Otimo Properties

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Don't forget you get an extra hour to buy real estate this weekend!

HAPPY HALLOWEEN, EVERYONE!

Louisville Metro Multifamily Trends for August Inventory of Multifamily properties listed for Sale on KCREA declined in August. Reported Sales of Multifamily properties in August was half those reported in July. Comparing to August of 2023, the inventory of multifamily offered for sale has increased by nearly 50% while sales in August of 2024 are less than a third of August 2023 sales, in terms of the number of transactions. At August 2024 activity levels, this amounts to a 30 month supply of multifamily properties for sale, which at least for August indicates one of the poorest performing commercial real estate sectors. I advise caution in reading too much into this. One month does not make a trend. But I would say you should take note. #CommercialRealEstate #RealEstate #CommercialRealEstateTrends #MultifamilyTrends #Multifamily #LouisvilleKY #Economy #CommercialBroker #OtimoProperties.

Louisville Metro Commercial LAND Trends for August KCREA reported activity for Commercial Land remained even. There were 6 reported land sales and zero reported land leases. The number of properties listed for Sale declined by close to 10% while the number of properties listed for Lease increased by more than 5%. At August activity levels this equates to a 30.5 month supply of properties for Sale. Since there were no Land leases, the figure for Leasing is not meaningful. Land has recovered somewhat since the second quarter in terms of Sales and it appears that asking prices for Land are increasing. However, there has only been 1 reported Land Lease all year in Jefferson Co. While I have no hard data to back this up, my best guess is that this is largely reflective of the woes of the restaurant industry. Many of the properties for lease are often used by restaurants and QSR type businesses. As we enter the last quarter of the year, expect Land sales activity to decline. Developers will largely want to wait to close until Spring when the construction season starts. #CommercialRealEstate #RealEstate #CommercialLand #Land #CommercialRealEstateTrends #LandTrends #Economy #LouisvilleKY #CommercialBroker #OtimoProperties

Louisville Metro RETAIL Trends for August - Reported activity for Retail Property by KCREA was relatively stable from July to August. Inventory levels for both properties for Sale and for Lease did not change much. Reported Sales was also stable although Reported Leasing was down a bit. At August activity levels and current inventory, this would amount to approximately 22 months of properties for sale and about 49 months of properties for lease. I am expecting overall activity in Commercial Real Estate to slow and take a "pause" as people try to anticipate how the upcoming election may affect business. For retail properties, we are entering into the time of year that is normally quiet anyway. So that is probably especially true in the retail sector. #CommercialRealEstate #RealEstate #RetailTrends #CommercialRealEstateTrends #LouisvilleKY #CommercialBroker #Retail #OtimoProperties

Is a real estate crash coming? https://lnkd.in/gUgVbYZe #CommercialRealEstate #RealEstate #MarketCrash #Economy #CommercialBroker #OtimoProperties

Metro Louisville Industrial Real Estate Trends - August Industrial activity rebounded a bit from the slump it has been experiencing this year. Inventories as reported by KCREA for both properties listed for Sale and for Lease declined significantly from July. Reported Sales in August increased quite a bit, and Leasing increased slightly. At August activity levels, there is a 9.8 month supply of Properties available for Sale and a 15.7 month supply of Properties available for Lease. As we approach the upcoming Presidential election, I suspect activity in all sectors will slow as business owners and investors take a pause in order to have a better understanding of what to expect following the election. #CommercialRealEstate #RealEstate #CommercialRealEstateTrends #IndustrialTrends #Industrial #Economy #CommercialBroker #OtimoProperties