How Long Does It Take To Complete A Commercial Real Estate Appraisal Report? 13.3 Days Per Latest Report

If you ever wondered how long a commercial property appraisal report takes to complete then this is the right article for you.

What is the average turnaround time for a commercial appraisal report?

According to the latest LightBox CRE Market Snapshot Q1 2024, which highlights trends in lender-driven appraisals, including the latest industry benchmarks on fees, turnaround time and metro-level performance, the average turnaround time was 13.3 days nationally which represents a slight decrease from the prior quarter (13.7 days), and from from a year ago (14.0 days) due to the very competitive nature of the market.

Please keep in mind that this was a national appraisal fee for mostly lender based commercial appraisal work. In general, commercial real estate appraisal turnaround times are 2 to 4 weeks.

Do you need a quote for a commercial property appraisal?

If you find yourself needing commercial appraisal services, please let Vanguard Realty Advisors assist you.  We can help you navigate and understand the commercial appraisal process. Please contact us to request a quote.