At the local level, Baltimore led all markets in Q2 growth (minimum 25 transactions), more than doubling the number of sales reported compared to the same time last year. Other areas that experienced an increased number of transactions include Portland (up 71%), Seattle (up 35%), Austin (up 32%) and Dallas (up 31%).
Tampa transactions decreased the most among qualifying markets, declining 34% year over year. Other major metros experiencing a notable decline include Washington D.C. (down 32%), Atlanta (down 29%), San Francisco (down 26%), Boston (down 19%), New York (down 18%) and Chicago (down 11%).
Interestingly, of those same cities with at least 25 transactions, Tampa owners received the most for their businesses, earning a median sale price of $485,000. The higher prices in the Tampa market could be responsible for the previously mentioned decline in transactions. Other markets with a high sale price include Baltimore ($482,500), Seattle ($425,000) and Denver ($400,000). San Diego owners sold the least expensive business in Q2, taking in a median sale price of $122,000.
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