Clark County’s commercial market spent the past year doing something that looks like a contradiction. Fewer properties changed hands, and the typical sale got bigger.
From November 2025 through October 2026, 203 commercial properties sold countywide, down from 222 the year before. That’s a 9% dip. Total dollar volume fell harder, about 18%, to roughly $660 million. Yet the median sale price climbed 17%, from about $1.49 million to $1.74 million.
So what gives? Two things happened at once.
By the numbers: Clark County commercial sales
Sales by property type
| Property type | Sales (last 12) | Sales (prior 12) | Volume (last 12) | Median price | Median $/SF |
|---|---|---|---|---|---|
| Retail | 63 | 57 | $130M | $1.26M | $290 |
| Industrial | 41 | 30 | $162M | $2.90M | $206 |
| Land | 40 | 50 | $73M | $1.35M | $648K / acre |
| Multifamily | 23 | 43 | $192M | $3.32M | $219 |
| Office | 22 | 27 | $25M | $1.30M | $173 |
The giant deals cooled off
Multifamily is the clearest example. Apartment sales were cut nearly in half, 23 versus 43, and apartment dollar volume dropped from about $383 million to $192 million. When a handful of big apartment trades disappear, total volume takes the hit even if the rest of the market holds steady.
The middle of the market got pricier
Industrial led the way. Industrial sales rose from 30 to 41, volume jumped nearly 50%, and the median industrial sale roughly doubled to $2.9 million. Warehouse, flex and service buildings stayed in demand, and buyers paid up for them. Retail quietly gained too, with 63 sales versus 57 and volume up almost 40%. By city, Camas (15 sales, up from 9) and Battle Ground (20, up from 15) picked up the pace, while Washougal slowed to just 3.
Price per square foot tells a calmer story. Across all building types, the median held near $266 per square foot, up about 2%. Values aren’t running away. The mix of what sold simply shifted toward larger properties.
What this means if you lease your space
Here’s the number I’d watch if you own a business and pay rent. Sales of buildings priced between $500,000 and $2 million, the sweet spot for owner-users, fell from 34 to 19 when you compare the last six months with the six before. The median price in that range rose about 24%, to around $1.14 million.
Fewer small buildings are coming to market, and the ones that do cost more. That’s a squeeze. It’s also a signal. When inventory is thin, the buyers who win are the ones who planned ahead. They know their budget, have financing lined up, and can move quickly when the right building shows up. Waiting for prices to fall hasn’t paid off in this segment.
A few honest caveats
September and October are still filling in, because sales keep getting recorded for weeks after they close. Small categories can swing on just a few deals. And a median is a midpoint, not a promise about any one property.
If you’ve been wondering whether owning your building makes sense, now is a good time to find out what it would actually take for your business. I’m happy to walk through it with you, no pressure.
