August 12, 2020
The latest CMA Sales Report from Commercial Brokers Association (CBA) shows sales activity in Seattle deteriorated quickly in Q2 2020. Transaction counts in April 2020 dropped 57.9% from 2019 to 2020 and dollar volume was down 76.8%. May showed the biggest drop in transactions year-to-date, as numbers were down 69.3% compared to May 2019.
CBA notes, May 2020 dollar volume received a slight boost from two key deals, Waterscape Juanita Village in Kirkland and Everett 4 Corners Plaza, but the decline was still 62.8%. June 2020 transactions fared better than April or May, showing a drop of 48.5% compared to June 2019. However, sales dollar volume experienced the biggest slide of the year, showing an 81.8% decline compared to June 2019.
Year-to-date, the multifamily sector experienced the biggest drop in sales volume at -80.2%, trailed by the office category at -78.1%. While comparatively less impacted were retail, which reported a -31.9% drop, land was down -30.4%, and industrial was off -41.2%.
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