Core Insights - The U.S. commercial real estate market experienced a decline in transaction activity in Q1 2025, with total transactions valued at $69.3 billion, down from $89.2 billion in Q4 2024 and $85.5 billion in Q1 2024 [2] Transaction Activity Summary - The count of properties transacted decreased by 11.6% from Q4 2024 and by 8.0% year-over-year from Q1 2024 [2] - The total dollar value transacted fell by 22.3% sequentially and by 19.0% year-over-year [2] - Despite the overall subdued market, certain sectors showed resilience, with prices increasing and multifamily and office properties attracting more capital compared to the previous year [2] Price Trends - Twelve out of fifteen property subsectors reported quarter-over-quarter increases in price per square foot, particularly in consumer-facing categories such as big box retail, limited-service hotels, and full-service hotels [2] Data Analysis Approach - Altus Group's report provides a comprehensive overview of national commercial sale transactions, focusing on transaction volume, pricing, and pacing, with detailed insights by property subtype and metropolitan statistical area (MSA) [2]