T
he East Baton Rouge commercial real estate market saw a significant surge in sales volume for the third consecutive month in May, according to Elifin Realty's latest data. Sales jumped 25.7% last month, with the trailing 12-month total dollar sales volume reaching $542.7 million, up from $431.6 million at the end of April.

    Year-to-date sales volume reached $295 million through May, the area's second-highest mark in the first five months over the past seven years. Retail sales increased by less than 1%, with a 12-month total dollar volume of $95.2 million and year-to-date sales totaling $39 million.

    Deal velocity rose 5% in retail, while the average trailing 12-month price per square foot dipped 1.9%. Office sales volume decreased by less than 1% to $99 million, but deal velocity increased by 2.17%, with property values rising from $145.24 to $146.92.

    The multifamily sector saw a 12.7% increase in sales volume, with a trailing 12-month figure of $87.7 million and year-to-date sales totaling $53 million. Deal velocity dipped nearly 4%, while property values decreased from $72,100 per unit to $68,200 per unit.

    Industrial sales volume declined by 1.76%, but the price per square foot increased slightly to $68.18. The land sector experienced increases in sales volume and deal velocity, with a dip in property values. Sales totaled $45.8 million last month, while year-to-date sales reached $25 million, up from last year's $18 million.