Changes in the commercial market?

Nine commercial properties totaling almost $2.7 million were sold in Dane County in December. That's almost 3 times the sold dollar amount from the 3 previous months combined. (All numbers come from the South Central Wisconsin MLS).

However, commercial sales in 2009 ended the year at just over $13 million. That's the lowest sales total of the decade.



Let's hope we see more encouraging months like the month of December in the near future. There is reason to believe so, as Dane County foreclosures decreased for the first time in 34 months in January (more on these numbers coming soon).

For more on the latest commercial real estate trends, you can check out our commercial real estate update on the economic trends page at DaneCountyMarket.com .

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Listing success rates say a lot about the Dane County commercial real estate market

Listing success rates for the Dane County Commercial market were at or above 24% during the first 6 years of the decade. Success rates then decreased over the next 3 years and ended at 14% in the year 2008.

That trend continued in 2009. As of November 30th, the listing success rate over the prior 12 months was 6.8%.

Comparing the success rate to the success rates from other forms of Dane County real estate puts the commercial market in perspective.

* commercial success rate = 6.8%
* multifamily success rate = 19.8%
* condo success rate = 38.3%
* single family home success rate = 57%

For more on the latest commercial real estate trends, you can check out our commercial real estate update on the economic trends page at DaneCountyMarket.com .

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Dane County commercial real estate sales still decreasing

While sales for Dane County homes and condos have been on the rise due to the homebuyer tax credit, commercial real estate sales in Dane County have fallen dramatically.

Just over $10.1 million in commercial real estate sold via the MLS during the 12 month period that ended on October 31st, compared to $28.1 million from the previous 12 months. That's a decrease of 64%.



Most recently, zero sales occurred via the MLS in September. Two sales totaling $205,000 occurred during the month of October.

For more on the latest commercial real estate trends, visit our commercial real estate update on the economic trends page at DaneCountyMarket.com .

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

Dane County commercial inventory is up to 127 months

As of August 31st, the inventory of Dane County commercial real estate listed on the South Central Wisconsin MLS rose to 127 months.

Commercial sales have been light during the last 12 months, while expired listings have gone up.

For more on the latest commercial real estate trends, visit our commercial real estate update on the economic trends page at DaneCountyMarket.com .

Dan Miller, Realtor, Certified Distressed Property Expert, Keller Williams Realty and DaneCountyMarket.com

The latest in commercial real estate

It's been a few months since we covered the Dane County commercial market.

Sales via the South Central Wisconsin MLS have been light, with one property selling in the month of May for $168,000. Meanwhile inventory continues to trend at over 100 months.

Have a good day,

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Dane County commercial real estate - the year in review

Demand for 2008 commercial real estate was consistent with many other years this decade, but supply continued to increase. In 2008, over $167M in Dane County commercial real estate ended up expiring on the South Central Wisconsin MLS.


Here's our full report on the local commercial real estate market. We update it each month on the economic trends page at DaneCountyMarket.com.

Dan Miller, Keller Williams Realty and DaneCountyMarket.com

Dane County commercial inventory stands at 52 months

Our November 30th analysis of South Central Wisconsin MLS data shows inventory for Dane County commercial real estate stood at 52.3 months, or 4.4 years.

For our full report on the commercial real estate market, check out the economic trends page at DaneCountyMarket.com.

Note: Since our last report, we've adjusted how we report on the commercial market in order to better capture all of the MLS transactions. If you have any questions, feel free to call me at 852-7071 or email me at danielmiller@kw.com. Have a good weekend.

The Dane County commercial real estate market is changing with the times, too

As in the residential market, inventory is high in the commercial market, too. Dane County commercial inventory (excluding lease only listings) currently stands at 68 months.

Meanwhile commercial sales have been slowing in recent months, while commercial listings have been expiring more frequently. Sales were down by more than 17% over the last 12 months compared to the previous 12 month period. Expireds were up by 5%.

The trends toward fewer sales and more expired listings are clearer when we look at what has happened over the past several years. Only $20.4 million in commercial real estate sold in 2007 after $51.6 million sold in 2005. A total of $128.3 million in commercial real estate expired in 2007, up from $73.5 million in 2005.

In other words for every $1 million in commercial real estate that sells, another $6 million in real estate expires. This is tough news for some, but for others the imbalance of supply of demand could one day lead to a great deal that helps to grow a business.

For our full report on the commercial real estate market, check out the economic trends page at DaneCountyMarket.com. And stay tuned for our upcoming reports on the "lease only" commercial market as well as the residential income real estate market.

A lot of commercial inventory on the market

The economic slowdown is affecting the commercial real estate market, too.

Drive east along Odana Road from West Towne to Whitney way and you'll see 20 different signs that advertise real estate for sale or for lease. That's a lot for a short drive on the west side of Madison.

All of these signs have prompted us to see what we can learn about the commercial real estate market from data available through the South Central Wisconsin MLS. We've been able to learn a few interesting things, and we'll be ready to share our data soon. More to come...