Coronado, CA Market TrendsBETA

Asking prices for multifamily properties have gone up from the end of last quarter, rising 4.7% to $152,745 per unit. Asking prices have risen 17.3% on the year. Asking prices for multifamily properties hit a three-year peak in September 2006 at $190,196 per unit. In comparison, the median asking price is now 12.4% lower. The lowest asking price in the past three years was $128,153 set in December 2010.

For office properties in the metro area, the average asking price was $215.54 per square foot for the month. This shows a drop of 11.2% year-over-year, and a decline of 0.9% from the end of the fourth quarter of 2011. Asking prices for office properties hit a three-year peak in August 2007 at $345.61 per square foot. In comparison, the median asking price is now 24.3% lower. The lowest asking price in the past three years was $215.39 set in January 2012.

For industrial properties in the metro area, the average asking price was $127.24 per square foot for the month. This represents a decrease of 9.2% year-over-year as well as a decrease of 1.1% compared to the end of the fourth quarter of 2011. Asking prices for industrial properties reached a three-year high in November 2008 at $190.01 per square foot. The current median asking price is 24.9% lower. On the other hand, the lowest asking price in the past three years was seen in February 2012 at $127.16.

The average asking price for retail properties in the metro area was $212.67 per square foot for the month. This is down 14.6% from the previous year, and down 10.5% from 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 last month at $225.84.

Sale prices for multifamily properties in the metro area appear to have a seasonal cylce to them. The highs in the cycle tend to occur around June and the lows come around December. Over the past year sale prices have risen 1.6% to $132,006 per unit. But for the preceiding 12 months, sale prices are up by 1.6%. The highest median sale price over the past three years was $142,344, which was set in October 2009. In comparison, the median sale price is now 7.3% lower. However, the current price is 1.6% higher than the three-year-low of $129,905, which was set in March 2011. This month marks the fifth straight month of declining median sale price for the metro multifamily properties. When the streak began in November 2011, the median sale price was $136,582.

Compared to the end of the prior quarter, sale prices per square foot for office properties have risen 13.4% to $206.54. Likewise, sale prices are up 22.7% for the last 12 months. The highest median price of the past three years was set in June 2009 at $326.23. The current median sale price is 36.7% lower. However, the current price is 25.7% higher than the three-year-low set in February 2011. The median sale price of the metro office properties has been on a positive climb for the fifth straight month. When the streak started in November 2011, the median sale price was $180.73.

For industrial properties, the average sale price per square foot has risen to $111.18, a 3.2% increase compared to the end of last quarter. However, the average sale price for the previous year has decreased by 0.8%. The median sale price per square foot for industrial properties in the metro area has decreased over the past year but are currently in a seven month rising streak. The three-year-high in median sale price was set in April 2009 at $166.89. The current median sale price is 33.4% lower. However, the current price is 8% higher than the September 2011 figure, which was the three-year low.

Sale prices per square foot for retail properties have increased by 8.7%, and currently sit at $227.69. Similarly, for the past 12 months, sale prices are up 23.5%. The highest median sale price during the past three years was $268.00, set in August 2009. In comparison, the current median sale price is down by 15%. However, the current price is 30.4% above the three-year-low of $174.54 set in May 2011. This is the eleventh straight month that the median sale price for retail properties has climbed.

Available multifamily properties have fallen for the past four months month-over-month, a 9.7% decline. This month, the number of multifamily properties available in the San Diego Metro Area fell, hitting its lowest point in three years. Last month marked the previous low. The number of multifamily properties available in the San Diego Metro Area has fallen 20.3% over the past year.

This is the twelfth month of a month-over-month downward trend in available office properties in the metro area, a 16.5% decline. The number of office properties available in the San Diego Metro Area for the month of March represents a three-year low. The previous low was set last month. Over the past year, the number of office properties available has dropped by 16.4% in the San Diego Metro Area.

The number of industrial properties available in the metro area has fallen four months in a row month-over-month, declining 8.7%. The number of industrial properties available has fallen in March, reflecting a new three-year low in the San Diego Metro Area. Previously, industrial properties available was at its lowest last month. There has been a 10.4% drop in available industrial properties over the past year in the San Diego Metro Area.

For five consecutive months, the number of retail properties available has seen a month-over-month decline, 11.9% overall. The number of available retail properties has reached a new three-year low in the San Diego Metro Area this month. Last month marked the previous low. In the past year, the San Diego Metro Area has seen a 6.5% decline in the number of available retail properties.

Demand on LoopNet for multifamily properties spiked in the San Diego Metro Area market, rising 13% since December 2011, 4.6 percentage points less than the 17.5% increase in the national average. Demand for multifamily properties also increased by 4.5% over the past year. The yearly change ranks the San Diego Metro Area thirty-fourth out of the top 48 metros.

Demand on LoopNet for office properties spiked in the San Diego Metro Area market, rising 32.1% since December 2011, 10.3 percentage points more than the 21.8% increase in the national average. Demand for office properties also increased by 17.2% over the past year. The yearly change ranks the San Diego Metro Area thirty-fourth out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the San Diego Metro Area market, rising 24.5% since December 2011, 2.1 percentage points more than the 22.4% increase in the national average. Demand for industrial properties also increased by 26.7% over the past year. The yearly change ranks the San Diego Metro Area twenty-first out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the San Diego Metro Area market, rising 6.5% since December 2011, 13.2 percentage points less than the 19.6% increase in the national average. Demand for retail properties also increased by 25.4% over the past year. The yearly change ranks the San Diego Metro Area twenty-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 thirteenth month. Square footage for office properties has risen 3.6% versus the end of last quarter. For the year, square footage is up 19.2%. Office properties in the metro area have seen a 19.2% rise in the average available 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 available square footage in the metro area has fallen four months in a row month-over-month for industrial properties, dropping 7.3% over that period. However, this did not offset the increase of 0.7% 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.

