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Investment Grade Properties Post Largest Year Over Year Gain Since 2006

WASHINGTON, March 9, 2011 (GLOBE NEWSWIRE) --
  • CoStar's Investment Grade Index is up 10.6% versus the same period last year, even after starting 2011 on a slight decline, decreasing 1.1% for the first month of 2011.
  • The Investment Grade pair count is up 54% over the year-ago level, a substantial increase.
  • The increase in Investment Grade repeat sales transactions reflects trends in the broader market. CoStar tracked more than $211 billion in total sale transactions in 2010. This is a 79% increase over 2009 sales volume for all sales. While the market is clearly recovering, sales transaction volume still remains 63% below the market's recent peak volume level.
  • CoStar's General Grade Index is down 11.3% versus the same period last year. It did however start 2011 on a slight up-note, increasing 0.4% for the first month of 2011. After being down for the past three months at 2.4% and down 11.3% for the past year, it seems the smaller property index may be seeing the specter of bottom for the first time in the past three years.
  • The General Grade pair count is down 1% over the year-ago level. Pair counts will likely increase slightly as additional closings are recorded.
  • The Composite Index, which is an equal weighted analysis of both the Investment Grade and General Grade indices and a reflection of the broad overall market, was flat the first month of 2011, down 2.6% for the past three months and down 6.6% for the past 12 months. In the Northeast, average pricing for Multifamily is up strongly with Industrial and Office pricing stabilizing.

The CoStar Commercial Repeat-Sale Indices (CCRSI) are the most comprehensive and accurate measures of commercial real estate prices in the United States. In addition to the national composite index, there are a total of 32 sub-indices in the CoStar index family. The sub-indices include breakdowns by property sector (office, industrial, retail, multifamily and land), by region of the country (Northeast, South, Midwest, West), by transaction size and quality (general commercial, investment grade), and by market size (composite index of the 10 largest metropolitan areas in the country). The CoStar national composite index is produced on a monthly basis.

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