Commercial Real Estate has several property types. Industrial properties are holding up much better than other property types in Denver. This video highlights many key details for Q2 2020.
There is no surprise that the retail property type in commercial real estate has been hit hard by COVID-19 but it is fairing better than office. The months of inventory has ballooned to 17.2 months, and we had a negative net absorption of (358K) sf in Q2. Check out this and other key market indicators.
Office is a major property type in commercial real estate, and we are facing some major headwinds in Denver. We have had a negative net absorption of nearly 1.3M square feet YTD.
Commercial Real Estate has several property types. Multi-family properties are holding up much better than Retail and Office in Denver. This video highlights many key details for Q2 2020.
Very interesting data for June. Showings and pending contracts are up. Active listings are down which is putting pressure on buyers because they have fewer options. Closings are equal with 2019.
The Denver Metro residential real estate market saw some very interesting changes in May. Showings have rebounded well from the COVID-19 shutdown in March and April. The active listings are down from this time last year but not by much. The pending (under contract) properties are up 117.7% compared to last month. Closings are down 43.7% compared to this time last year. We expected a sharp decline in closings because showings and contracts were down in April. The typical real estate transaction takes 30 to 35 days from the initial contract to a closing. We fully expect a big jump in June closings. The volume could easily be between 5,500 and 6,500 properties. All in all, the resale markets are showing some good resilience!
Here is a look at the Denver Metro Commercial Real estate market. Specifically, focused on the retail segment for Q1 2020.
Here is an interesting look at the multi-family segment of commercial real estate in the Denver Metro market in Q1 of 2020.
Here is a look at the Denver Metro Commercial Real Estate Industrial Market for Q1 2020. This sector appears to be weathering Covid-19 better than other segments.
Here is a Denver Real Estate Market Update for March 2020 by Beacon Real Estate Services. It is interesting to see the affect of Covid-19 on the real estate market. We are very interested to see what happens in April!