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Crexi: Asking Prices on the Rise Again in March

The overall asking price per square foot for commercial properties climbed once again in March, following a February drop across the board, Crexi reported. The average asking price jumped 7.89%, with all asset classes showing growth except for multifamily.

Multifamily pricing dropped a slight 2.85% for new assets in March. However, the decrease potentially represents an approaching floor following the sharp drop in February’s multifamily prices.

Retail led the charge in pricing gains, with 10%-plus surge in asking price per square foot. Crexi said the increase mirrored the sector’s slow and steady recovery.

Along with a pricing surge, Crexi’s platform saw a 21.46% jump in total retail listings added for sale in March, led by a noticeable increase in both shopping centers and restaurants. The number of shopping centers available on Crexi rose 16.9% in March, indicating sellers’ needs to relinquish such assets.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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