Summary of CoStar Group’s CCRSI (Commercial Repeat Sale Indices):

Commercial real estate pricing trends through March 2025 were mixed across property types and regions. The value-weighted U.S. Composite Index rose 0.7% month-over-month and 3.6% year-over-year but remained 18% below its July 2022 peak. The equal-weighted U.S. Composite Index climbed 1.4% over the prior month and 1.5% year-over-year, slightly above its previous all-time high. Investment-grade properties saw a 2.4% price decline compared to last year, while general commercial properties gained 2%. Transaction volumes strengthened, with investment-grade sales increasing 17.9% compared to March 2024.

Regionally, price movements varied. In the West, multifamily prices fell 6.1% year-over-year, while Northeast industrial prices rose 12.1%. Retail prices mostly increased across regions, while office property prices showed resilience in some markets despite sharp declines from previous highs. Distressed sales remained relatively low at 3.4% of repeat sales. Industrial and multifamily sectors showed the most notable mixed trends, with land prices notably jumping 4.5% in the first quarter.