In the six years from 2009 to 2014, closed commercial land and developed commercial property transactions have steadily increased. Starting off in January 2009 at barely a 500 transaction per year pace, in 2014 transactions fairly steadily hovered around 1,700 per year.
Miami-Dade Commercial Sales Volume 2010 to 2014 Chart Courtesy of Costar
This growth in unit sales is significant, but it was slightly dwarfed by the growth in volume in the past 5 years, with volume nearly quadrupling from about $2 billion to nearly $8 billion. Some of this may be explained by slightly different data sets, as the transaction data is from the Miami Realtor’s Association MLS system while the sales volume data is from Costar. Likely most of the difference, however, lies in the average transaction size going up, both from increasingly higher prices (view property trend charts) in the area and a higher prevalence of larger transactions.