The hospitality and office sectors enjoyed stellar sales increases in July, according to a commercial real estate report from Colliers.

While overall commercial real estate sales were nearly flat in July, with volume of $36.3 billion down 1% from last year, the office sector had monthly sales of $7.6 billion, a 31% year-over-year increase.

Property sales volumes in long-suffering central business districts (CBDs) increased 46% from a year ago, and suburban property sales were up 26%. The office sector was also the only commercial property type to register a price increase, with overall prices up 4% year over year.

Colliers writes that the CBD gains were driven by individual assets sales, which more than doubled. Suburban sales were boosted by portfolio activity, including the selling of medical office portfolios.

Hospitality did even better, with year-over-year July volume rising 61% to $2.5 billion. The gains were led by full-service hotels, which experienced both stronger portfolio sales and individual asset sales. Limited-service volume also rose, with a focus on portfolio sales.

Pricing in the hospitality sector remained an issue, with the hotel commercial property price index (CPPI) — a metric used to track the changing value and market trends of properties — down 8.6% year over year. At the same time, trailing 12-month cap rates rose to 8.3%.

The industrial sector saw flat annual sales in July, with volume at $9 billion. Portfolio and entity activity was up 9%, while single-asset sales were down 4%. Warehouse volume fell by 1%, but flex sales increased 5%. The sector’s trailing 12-month cap rates rose to 6.6% from last year’s 6.3%.

Multifamily was the largest sector by volume, with July apartment sales totaling $12.4 billion, down 16% year over year. The sale of individual assets declined 25%, while portfolio and entity activity rose 21% — thanks to one large California portfolio transaction. Without that one deal, mid- and high-rise portfolio sales would have been down in a year-over-year comparison. Multifamily pricing also fell, with the apartment CPPI falling 4.1% since last July.

Retail also experienced a difficult month, with sales volume down 13% from last July to a total of $4.7 billion. Portfolio and entity sales fell sharply, while single-asset activity was down 1%. Despite the downturn, shopping centers continued to be one of the sector’s standout categories. The retail CPPI declined 0.9%.