We've all been looking at each other in the commercial group lately, and remarking on how busy we are. What a change! It certainly means that people are out looking for space, particularly in sectors that are seeing more current activity, like restaurants and luxury goods.
What does that mean for sellers and buyers? If you are a seller, you are probably wondering whether you should hang on and wait for prices to rise. If you do, you will be competing with a lot of other people who've been waiting for the same thing, so you had better compare favorably. That means, if your property wouldn't sell if a better one like it were on the market, it would make more sense to list now, when there is less competition.
If you are a buyer, you are still in a buyer's market, so this is a great time. Don't wait too long, or prices will start to go up, and you will end up paying more.
Bottom line: I think we've passed the bottom.
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