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October 19, 2020
Source: Patrick Carlisle.

The inventory of active listings is up, and the number of sales and the percentage of listings selling are well down since the pandemic struck. Values and value metrics - median sales prices, average dollar per square foot, average cap rate and GRM - remain relatively stable. Unemployment and the "work from anywhere" phenomenon have caused vacancy rates to surge and rent rates to plunge. Tenant-landlord and property showing regulations continue to be extremely restrictive. It is undoubtedly a challenging market, but deals continue to be made. 

 

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