CoStar released the CoStar Commercial Repeat Sale Index (CCRSI) reflecting that the CoStar National Composite Index of commercial real estate pricing rose for the seventh straight month. In November, the Index increased by 0.6%, with prices for commercial property an average 1.8% higher than compared with the same period a year ago.
Monthly CCRSI Results
CoStar's Composite Commercial Repeat Sales Index increased by 0.6% in November 2011. It is now 1.8% above the same period last year and 31.8% below its peak in August 2007.
CoStar's Investment Grade Repeat Sales Index increased by 2.2% in November 2011 and is now 6.4% above the same period last year and 29.2% below its peak in August 2007.
CoStar's General Grade Commercial Repeat Sales Index increased by 0.3% in November 2011 and is now 1.1% above the same period last year and 32.5% below its peak in August 2007.
"This modest-but-steady recovery largely reflected the impact of improving market fundamentals, which have continued to attract investors and buyers despite a lending environment for smaller properties that has remained constricted," according to the CoStar report.
The CoStar indices are constructed using a repeat sales methodology that measures the movement in the prices of commercial properties by collecting data on actual transaction prices. The CCRSI tracks sale pair transaction data through Nov. 30.
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