{"id":9096,"date":"2016-07-11T13:45:55","date_gmt":"2016-07-11T17:45:55","guid":{"rendered":"http:\/\/www.beverly-hanks.com\/blog\/?p=9096"},"modified":"2024-12-11T09:46:08","modified_gmt":"2024-12-11T14:46:08","slug":"2016-q2-market-report-summary-commercial","status":"publish","type":"post","link":"https:\/\/www.naibeverly-hanks.com\/blog\/2016-q2-market-report-summary-commercial\/","title":{"rendered":"Beverly-Hanks Q2 2016 Market Report: Booming Residential but Slowing Commercial Markets"},"content":{"rendered":"<p>Beverly-Hanks\u2019 president, Neal Hanks, was on site at the <a href=\"http:\/\/reachofhaywood.org\/\" target=\"_blank\" rel=\"noopener\">Within REACH Resale Shop in Waynesville<\/a> to deliver the 2016 Quarter Two Market Report. <a href=\"http:\/\/www.beverly-hanks.tv?wm_video_id=g7527de5585oif\" target=\"_blank\" rel=\"noopener\">Watch the video<\/a> below to see his short report, or continue reading for more information.<br \/>\n<iframe loading=\"lazy\" id=\"player\" src=\"http:\/\/www.wellcomemat.com\/embed\/g7527de5585oif\" width=\"640\" height=\"360\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2>2016 Quarter Two Residential Activity:<\/h2>\n<p>Overall, our housing markets remain active. Sales pace is at an all-time high, home supply continues to shrink, and price appreciation continues to increase at historical rates. Year to date, the number of homes sold this quarter increased by 9%, establishing a new high-water mark for the most homes ever sold in a single quarter.<br \/>\nThe supply of homes for sale dropped by 17% since 2015 and is now at half of 2011 levels. The small number of homes for sale, in most markets, continues to drive market activity in many communities. Both Buncombe and Henderson Counties are going to see the most change.<br \/>\nBecause of the strong market, the <a href=\"http:\/\/www.fhfa.gov\/DataTools\/Tools\/Pages\/HPI-Calculator.aspx\" target=\"_blank\" rel=\"noopener\">Federal Finance Housing Agency reported<\/a> that Asheville MSA&#8217;s home prices appreciated 6.78% over the last 12 months. As home prices trend up and the supply of homes remains low, homes located in outlying communities are likely to provide more value and opportunities for home buyers.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9090\" src=\"http:\/\/www.beverly-hanks.com\/blog\/wp-content\/uploads\/2016\/07\/q2-2016-sales-pace.png\" alt=\"Sales pace graph for homes in WNC, Q2 2016.\" width=\"450\" height=\"252\" \/><\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.beverly-hanks.com\/blog\/2016-q2-market-report-summary\/\">Read more about Q2 2016 residential activity.<\/a><\/p>\n<h2>2016 Quarter Two Commercial Activity:<\/h2>\n<p>It\u2019s time to tighten that belt buckle. During the first half of 2016, the commercial real estate market encountered a headwind compared to last year. Britain\u2019s vote to leave the European Union (inspiring other countries to contemplate a similar move), coupled with our impending election are creating a lot of economic uncertainty, even in WNC.<br \/>\nLeasing activity remains high and will continue to be healthy for the balance of the year. Occupancy and rent rates are up, while the number of lease transactions remains constant. Average base rent on office properties is $15.65 per square foot, and the average triple net rate for retail and industrial space is $14.01 per foot and $4.40 per foot, respectively.<br \/>\nOn the sales side, Q2 2016 saw the fewest number of transactions in a quarter since Q2 2014. Despite fewer sales, the median price per foot rose in all categories except for retail ($94.50 per foot). The median sales price for office property jumped 20% to $159 per foot while the average price per foot for industrial properties rose to $56.<br \/>\n<em>All real estate is local. In order to make confident real estate decisions, we believe it important for you to have timely and neighborhood-specific information. For more information about your real estate market, ask your Beverly-Hanks associate or\u00a0<a href=\"http:\/\/www.naibeverly-hanks.com\/market-research-center\" target=\"_blank\" rel=\"noopener\">click here<\/a>.<\/em><br \/>\n&nbsp;<br \/>\n<span style=\"border-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font: bold 11px\/20px 'Helvetica Neue',Helvetica,sans-serif; color: #ffffff; background: #bd081c no-repeat scroll 3px 50% \/ 14px 14px; position: absolute; opacity: 0.85; z-index: 8675309; display: none; cursor: pointer; top: 317px; left: 189px;\">Save<\/span><br \/>\n<span style=\"border-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font: bold 11px\/20px 'Helvetica Neue',Helvetica,sans-serif; color: #ffffff; background: #bd081c no-repeat scroll 3px 50% \/ 14px 14px; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer;\">Save<\/span><br \/>\n<span style=\"border-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font: bold 11px\/20px 'Helvetica Neue',Helvetica,sans-serif; color: #ffffff; background: #bd081c  no-repeat scroll 3px 50% \/ 14px 14px; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer;\">Save<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beverly-Hanks\u2019 president, Neal Hanks, was on site at the Within REACH Resale Shop in Waynesville to deliver the 2016 Quarter Two Market Report. Watch the video below to see his short report, or continue reading for more information. 2016 Quarter Two Residential Activity: Overall, our housing markets remain active. Sales pace is at an all-time&#8230;  <a class=\"excerpt-read-more\" href=\"https:\/\/www.naibeverly-hanks.com\/blog\/2016-q2-market-report-summary-commercial\/\" title=\"Read Beverly-Hanks Q2 2016 Market Report: Booming Residential but Slowing Commercial Markets\">Read more &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":9090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[159],"tags":[3,4,63,11],"class_list":["post-9096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-reports","tag-commercial","tag-commercial-real-estate","tag-quarterly-market-report","tag-wnc-real-estate"],"acf":[],"featured_image":null,"_links":{"self":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/posts\/9096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/comments?post=9096"}],"version-history":[{"count":1,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/posts\/9096\/revisions"}],"predecessor-version":[{"id":21027,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/posts\/9096\/revisions\/21027"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/media?parent=9096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/categories?post=9096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.naibeverly-hanks.com\/blog\/wp-json\/wp\/v2\/tags?post=9096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}