The Ascension Parish commercial real estate market kicked off 2025 with an increase in sales volume but a dip in deal velocity, according to Elifin Realty’s first market report for Ascension.
Sales increased by 2.21% in January. The trailing 12-month total dollar sales volume was $144.6 million in January compared to $141.5 million at the end of December. Deal velocity declined 5.32%.
The sales volume at the end of January totaled $18 million, $3 million more than sales at the end of January 2024.
The report tracked the retail, industrial, office, and land sectors. Last month, there were no multifamily deals.
Retail
Retail experienced the most significant decline in sales volume and property values last month. Dollar volume dropped nearly 30% to $9.5 million in January from $13.5 million the previous month. The price per square foot declined almost 12% from $234.31 in December to $206.62 last month. Deal velocity remained steady.
Office
Office sales rose slightly over 6% from $4.8 million in December to $5.1 million in January. Property values increased from $143.69 to close 2024 to $147.67 last month. Deal velocity increased 10%.
Industrial
Industrial sales volume increased by 19.66%. The trailing 12-month total dollar sales volume was $47.4 million at the end of last month compared to $39.6 million in December.
The price per square foot increased 10.32% from $118.88 in December to $131.15 last month. Deal velocity dipped roughly 17%.
Land
The land sector experienced a dip in all three areas. The sales volume declined less than 3% from $32.6 million in December to $31.7 million the following month. The cost per square foot dropped slightly from $3.51 to $3.23 in January. Deal velocity decreased by 3.13%
