The company reported 123 average bids per auction, signaling aggressive buyer appetite despite broader market fluctuations. Hospitality assets dominated the landscape for the second consecutive quarter, generating $88 million across 19 transactions. This sector performance tied the platform’s all-time high for the asset class, encompassing diverse properties ranging from beachfront resorts to destination lodging. Competitive bidding in the Midwest proved particularly effective, with two Texas hotels—sold in the same region—collecting 32 and 45 bids respectively. The sales cleared at 203% and 142% of their reserve prices, totaling $17.35 million.
Crexi Auction Hits Second-Highest GMV as Hospitality Assets Surge
With $145.8 million in gross market value sold during the second quarter of 2026, Crexi Auction saw its second-strongest performance on record. The platform facilitated 68 commercial property sales, fueled by a surge in hospitality interest and a record-breaking influx of new listings from brokers and owners.
Operational volume rose significantly, with a 74% quarter-over-quarter increase in properties listed for auction. To manage this complexity, Crexi launched a dedicated Portfolio Dashboard designed to provide brokers with centralized oversight of multi-property campaigns. According to Sonya Bokano, vice president of transactions at Crexi, the record pipeline growth reflects a structural shift as owners increasingly view online auctions as a core disposition strategy. Michigan led regional activity, contributing to a broader trend where Michigan, Illinois, and Ohio combined accounted for over a quarter of all platform deals. The average time from initial listing to final sale held steady at 43 days, maintaining the platform's focus on transactional velocity.
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