2013 property sales rise 22% in the United States
If any more evidence were required that the real estate business is in the heavy metal phase of its expansion, Real Capital Analytics just supplied the proof.
RCA’s newly released 2013 sales data for commercial properties valued at $10 million or more shows a 21.6 percent increase in U.S. sales volume, with 2013 property sales exceeding 2012 sales by $53.5 billion. The cumulative price paid for U.S. commercial properties during 2013 was $301.9 billion, compared with $248.4 billion during 2012.
Spearheading the sales surge was New York City, which alone accounted for 12.8 percent of total North American dollar sales volume, with $42.3 billion in transactions. That represents an 18.6 percent increase over New York City’s 2012 sales of $35.7 billion. Some 912 properties changed hands in New York City during 2013 at an average sales price of $46.4 million, compared wit