2020 Q2 Mid-Quarter Update

Commercial Sales: Buyers in quarantine

Halfway through the second quarter, South Coast commercial sales activity has been well below normal levels, as predicted. The economic slowdown resulting from the coronavirus has largely put buyers on hold. It is interesting to note, however, that January was the slowest month of the year to date, which can’t be blamed on the pandemic. There were five sales totaling $6.3 million in April. All were smaller sales, under $2 million, and all were in Santa Barbara. Two of the sales were owner-user purchases. There are no commercial sales reported so far in May (as of May 15), though there are a few properties under contract. Read full report here.