Investment Sales Recap of 2020 Activity — Brighter Outlook Forecast for 2021

The low point of investment sales in 2020 occurred during the second and third quarters as the coronavirus pandemic brought the economy to a halt. The total dollar volume generated over the year for properties selling for at least $10 million fell to $11.28 billion, representing a steep 61% and 80% decline over activity in 2019 and during the 2015 cyclical market peak respectively. Among the four major sectors, retail properties incurred the sharpest decline in generated dollar volume, followed close behind by land sales. In contrast, the multifamily market was the least-impacted sector, and office building sales activity fell somewhere in the middle of the high and low volumes. Looking ahead in 2021, property values are expected to continue a downward trend as volume starts to pick up.

Source:    https://commercialobserver.com/2021/02/manhattan-investment-sales-volumes-appear-to-be-climbing/