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.