We are halfway through the first quarter of 2021 and are happy to already see signs of a recovery.
While the number of transactions is still down over the same period last year, in December we saw more volume, a higher max price, and a higher AVG $/SF YOY for the month.
In December 2020 a total of 19 transactions took place in the Hillsborough County/ Tampa area. The total transaction volume for DEC 2020 was $26,606,600, versus $23,285,400 in DEC of 2019, representing a +14.3% increase year-over-year in transaction volume.
Out of the 19 sales transactions, there were 15 professional offices and 4 medical office sales.
There was a small-scale increase in AVG $/SF for DEC 2020 to $186, from $185 in 2019 — exhibiting a slight +0.5% increase YOY.
In November 2020 a total of 16 transactions took place in the Hillsborough County/ Tampa area. The total transaction volume for NOV 2020 was $15,142,500 versus $27,861,800 in NOV 2019.
Out of the 16 sales transactions, there were 13 professional offices and 3 medical office sales.
The AVG $/SF for NOV 2020 was recorded at $216–a +15% YOY increase from $188/SF in 2019
The largest sales transaction value for the month of December was for a professional office property in Tampa, FL. The property sold for $49,538,400.
📌 610 E ZACK ST, TAMPA, FLORIDA, 33602. Property specs:
- Built-in 1976
- 233,697 SF | 1.01 Acres
- Price/SF $41
Wondering how much your property could sell for? To get the full details on all DEC 2020 sales in the Hillsborough County| Tampa area, including YOY analysis by download the Tampa Office Sales Comps & Report below, or reach out to me for more information on the local market!