Commercial Market Performance

TerryD — Wed, 28 Mar 2007 19:53:00 GMT

As is often the case about this time of year, people are taking stock in market performance and projecting into the fast approaching new year. Recently I was asked specifically about the office/retail component of our local real estate market. For the purposes of this exercise, I compared sale offerings up to 5,000 square feet in Jackson County for the same period in 2005 versus 2006 as reported through Southern Oregon Multiple Listing Service (SOMLS). The polling showed 20 sales in 2005, for a median price of $475,000 and average cost per square foot of $204.75. The year-to-date numbers for 2006 indicate 37 sales, for a median price of $480,000 and an average cost per square foot of $226.00. Although not all commercial real estate sales activity occurs within the reporting domain if SOMLS, I think it does signify an overall trend in market activity. That being on of stable strength and overall general growth.