County of Wake issued the following announcement on Feb. 17.
Wake County’s Very High-value Segment (real estate sales transactions worth $30 million and above) reached just over $734 million in January 2022. This is a $608 million decrease from December 2021’s Very-high value market amount. Apartment activity was still very active with four transactions out of seven in this segment. The other three were a mix of office buildings and natural preservation land. January 2022’s Very High-value segment transactions:
- Block 83, 1 Glenwood Avenue “Lot 1, Lot 2, North Retail Unit and South Retail Unit of Glenwood Office and Retail Land Condominium”, Raleigh, NC: $172 million.
- Glenwood Office and Retail Land Condominium “Office Unit”, Unit 2 “Garage Unit”, and “Unit 1 and Unit 2 Overlap”, Raleigh, NC: $158 million.
- New Site 5A Natural Area Preserve Allocation, Research Triangle Park, NC: $92 million.
- 401 Oberlin Rd Apartments, Raleigh, NC: $91 million.
- Arium Cary Park Apartments, Cary, NC: $73 million.
- Latitude Apartments, Raleigh, NC: $64 million.
The High-value segment, (transactions worth between $1 million to $30 million), marked 108 transactions totaling over $279 million, a loss of just over $711 million from December 2021.
Transactions in the Core Market (property valued at $1 million or less) saw 1,871 transactions totaling just over $777 million, down 32% from December 2021’s total of $1.14 billion.
Total sales value from all three segments equaled over $1.79 billion for January 2022, down 48% from December’s total sales of over $3.48 billion. 1,986 total sales occurred in January 2022 which is a 34% decrease in the number of sales compared to December 2021’s total sales of 3,034.
Original source can be found here.
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