Concord, CA Market TrendsBETA

Asking prices for multifamily properties have fallen 6.1% to $177,641 per unit over the past quarter. However, over the past year asking price have risen 4.7%. Asking prices for multifamily properties hit a three-year peak in January 2008 at $204,024 per unit. In comparison, the current median asking price is down by 12.2%. The lowest asking price in the past three years was $169,119 set in February 2011.

The average asking price for office properties in the metro area was $246.85 per square foot for the month. This is down 5.1% from the previous year, and down 4.4% 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 $252.98.

For industrial properties in the metro area, the average asking price was $141.41 per square foot for the month. This shows a drop of 8% year-over-year, and a decline of 1.7% from the end of the fourth quarter of 2011. This month, asking prices for industrial properties are at their lowest in three years. Prior to this, the record three-year low was last month at $141.52.

Asking prices for retail properties rose to $236.17 per square foot, a 0.1% increase compared with the end of the last quarter. For the year, asking prices are up 2.1%. In November 2008, the asking prices for retail properties were at their highest in the past three years at $290.81 per square foot. The current median asking price is 5.2% lower. The lowest asking price over the past three years was $228.98 in June 2011.

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 August and the lows come around February. Over the past year sale prices have fallen 7.6% to $145,219 per unit. The median sale price of multifamily properties in the metro area has been on a downward slope for the fourth month in a row. Back when the streak began in the first month of the current three-year period, the median price was $151,212. The median price for the metro area hit its three-year low this month. The previous low was $148,731, which was set in June 2011.

For the past three months, the median sale price per square foot for office properties in the metro area has risen 10.2%. This follows a three-month down streak that ended in January during which sale prices fell 1.8%. Sale prices per square foot for office properties rose to $222.79, a 10.1% increase compared with the end of the prior quarter. For the previous 12 months, sale prices have increased by 24.4%. Over the past three years, the median sale price was at its highest in August 2009 at $246.59. In comparison, the current median sale price is down by 9.6%. However, the current price is 24.9% higher than the three-year-low set in February 2011.

Sale prices per square foot for industrial properties increased to $112.34, a growth of 3.4% compared with the last quarter. But for the previous 12 months, sale prices are down, showing a 4.9% decline. While the median sale price per square foot for industrial properties in the metro area has been increasing for three consecutive months, it is still down year-over-year. The three-year-high in median sale price was set in April 2009 at $167.90. In comparison, the current median sale price is down by 33.1%. However, the current price is 6.5% higher than the three-year-low of $105.48, which was set in October 2011.

The median sale price per square foot for retail properties in the metro area has been rising for three straight months, climbing 3.7% during that time. There was a 3.8% decline earlier this year during a five-month period ending in January. Compared to last quarter, the average sale price per square foot for retail properties rose by 2.8% to $188.29. But for the previous 12 months, sale prices have dipped by 4.4%. The highest median sale price during the past three years was $250.45, set in April 2009. In comparison, the median sale price is now 24.8% lower. However, the current price is 6.1% higher than the June 2011 figure, which was the three-year low.

The number of multifamily properties for sale has seen a month-over-month rise of 0.4% over two consecutive months but has yet to offset the decline of 27.1% over the past year.

This is the eleventh month of a month-over-month downward trend in available office properties in the metro area, a 17.1% decline. The number of office properties available in the San Francisco Metro Area for the month of March represents a three-year low. The previous low was set last month. In the past year, the San Francisco Metro Area has seen a 17.8% decline in the number of available office properties.

Available industrial 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 1.1% drop seen in 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 2.9% over that period, but it was not enough to offset the 7.7% decline seen in the past year.

Demand on LoopNet for multifamily properties spiked in the San Francisco Metro Area market, rising 16.3% since December 2011, 1.2 percentage points less than the 17.5% increase in the national average. Demand for multifamily properties also increased by 7.4% over the past year. The yearly change ranks the San Francisco Metro Area twenty-eighth out of the top 48 metros.

Demand on LoopNet for office properties spiked in the San Francisco Metro Area market, rising 23.7% since December 2011, 1.9 percentage points more than the 21.8% increase in the national average. Demand for office properties also increased by 22.3% over the past year. The yearly change ranks the San Francisco Metro Area twenty-sixth out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the San Francisco Metro Area market, rising 53.9% since December 2011, 31.5 percentage points more than the 22.4% increase in the national average. Demand for industrial properties also increased by 49% over the past year. The yearly change ranks the San Francisco Metro Area sixth out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the San Francisco Metro Area market, rising 20.8% since December 2011, 1.2 percentage points more than the 19.6% increase in the national average. Demand for retail properties also increased by 17.6% over the past year. The yearly change ranks the San Francisco Metro Area thirty-second out of the top 48 metros.

The month-over-month rise in available square footage for sale for office properties is now in its third month. Square footage for office properties has risen 1.7% versus the end of last quarter. For the year, square footage is up 4.1%. There has been a 4.1% increase in square footage available for sale over the past year in the metro area. 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.

