Alpharetta, GA Market TrendsBETA

The average asking price for multifamily properties in the metro area was $34,289 per unit for the month. This shows a drop of 28.3% year-over-year, and a decline of 8% from the end of the fourth quarter of 2011. Asking prices for multifamily properties reached a three-year high in July 2007 at $76,549 per unit. In comparison, the median asking price is now 45.9% lower. The lowest asking price in the past three years was $33,973 set in February 2012.

For office properties in the metro area, the average asking price was $108.01 per square foot for the month. This is down 5.3% from the previous year, and down 0.9% from the end of the fourth quarter of 2011. Asking prices for office properties are the lowest they have been in three years. The previous three-year low was last month at $108.02.

For industrial properties in the metro area, the average asking price was $57.47 per square foot for the month. This is down 9.9% from the previous year, and down 2.5% from the end of the fourth quarter of 2011. Asking prices for industrial properties hit a three-year peak in September 2008 at $77.60 per square foot. The current median asking price is 4.3% lower. The lowest asking price over the past three years was $55.10 in December 2005.

The average asking price for retail properties in the metro area was $122.08 per square foot for the month. This represents a decrease of 7.5% year-over-year as well as a decrease of 2% compared to the end of the fourth quarter of 2011. This month, asking prices for retail properties are at their lowest in three years. The previous three-year low was $122.85, set last month.

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 9.2% to $26,191 per unit. For the past two months, the median sale price per unit for multifamily properties in the metro area has dropped 0.5%. Previously, sale prices rose 0.6% over a four-month period ending in February. The highest median sale price over the past three years was $56,363, which was set in October 2009. The current median sale price is 53.5% lower. However, the current price is 0% above the lowest price of the past three years, which was set in November 2011.

Over the past three months, the median sale price per square foot for office properties in the metro area has fallen 4.6%. Sale prices rose 2% earlier this year during a four-month streak that ended in January. At $70.94, sale prices per square foot for office properties have decreased by 4% compared to the end of the prior quarter. Sale prices are also down over the previous 12 months, having declined by 11.3%. The metro median sale price dropped to its three-year low this month. The previous low of $72.89 was set in October 2011.

The median sale price per square foot for industrial properties in the metro area has been falling for two straight months, dropping 0.7% during that time. Prior to that, there was a rising streak of nine months ending in February, when sale prices rose 11.3%. Sale prices per square foot for industrial properties have increased by 2.7%, and currently sit at $38.62. Over the past year, sale prices have risen 1.1%. Over the past three years, the median sale price reached its highest of $64.90 in April 2009. In comparison, the median sale price is now 40.5% lower. However, the current price is 10.5% higher than the June 2011 figure, which was the three-year low.

The median sale price per square foot for retail properties in the metro area has climbed 0.4% over the past two months. Earlier, there was a four-month period that ended in February when sale prices fell 2.4%. Sale prices per square foot for retail properties dipped to $76.40, a 1.3% decrease compared with the end of the prior quarter. Similarly, over the previous year, sale prices have dropped by 8%. The highest median price of the past three years was set in May 2009 at $125.33. The current median sale price is 39% lower. However, the current price is 5.3% above the three-year-low of $72.53 set in June 2011.

Available multifamily for sale have been on the rise for the past two months month-over-month, a 0.7% increase overall. This, however, has yet to offset the 2.3% drop seen in the past year.

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% in that time. However, this has yet to offset the drop of 8.5% over the past year.

The number of industrial properties for sale has seen a month-over-month rise of 0.6% over two consecutive months but has yet to offset the decline of 5.1% over the past year.

For the past three months, the number of of retail properties for sale has been on the rise month-over-month, increasing 1.1% over that period, but it was not enough to offset the 6.3% decline seen in the past year.

Demand on LoopNet for multifamily properties spiked in the Atlanta Metro Area market, rising 21.9% since December 2011, 4.4 percentage points more than the 17.5% increase in the national average. Demand for multifamily properties also increased by 33.8% over the past year. The yearly change ranks the Atlanta Metro Area eleventh out of the top 48 metros.

Demand on LoopNet for office properties spiked in the Atlanta Metro Area market, rising 26.3% since December 2011, 4.5 percentage points more than the 21.8% increase in the national average. Demand for office properties also increased by 25.5% over the past year. The yearly change ranks the Atlanta Metro Area nineteenth out of the top 48 metros.

While interest in industrial properties listed on LoopNet has risen 11.1% over the past year, that change ranks forty-fourth out of the top 48 metros. Demand on LoopNet for industrial properties spiked in the Atlanta Metro Area market, rising 20% since December 2011, 2.4 percentage points less than the 22.4% increase in the national average.

Interest in retail properties listed on LoopNet has fallen 2.8% over the past year. The change ranks forty-eighth out of the top 48 metros. Interest in retail properties listed on LoopNet in the Atlanta Metro Area has increased this quarter, rising 16.9% since December 2011, 2.7 percentage points less than the 19.6% increase in the national average.

For the past nine months, available square footage for sale has declined month-over-month for office properties. The square footage available in the metro area for the month of March represents a three-year low. The previous low was reached last month. The square footage available for sale for office properties in the metro area has fallen 16.3% 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.

The square footage available for sale for industrial properties have been on the rise month-over-month for two consecutive months. The square footage available for sale for industrial properties in the metro area has risen 0.2% 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.

