Below are a few graphs that track some key factors affecting the Jackson County, Missouri industrial sale market. Data provided by The CoStar Group.
You can see above that total available listings FOR SALE have climbed steadily from around 100-150 listings in 2005, and are now hovering around 285 listings currently. Yikes.
Jackson County industrial sale transactions have struggled in recent quarters, averaging only 10-11 sales transactions per quarter. Doing some quick math tells us that if sales transactions remain stable at that rate, there is currently have about SEVEN YEARS of inventory currently on the market.
Digging a little deeper into the data, we can see that the average Time To Sale in Jackson County - meaning the difference between the closing date and the original listing date - has also been increasing over the past few quarters. Back in 2005 industrial business owners could expect on average that it would take 200 days (roughly 6 months) to close on a new listing. But NOW, much to the frustration of building owners and brokers alike, the average gestation period for industrial buildings has grown to around 400 days (just over 1 year).
The good news is that property owners who develop relationships with strong, quality brokerage firms will almost always outperform the market. We have found this to be true with our clients, and we are always looking for more opportunities to help owners with their real estate needs.
For more detailed market information or for a free analysis on your property, contact Russ Pearson or Nathan Anderson with Harbinger Property Group at 913.890.2000.