There has been a four month upward trend month-over-month in available square footage for sale for retail properties. Square footage for retail properties has risen 7.3% versus the end of last quarter. For the year, square footage is up 6.8%. There has been a 6.8% 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.

For the past four months, available units for sale has declined month-over-month for multifamily properties. The number of units available for sale for multifamily properties in the metro area decreased 33.9% year-over-year and 30.3% compared to the end of the fourth quarter of 2011. The number of units available for sale marks a 33.9% 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. A decrease in supply also appears to be making the market more favorable for sellers, which could be why prices are going up.

Compared with a year earlier, multifamily properties in the San Diego Metro Area are staying on the market longer, and the gap is greater at the metro level than at the state level. They now last 131 days on the market at the metro level, an increase of 4.8% year-over-year. For the state, these properties are on the market for 123 days, 3.7% less than last year. Compared with November 2010, when time on market was its shortest, it has climbed 10.7%.

The time on market for office properties in the San Diego Metro Area is down 33.3% from last year, to 185 days. At the state level, time on market has fallen by 9.9% during the same time period. This month, time on market for these properties hit a new low point.

Days on market for industrial properties in the San Diego Metro Area fell 25% from last year, to 196 days. Overall in California the time on market has dropped by 14% during the same time period. From January 2011, when the time on market was at its highest, it has fallen 30.5%.

Retail properties in the San Diego Metro Area stay on the market for 132 days, which is 38.2% shorter than last year. Over the same period, days on market in California overall have fallen by 15.9%. From April 2011, when the time on market was at its longest, it has come down 38.5%. The time that retail properties stay on the market has risen 5.2% over the past three months.

The average asking lease rate for office properties in the metro area was $21.14 per square foot for the month. This is down 4.1% from the previous year, and down 0.6% from the end of the fourth quarter of 2011. Asking rates for office properties reached a three-year high in August 2008 at $25.89 per square foot. The current median asking lease rate is 9.3% lower. On the other hand, the lowest asking lease rate in the past three years was seen in February 2012 at $21.13.

Asking rates for industrial properties have gone up versus past quarter, rising 0.4% to $9.84 per square foot. For the year, lease rates have fallen 1.8% on the year. Asking lease rates for industrial properties hit a three-year peak in January 2008 at $12.57 per square foot. In comparison, the median asking price is now 9.9% lower. The lowest asking lease rate in the past three years was $9.80 set in December 2011.

For retail properties in the metro area, the average asking lease rate was $20.86 per square foot for the month. This shows a drop of 3.2% year-over-year, and a decline of 0.6% from the end of the fourth quarter of 2011. Lease rates for retail properties have fallen to a new three-year low this month. Prior to this, the record three-year low was last month at $20.94.

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 8.1% decline seen in the past year.

This is the second month of an increase in industrial properties for lease in the metro area, representing a 0.7% increase. This was insufficient to offset the 10.2% decrease of the past year.

The number of retail properties for lease in the metro area has been rising two months in a row month-over-month, moving up 0.1% in that time. However, this has yet to offset the drop of 5.5% over the past year.

Demand on LoopNet for office properties spiked in the San Diego Metro Area market, rising 28.6% since December 2011, 0.2 percentage points less than the 28.8% increase in the national average. Demand for office properties also increased by 22.7% over the past year. The yearly change ranks the San Diego Metro Area thirty-eighth out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the San Diego Metro Area market, rising 19.4% since December 2011, 6.5 percentage points less than the 25.8% increase in the national average. Demand for industrial properties also increased by 28.1% over the past year. The yearly change ranks the San Diego Metro Area twenty-first out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the San Diego Metro Area market, rising 26.2% since December 2011, 0.9 percentage points more than the 25.3% increase in the national average. Demand for retail properties also increased by 16.8% over the past year. The yearly change ranks the San Diego Metro Area fortieth out of the top 48 metros.

Over the past two months, office properties has seen a steady increase of 2% available in square footage in the metro area. This was insufficient to offset the 17.3% decrease of the past year. The available square footage for office properties has risen 0.5% versus last quarter. But for the year, square footage is down 17.3%.

The month-over-month rise in available square footage for industrial properties is now in its second month, representing a 0.9% increase, but is insufficient to offset the decline of 9.6% over the past year. The available square footage for industrial properties has risen 0.2% versus last quarter. But for the year, square footage is down 9.6%.

There has been a three month upward trend in available square footage for retail properties, representing a 1.1% upward trend, but it was not enough to offset the 11.7% decline seen in the past year. The available square footage for retail properties has risen 0.8% versus last quarter. But for the year, square footage is down 11.7%.

Office properties in the San Diego Metro Area are turning over faster than the same time last year, as the days on market slid 9.2% to 220 days. In California overall, the time on market fell even more as a percentage, by 16.1%, to 183. Metro days on market is down 22.2% from its highest point in August 2009.

The time on market for industrial properties in the San Diego Metro Area is down 50.7% from last year, to 135 days. Over the same period, days on market in California overall have fallen by 25.5%. This month marks a new low for days on market in the metro area.

The time on market for retail properties in the San Diego Metro Area is 235 days, down by 21.7% from last year. During the same period, days on market in California have dropped 14.5%. Compared with April 2009, when the time on market was at its lowest, these properties are now on the market 32.6% longer.