There has been a four month upward trend in available square footage for retail properties, representing a 3.3% upward trend, but it was not enough to offset the 0.7% decline seen in the past year. The available square footage for retail properties has risen 3.3% versus last quarter. But for the year, square footage is down 0.7%. 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.

This is the fifth month of a 24% decline in a available number of units for multifamily properties. This, however, did not offset the 6% increase of 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 Atlanta Metro Area stay on the market for 110 days, which is 13.1% shorter than last year. Overall in Georgia the time on market has dropped by 1.8% during the same time period. Compared with March 2010, when days on market was at its highest, they've now fallen 37.3%.

The time on market for office properties in the Atlanta Metro Area is 223 days, down by 17.7% from last year. During the same period, days on market in Georgia have dropped 13.1%. When put next to the highest days on market established in June 2011, it has now decreased 21.4%.

Industrial properties in the Atlanta Metro Area are turning over more quickly compared to last year, as the time on market dropped 1.8% to 273 days. In Georgia overall, the time on market fell even more as a percentage, by 11.6%, to 263. Compared with April 2009, when the time on market was at its lowest, these properties are now on the market 35.4% longer.

The time on market for retail properties in the Atlanta Metro Area has fallen 34.3% from last year, to 153 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 39.5%, to 143. From April 2010, when the time on market was at its longest, it has come down 39%. The time that retail properties stay on the market in the metro area has been increasing every month for the past four months.

Asking rates for office properties have fallen 0.3% to $16.05 per square foot over the past quarter. However, over the past year asking lease rate have risen 2.2%. Lease rates for office properties hit a three-year peak in August 2008 at $17.27 per square foot. The current median asking lease rate is 1.6% lower. The lowest asking lease rate over the past three years was $15.53 in February 2011.

The average asking lease rate for industrial properties in the metro area was $5.46 per square foot for the month. This shows a drop of 5.1% year-over-year, and a decline of 1.7% from the end of the fourth quarter of 2011. Lease rates for industrial properties are the lowest they have been in three years. Prior to this, the record three-year low was last month at $5.47.

For retail properties in the metro area, the average asking lease rate was $14.03 per square foot for the month. This represents a decrease of 4.6% year-over-year as well as a decrease of 0.8% compared to the end of the fourth quarter of 2011. Asking rates for retail properties hit a new three-year low this month. The previous three-year low was last month at $14.06.

For the past two months, the number of of office properties for lease has been on the rise month-over-month, increasing 0.4% over that period, but it was not enough to offset the 3.5% decline seen in the past year.

The number of industrial properties for lease has seen a month-over-month rise of 5.6% over seven consecutive months but has yet to offset the decline of 8% over the past year.

This is the third month of an increase in retail properties for lease in the metro area, representing a 1% increase. This was insufficient to offset the 0.6% decrease of the past year.

Demand on LoopNet for office properties spiked in the Atlanta Metro Area market, rising 26.4% since December 2011, 2.4 percentage points less than the 28.8% increase in the national average. Demand for office properties also increased by 35.4% over the past year. The yearly change ranks the Atlanta Metro Area eighteenth out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the Atlanta Metro Area market, rising 24.5% since December 2011, 1.4 percentage points less than the 25.8% increase in the national average. Demand for industrial properties also increased by 16.8% over the past year. The yearly change ranks the Atlanta Metro Area forty-first out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the Atlanta Metro Area market, rising 25.1% since December 2011, 0.2 percentage points less than the 25.3% increase in the national average. Demand for retail properties also increased by 22.2% over the past year. The yearly change ranks the Atlanta Metro Area twenty-eighth out of the top 48 metros.

The square footage available in the metro area is in a four month downward trend month-over-month for office properties. The square footage available for office properties in the metro area decreased 5.9% year-over-year and 2.7% compared to the end of the fourth quarter of 2011. The square footage available for office properties in the metro area has fallen 5.9% over the past year.

Over the past seven months, industrial properties has seen a steady increase of 12.5% available in square footage in the metro area. This was insufficient to offset the 4.5% decrease of the past year. The available square footage for industrial properties has risen 7.9% versus last quarter. But for the year, square footage is down 4.5%.

Square footage for retail properties has risen 0.1% versus the end of last quarter. For the year, square footage is up 0.8%. Retail properties in the metro area have seen a 0.8% rise in the average available square footage over the past year.

Compared with a year earlier, office properties in the Atlanta Metro Area are taking longer to move, and the change in days on market is greater than that at the state level. They now last 233 days on the market at the metro level, an increase of 16.8% year-over-year. For the state, these properties stay on the market for 246 days, up 10.2% from last year. From its lowest point in January 2011, the number of days on market have increased 25.5%. Days on market for office properties has been on an upward climb over the past three months.

The time on market for industrial properties in the Atlanta Metro Area is 208 days, down by 14.2% from last year. At the state level, time on market has fallen by 2.3% during the same time period. From July 2011, when the time on market was at its highest, it has fallen 36.9%.

Days on market for retail properties in the Atlanta Metro Area fell 9.5% from last year, to 250 days. Over the same period, days on market in Georgia overall have fallen by 8.3%. Compared with April 2009, when time on market was its shortest, it has climbed 21.8%. The time that retail properties stay on the market has risen 12% over the past five months.