Over the past six months, industrial properties has seen a steady increase of 10.1% available in square footage in the metro area. This was insufficient to offset the 0.5% decrease of the past year. The available square footage for industrial properties has risen 7.8% versus last quarter. But for the year, square footage is down 0.5%. 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 available square footage for retail properties has been on the rise month-over-month for four consecutive months, increasing 4.2% over that time. This, however, has yet to offset the 11% drop seen in the past year. The available square footage for retail properties has risen 4.2% versus last quarter. But for the year, square footage is down 11%. The drop in supply and the shorter time on market has caused prices to go up, and may continue to do so. 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 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 37.3% year-over-year and 19.3% compared to the end of the fourth quarter of 2011. The units available in the metro area for the month of March represents a three-year low. Previously, last month set the low mark. The number of units available for sale marks a 37.3% decline over 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.

Multifamily properties in the San Francisco Metro Area are on the market longer compared with the same month last year, and this gap is greater than that at the state level. They are now on the market for 133 days before being sold, 1% longer than last year. Meanwhile, the days on market at the state-level has dropped 3.7% to 123 days. From May 2009, when the time on market was at its highest, it has fallen 9.5%.

Office properties in the San Francisco Metro Area stay on the market for 150 days, which is 17.8% shorter than last year. At the state level, time on market has fallen by 9.9% during the same time period. When put next to the highest days on market established in June 2011, it has now decreased 23.5%.

The time on market for industrial properties in the San Francisco Metro Area is 163 days, down by 24% from last year. Overall in California the time on market has dropped by 14% during the same time period. This month represents a new low for days on market in the metro area.

The time on market for retail properties in the San Francisco Metro Area has fallen 1.4% from last year, to 170 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. From the lowest point, which was set in May 2009, time on market has risen 14.8%.

Asking rates for office properties have gone up from the end of last quarter, rising 0.8% to $22.96 per square foot. For the year, lease rates have gone up 3.9%. In October 2008, the asking rates for office properties were at their highest in the past three years at $26.46 per square foot. The current median asking lease rate is 2.2% lower. The lowest asking lease rate over the past three years was $22.04 in February 2011.

The average asking lease rate for industrial properties in the metro area was $8.76 per square foot for the month. This is down 2.3% from the previous year, and down 0.7% from the end of the fourth quarter of 2011. Asking rates for industrial properties have fallen to a new three-year low this month. The previous three-year low was last month at $8.76.

Lease rates for retail properties have risen 0.6% versus last quarter to $24.09 per square foot. But for the year asking rates have dropped 0.8%. Lease rates for retail properties hit a three-year peak in June 2008 at $29.10 per square foot. In comparison, the current median asking price is down by 12.6%. The lowest asking lease rate in the past three years was $23.95 set in December 2011.

There has been a 11 month drop in the number of office spaces available month-over-month in the metro area, representing a 6.9% downward movement. The number of available office spaces has reached a new three-year low in the San Francisco Metro Area this month. Last month marked the previous low. Over the past year, the number of office spaces available has dropped by 9.3% in the San Francisco Metro Area.

Available industrial spaces have fallen for the past five months month-over-month, a 3.5% decline. In March, available industrial spaces in the San Francisco Metro Area reached a new three-year low. Previously, industrial spaces available was at its lowest in April 2009. There has been a 9.3% drop in available industrial spaces over the past year in the San Francisco Metro Area.

The number of retail spaces available in the metro area has fallen four months in a row month-over-month, declining 1.8%. The number of retail spaces available in the San Francisco Metro Area has fallen 1.7% over the past year.

Demand on LoopNet for office properties spiked in the San Francisco Metro Area market, rising 30.7% since December 2011, two percentage points more than the 28.8% increase in the national average. Demand for office properties also increased by 28.2% over the past year. The yearly change ranks the San Francisco Metro Area thirtieth out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the San Francisco Metro Area market, rising 26.2% since December 2011, 0.4 percentage points more than the 25.8% increase in the national average. Demand for industrial properties also increased by 21.5% over the past year. The yearly change ranks the San Francisco Metro Area thirty-fourth out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the San Francisco Metro Area market, rising 34.1% since December 2011, 8.8 percentage points more than the 25.3% increase in the national average. Demand for retail properties also increased by 26.4% over the past year. The yearly change ranks the San Francisco Metro Area twentieth out of the top 48 metros.

The square footage available in the metro area has fallen consecutively for the past seven months for office properties. The square footage available for office properties in the metro area decreased 8.9% year-over-year and 3% 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. The previous low was reached last month. The square footage available for office properties in the metro area represents a 8.9% decline over the past year.

The square footage available in the metro area is in a four month downward trend month-over-month for industrial properties. Industrial properties in the metro area have seen a 6.5% drop in square footage over the past year.

The square footage available for retail properties in the metro area has risen 2% over the past year.

The time on market for office properties in the San Francisco Metro Area is down 28.2% from last year, to 145 days. During the same period, days on market in California have dropped 16.1%. This month, days on market in the metro area reached a new low.

Days on market for industrial properties in the San Francisco Metro Area fell 37.6% from last year, to 139 days. Over the same period, days on market in California overall have fallen by 25.5%. From May 2011, when the time on market was at its longest, it has come down 40.6%.

Retail properties in the San Francisco Metro Area stay on the market for 167 days, which is 16.6% shorter than last year. At the state level, time on market has fallen by 14.5% during the same time period. This month, days on market in the metro area fell to a new lowest point.