Is This Market Sustainable? - Summer 2004

This real estate market is truly incredible! Residential condominium sales from $400 to $800 per square foot are the norm rather than the exception, office buildings sell for over $275 per square foot, and industrial buildings sales surpassed $70 per square foot. Who would have anticipated this market and are prices going to continue to rise? Forecasting out  nine months, we can expect continued strength in the real estate market. We can also expect sales prices to continue to increase as demand remains strong, interest rates remain low and the economy remains solid. Thinking of selling your commercial real estate? Should you sell now or wait? No one can pick the top of the market, but if you are thinking of selling, this is the best time to be a seller.