Last month, Oak City CRE (Commercial Real Estate) asked a group of Raleigh brokers to share their guesses about where the Raleigh market is going to be in 3Q 2023. 24 brokers responded. That survey resulted in the first Raleigh CRE Crystal Ball Report. This unique report is meant to try and look into the future.
The brokers project a tenant market for leasing activity and a buyer market for asset sales in 3Q 2023. For the leasing market, the report predicts that office will be a strong tenant market and industrial will be a strong landlord market. For the asset sales market, the data shows that office will be a strong buyer market and industrial will be a strong seller market.
The report also includes a Leader Board that ranks brokerage firms by the number of qualified submissions they send in for the survey. York Properties tied for 5th place.
Oak City CRE is an online platform created by Jed Byrne to connect and identify any projects he creates related to Raleigh and North Carolina. In addition to a blog, A/E/C job board, and upcoming events page, Oak City CRE offers the Top Five, a weekly real estate newsletter focused on development in Raleigh that curates a list of the top five pieces of CRE content that Jed finds. Jed also runs the DirtNC Podcast, where he talks about the “places and spaces of North Carolina and the people who make them awesome.”
Read the full report here: 3Q2023 Crystal Ball Report Final.
