Agoura Hills, CA Market TrendsBETA

Asking prices for multifamily properties rose to $154,730 per unit, a 1.1% increase compared with the end of the prior quarter. For the year, asking prices have fallen 2.6% on the year. Asking prices for multifamily properties hit a three-year peak in October 2007 at $209,684 per unit. In comparison, the current median asking price is down by 18%. The lowest asking price in the past three years was $152,213 set last month.

The average asking price for office properties in the metro area was $237.66 per square foot for the month. This represents a decrease of 3.9% year-over-year as well as a decrease of 1.6% compared to the end of the fourth quarter of 2011. This month, asking prices for office properties are at their lowest in three years. The previous three-year low was $239.98, set last month.

The average asking price for industrial properties in the metro area was $131.24 per square foot for the month. This represents a decrease of 5.4% year-over-year as well as a decrease of 1.4% compared to the end of the fourth quarter of 2011. This month, asking prices for industrial properties have fallen to a new three-year low. The previous three-year low was last month at $131.67.

For retail properties in the metro area, the average asking price was $243.13 per square foot for the month. This is down 1.4% from the previous year, and down 0.9% from the end of the fourth quarter of 2011. Asking prices for retail properties have fallen to a new three-year low this month. The previous three-year low was $243.56 in January 2012.

Sale prices for multifamily properties in the metro area appear to have a seasonal cycle to them. The highs in the cycle tend to occur around July and the lows come around January. Over the past year sale prices have fallen 2.9% to $132,517 per unit. This month marks the fourth consecutive month that the median sale price for multifamily properties in the area has been falling. Back when the streak began in the first month of the current three-year period, the median price was $134,465. The metro median sale price dropped to its three-year low this month. The previous low point was set last month at $133,614.

The median sale price per square foot for office properties in the metro area has fallen 1.1% in the past two months. This follows a four-month period ending in February when sale prices rose 3.4%. For office properties, the average sale price per square foot has risen to $193.97, a 1.5% increase compared to the end of last quarter. But for the previous 12 months, sale prices are down, showing a 4.2% decline. Over the past three years, the median sale price was at its highest in April 2009 at $262.65. In comparison, the current median sale price is down by 26.2%. However, the current price is 2.3% higher than the three-year-low set in November 2011.

Currently, the median sale price per square foot for industrial properties in the metro area is in three-month decline, falling 1.1% in that time. Prior to that, there was a rising streak of five months ending in January, when sale prices rose 1.6%. Sale prices per square foot for industrial properties decreased to $107.51, a decline of 1% compared with the last quarter. But for the preceiding 12 months, sale prices are up by 2.3%. The highest median sale price during the past three years was $144.72, set in April 2009. In comparison, the current median sale price is down by 25.7%. However, the current price is 3.3% higher than the three-year-low of $104.06, which was set in January 2011.

Compared to last quarter, retail properties has seen a 3.1% decline, to $207.50, for its average sale price per square foot. For the past year, though, sale prices have risen 0.1%. The median sale price per square foot for retail properties in the metro area is up for the year despite dropping for seven consecutive months. While prices have dropped 6.2% in that period, they are still up 0.1% for the year. The three-year-high in median sale price was set in April 2009 at $287.40. The current median sale price is 27.8% lower. However, the current price is 2% above the three-year-low of $203.47 set in April 2011.

This is the tenth month of a month-over-month downward trend in available multifamily properties in the metro area, a 14.7% decline. The number of multifamily properties available has fallen in March, reflecting a new three-year low in the Los Angeles Metro Area. The previous low was set last month. There has been a 11.1% drop in available multifamily properties over the past year in the Los Angeles Metro Area.

The number of office properties for sale in the metro area has been rising two months in a row month-over-month, moving up 0.6% in that time. However, this has yet to offset the drop of 3.3% over the past year.

The number of industrial properties available in the metro area has fallen seven months in a row month-over-month, declining 8.8%. The number of industrial properties available in the Los Angeles Metro Area for the month of March represents a three-year low. Previously, industrial properties available was at its lowest last month. Over the past year, the number of industrial properties available has dropped by 4.6% in the Los Angeles Metro Area.

