Data and anecdotal experience are indicating an ease in buyer demand due to higher interest rates over the past 12 months. Some Cumberland County sellers are feeling "beat up" and swearing to not "fire sale" as they watch their sale price dip slightly below the peak of 2022. York County data also shows a leveling in the last year.
The fact is, values have more than doubled since Q3 of 2016. As we posed it to a client recently - if I said you could purchase your building for $325,000, cash flow it for 7 years and then sell it for twice what you paid, would you take that deal?
So, while the peak might be in the rearview mirror, sellers still have an opportunity to seize a market win right now. We'll keep watching the market and provide a 2023 recap in late January at the MEREDA Conference.
