With the end of the COVID-19 pandemic (potentially) in sight, CRE activity is bouncing back, according to a new report from Crexi. 

The first quarter of 2021 "represented a turning point both for the US and the economic disruption the coronavirus caused," the report, which outlines key national CRE trends over Q1, states. "While maintaining caution and taking the crisis seriously, the world of commercial real estate managed to steer away from the worst-case scenario and is now poised to capitalize on opportunities both in burgeoning sectors and those most impacted by the pandemic."

Data from Crexi's internal marketplace over the first quarter showed that nationally, the average asking price per square foot increased 5.6% from Q4 2020. This number was impacted somewhat by pricing bottoming out in February, when average asking prices were down 6.69% over the month prior, but was tempered by climbing prices in March across asset classes.