The number of retail properties for sale has seen a month-over-month rise of 0.1% over two consecutive months but has yet to offset the decline of 4.7% over the past year.

Demand on LoopNet for multifamily properties spiked in the Los Angeles Metro Area market, rising 21.7% since December 2011, 4.2 percentage points more than the 17.5% increase in the national average. Demand for multifamily properties also increased by 6.3% over the past year. The yearly change ranks the Los Angeles Metro Area thirty-first out of the top 48 metros.

Demand on LoopNet for office properties spiked in the Los Angeles Metro Area market, rising 21.3% since December 2011, 0.4 percentage points less than the 21.8% increase in the national average. Demand for office properties also increased by 11.8% over the past year. The yearly change ranks the Los Angeles Metro Area forty-first out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the Los Angeles Metro Area market, rising 24.4% since December 2011, two percentage points more than the 22.4% increase in the national average. Demand for industrial properties also increased by 14.9% over the past year. The yearly change ranks the Los Angeles Metro Area fortieth out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the Los Angeles Metro Area market, rising 20.9% since December 2011, 1.2 percentage points more than the 19.6% increase in the national average. Demand for retail properties also increased by 12.2% over the past year. The yearly change ranks the Los Angeles Metro Area thirty-eighth out of the top 48 metros.

The available square footage for office properties has been on the rise month-over-month for two consecutive months, increasing 0.9% over that time. This, however, has yet to offset the 5.3% drop seen in the past year. The drop in supply and the rise in days on market could be an indicator that people are currently holding off putting their properties up for sale in the current economic climate. The current market conditions are not favorable for buyers or sellers as prices are falling and sellers still do not seem willing to put more properties on the market due to the poor conditions.

The square footage available for sale in the metro area has fallen consecutively for the past five months for industrial properties. A new three-year low in available square footage was reached during the month of March. Previously, last month set the low mark. Industrial properties in the metro area have seen a 1.8% drop in square footage for sale over the past year. The drop in both the supply of properties and the average time on market could be a sign that prices are going to move upwards. A decrease in supply also appears to be making the market more favorable for sellers, which could be why prices are going up.

The square footage available for sale marks a 3.5% decline over the past year. The drop in both the supply of properties and the average time on market could be a sign that prices are going to move upwards. A decrease in supply also appears to be making the market more favorable for sellers, which could be why prices are going up.

The number of units available for sale in the metro area is in a five month downward trend month-over-month for multifamily properties. The number of units available for sale for multifamily properties in the metro area decreased 5.3% year-over-year and 4.7% compared to the end of the fourth quarter of 2011. The units available in the metro area hit a new three-year low this month. The previous low was reached last month. The number of units available for sale for multifamily properties in the metro area represents a 5.3% decline over the past year. The drop in both the supply of properties and the average time on market could be a sign that prices are going to move upwards. The current market conditions are not favorable for buyers or sellers as prices are falling and sellers still do not seem willing to put more properties on the market due to the poor conditions.

Multifamily properties in the Los Angeles Metro Area are turning over faster than the same time last year, as the days on market slid 3% to 116 days. Overall in California the time on market has dropped even further as a percentage, by 3.7%, to 123 during the same time period. From May 2010, when the time on market was at its highest, it has fallen 6.9%. The time that multifamily properties stay on the market has risen 6.5% over the past seven months.

Compared with a year earlier, office properties in the Los Angeles Metro Area are staying on the market longer, and the gap is greater at the metro level than at the state level. They are now on the market for 190 days before turning over, which is 3% longer than last year. Meanwhile, the days on market at the state-level has dropped 9.9% to 190 days. From its lowest point in April 2009, the number of days on market have increased 19.2%.

The time on market for industrial properties in the Los Angeles Metro Area has fallen 9.5% from last year, to 188 days. During the same time period, the time on market for these properties at the state level has fallen even more as a percentage, by 14%, to 186. Compared with April 2009, when the time on market was at its lowest, these properties are now on the market 15.7% longer.

