by Terry Brown
According to MLS data as of Dec 19, 2011 there were 17 Commercial/Business properties sold within Salida thus far in the past 12 months at a total value of $6,029,888. Average days on the market (DOM) was 191 days.
However, the same period from 2009-2010 there were only 10 such properties/businesses sold at a value of $3,692,000 with average DOM at a whopping 347 days! This is a 63% gain over the year before in sales volume, and 44% less DOM.
Commercial properties this year sold at 84% of asking price, vs 88% a year earlier.
There are currently 68 Commercial/Business properties for sale, and since the average monthly sales rate of this category is 1.42 sold each month, we have 48 months of such inventory - or FOUR years before everything will eventually sell (at the current absorption rate).
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