interest rates begin rising from historic lows in April 2022, the impact they will have on sales is just beginning to materialize.
- Higher interest rates — coupled with inflation, a stock-market correction in tech, the war in Ukraine, and other economic headwinds — likely mean the market is in for a bumpy ride the rest of the year.
Click below to read the full research report.