Over the past year, the time on market for retail properties in the Los Angeles Metro Area has decreased 7.9% to 144 days. Overall in California the time on market has dropped even further as a percentage, by 15.9%, to 147 during the same time period. Metro days on market is down 15.2% from its highest point in May 2010.

For office properties in the metro area, the average asking lease rate was $21.90 per square foot for the month. This shows a drop of 0.6% year-over-year, and a decline of 0.2% from the end of the fourth quarter of 2011. Asking rates for office properties reached a three-year high in July 2008 at $27.01 per square foot. In comparison, the median asking price is now 5.5% lower. On the other hand, the lowest asking lease rate in the past three years was seen in February 2012 at $21.87.

Asking rates for industrial properties have gone up versus past quarter, rising 0.5% to $8.74 per square foot. But for the year lease rates have dropped 0.4%. Asking rates for industrial properties reached a three-year high in January 2008 at $10.85 per square foot. In comparison, the median asking price is now 4.7% lower. On the other hand, the lowest asking lease rate in the past three years was seen last month at $8.67.

The average asking lease rate for retail properties in the metro area was $23.18 per square foot for the month. This represents a decrease of 2.2% year-over-year as well as a decrease of 0.1% compared to the end of the fourth quarter of 2011. Lease rates for retail properties hit a three-year peak in November 2007 at $30.35 per square foot. The current median asking lease rate is 13.5% lower. The lowest asking lease rate in the past three years was $23.14 set in February 2012.

There has been a eight month drop in the number of office spaces available month-over-month in the metro area, representing a 2.5% downward movement. The number of office spaces available in the Los Angeles Metro Area has fallen 0.8% over the past year.

For the past two months, the number of of industrial properties for lease has been on the rise month-over-month, increasing 1.5% over that period, but it was not enough to offset the 10.1% decline seen in the past year.

The number of retail spaces available in the metro area has fallen two months in a row, declining 0.1% in that time. However, this did not offset the increase of 0.2% over the past year.

Demand on LoopNet for office properties spiked in the Los Angeles Metro Area market, rising 27.5% since December 2011, 1.3 percentage points less than the 28.8% increase in the national average. Demand for office properties also increased by 19.2% over the past year. The yearly change ranks the Los Angeles Metro Area forty-first out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the Los Angeles Metro Area market, rising 29% since December 2011, 3.1 percentage points more than the 25.8% increase in the national average. Demand for industrial properties also increased by 24% over the past year. The yearly change ranks the Los Angeles Metro Area thirtieth out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the Los Angeles Metro Area market, rising 26.1% since December 2011, 0.8 percentage points more than the 25.3% increase in the national average. Demand for retail properties also increased by 22% over the past year. The yearly change ranks the Los Angeles Metro Area thirtieth out of the top 48 metros.

The square footage available in the metro area has fallen consecutively for the past six months for office properties. The square footage available marks a 2.4% decline over the past year.

This is the twelfth consecutive month that square footage available has declined month-over-month for industrial properties. The square footage available for industrial properties in the metro area decreased 17.1% year-over-year and 6.2% compared to the end of the fourth quarter of 2011. March showed a new three-year low of square footage available in the metro area. Previously, last month set the low mark. The square footage available for industrial properties in the metro area represents a 17.1% decline over the past year.

The square footage available in the metro area is in an eight month downward trend month-over-month for retail properties. Retail properties in the metro area have seen a 2% drop in square footage over the past year.

Office properties in the Los Angeles Metro Area are turning over more quickly compared to last year, as the time on market dropped 11.5% to 178 days. During the same time period, the time on market for these properties at the state level has fallen even more as a percentage, by 16.1%, to 183. From May 2010, when the time on market was at its longest, it has come down 19%.

The time on market for industrial properties in the Los Angeles Metro Area is down 13.7% from last year, to 153 days. In California overall, the time on market fell even more as a percentage, by 25.5%, to 157. When put next to the highest days on market established in December 2010, it has now decreased 15.7%.

Over the past year, the time on market for retail properties in the Los Angeles Metro Area has decreased 10.4% to 223 days. Overall in California the time on market has dropped even further as a percentage, by 14.5%, to 229 during the same time period. Compared with April 2009, when time on market was its shortest, it has now gotten 30% longer.