The inventory of active listings is up, and the number of sales and the percentage of listings selling are well down since the pandemic struck. Values and value metrics – median sales prices, average dollar per square foot, average cap rate and GRM – remain relatively stable. Unemployment and the “work from anywhere” phenomenon have caused vacancy rates to surge and rent rates to plunge. Tenant-landlord and property showing regulations continue to be extremely restrictive. It is undoubtedly a challenging market, but deals continue to be made.

Median Sales Prices & Avg. Dollar per Square Foot

Supply & Demand 

Trends in Selected Value Metrics

Very small downward adjustments in YTD indicators – in fact, the changes are so small they are probably statistically irrelevant.

Sales Breakdowns by District & Price Segment 

Employment & Rent Rates 

New Housing Construction (All Types) 

Market Share by Broker