Kissimmee, FL Market TrendsBETA

The average asking price for multifamily properties in the metro area was $47,912 per unit for the month. This is down 2% from the previous year, and down 9.6% from the end of the fourth quarter of 2011. Asking prices for multifamily properties are the lowest they have been in three years. The previous three-year low was in April 2011 at $48,810.

For office properties in the metro area, the average asking price was $137.09 per square foot for the month. This shows a drop of 13% year-over-year, and a decline of 2.9% from the end of the fourth quarter of 2011. Asking prices for office properties hit a new three-year low this month. The previous three-year low was last month at $138.33.

For industrial properties in the metro area, the average asking price was $65.14 per square foot for the month. This shows a drop of 13.1% year-over-year, and a decline of 2.8% from the end of the fourth quarter of 2011. This month, asking prices for industrial properties have fallen to a new three-year low. Prior to this, the record three-year low was last month at $65.61.

The average asking price for retail properties in the metro area was $159.67 per square foot for the month. This represents a decrease of 4.7% year-over-year as well as a decrease of 0.1% compared to the end of the fourth quarter of 2011. Asking prices for retail properties reached a three-year high in April 2006 at $268.15 per square foot. The current median asking price is 38% lower. The lowest asking price over the past three years was $159.46 in February 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 10.3% to $31,249 per unit. The three-year-high in median sale price was set in August 2009 at $73,473. The current median sale price is 57.5% lower. However, the current price is 15.1% higher than the three-year-low of $27,142, which was set in October 2011. This is the sixth straight month that the median sale price for multifamily properties has climbed.

The median sale price per square foot for office properties in the metro area has fallen 3.5% in the past three months. Prior to that, there was a rising streak of five months ending in January, when sale prices rose 7.6%. Sale prices per square foot for office properties are $101.01, representing a 3.2% decrease from the end of the prior quarter. The average sale price for the preceding 12 months has dropped by 8.5%. Over the past three years, the median sale price reached its highest of $172.17 in April 2009. In comparison, the current median sale price is down by 41.3%. However, the current price is 3.8% higher than the three-year-low set in September 2011.

Sale prices per square foot for industrial properties dipped to $45.69, a 9.7% decrease compared with the end of the prior quarter. Similarly, over the previous year, sale prices have dropped by 8.6%. This month marks the fourth consecutive month that the median sale price for industrial 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 $50.60. The median sale price for this month marks a three-year low. The previous low of $46.01 was set in August 2011.

The median sale price per square foot for retail properties in the metro area has been rising for two straight months, climbing 2.7% during that time. Prior to that, sale prices fell 10.5% over a five-month period ending in February. At $95.34, sale prices per square foot for retail properties have decreased by 0.7% compared to the end of the prior quarter. Sale prices are also down for the last 12 months, showing a 9.1% decrease. The highest median price of the past three years was set in April 2009 at $157.18. In comparison, the median sale price is now 39.3% lower. However, the current price is 2.7% above the lowest price of the past three years, which was set in February 2012.

For three consecutive months, the number of multifamily properties available has seen a month-over-month decline, 9% overall. This month, the number of multifamily properties available in the Orlando Metro Area fell, hitting its lowest point in three years. May 2010 marked the previous low. The number of available multifamily properties has fallen by 14.1% over the last year in the Orlando Metro Area.

The number of office properties available in the metro area has fallen four months in a row, declining 3.7% in that time. However, this did not offset the increase of 0.5% over the past year.

Available industrial for sale have been on the rise for the past two months month-over-month, a 0.5% increase overall. This, however, has yet to offset the 11.1% drop seen in the past year.

The number of retail properties available in the metro area has fallen three months in a row month-over-month, declining 1.3%. Over the past year, the number of retail properties available has dropped by 1.6% in the Orlando Metro Area.

Interest on LoopNet for multifamily properties listed in the Orlando Metro Area market has risen 1.7% since December 2011, 15.8 percentage points less than the 17.5% increase in the national average. Similarly, demand rose 2.1% over the past year. The yearly change ranks the Orlando Metro Area thirty-fifth out of the top 48 metros.

Demand on LoopNet for office properties spiked in the Orlando Metro Area market, rising 19.1% since December 2011, 2.7 percentage points less than the 21.8% increase in the national average. Demand for office properties also increased by 19.6% over the past year. The yearly change ranks the Orlando Metro Area thirty-second out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the Orlando Metro Area market, rising 32.6% since December 2011, 10.2 percentage points more than the 22.4% increase in the national average. Demand for industrial properties also increased by 28.8% over the past year. The yearly change ranks the Orlando Metro Area seventeenth out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the Orlando Metro Area market, rising 38.6% since December 2011, 18.9 percentage points more than the 19.6% increase in the national average. Demand for retail properties also increased by 25.7% over the past year. The yearly change ranks the Orlando Metro Area twentieth out of the top 48 metros.

Over the past 13 months, office properties have seen a steady increase in available square footage for sale in the metro area. Square footage for office properties has risen 1.1% versus the end of last quarter. For the year, square footage is up 16.6%. The square footage available for sale for office properties in the metro area has risen 16.6% over the past year. The rise in supply, combined with the drop in days on market, makes it seem that market conditions are bringing buyers back in. The rise in supply also seems to be putting downward pressure on sale prices, which could be why they have fallen lately.

There has been a two month upward trend month-over-month in available square footage for sale for industrial properties. The square footage available for sale for industrial properties in the metro area has risen 0.4% 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.

This is the third consecutive month that square footage available for sale has declined month-over-month for retail properties. The square footage available for sale for retail properties in the metro area represents a 3.4% 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.

The number of units available for sale in the metro area has fallen consecutively for the past 12 months for multifamily properties. 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 has fallen 33.4% 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.

Over the past year, the time that multifamily properties stay on the market in the Orlando Metro Area has declined 19.6% to 117 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 21.4%, to 139. Compared with December 2009, when days on market was at its highest, they've now fallen 44.6%. Days on market for multifamily properties has been on an upward climb over the past six months.

Days on market for office properties in the Orlando Metro Area fell 19.8% from last year, to 245 days. At the state level, time on market has fallen by 3.5% during the same time period. From the lowest point, which was set in June 2009, time on market has risen 34.1%.

The time on market for industrial properties in the Orlando Metro Area is down 9.2% from last year, to 262 days. Overall in Florida the time on market has dropped by 1.9% during the same time period. Compared with April 2009, when time on market was its shortest, it has climbed 44%.

Retail properties in the Orlando Metro Area stay on the market for 148 days, which is 38.9% shorter than last year. Over the same period, days on market in Florida overall have fallen by 19.4%. This month, days on market in the metro area fell to a new lowest point.

Asking lease rates for office properties hit a three-year peak in June 2007 at $20.48 per square foot. In comparison, the current median asking price is down by 13.8%. On the other hand, the lowest asking lease rate in the past three years was seen in August 2011 at $15.64.

The average asking lease rate for industrial properties in the metro area was $6.06 per square foot for the month. This is down 0.5% from the previous year, and down 0.8% from the end of the fourth quarter of 2011. In May 2007, the asking rates for industrial properties were at their highest in the past three years at $8.80 per square foot. The current median asking lease rate is 16.5% lower. The lowest asking lease rate in the past three years was $6.04 set in September 2011.

For retail properties in the metro area, the average asking lease rate was $15.06 per square foot for the month. This represents a decrease of 4.5% year-over-year as well as a decrease of 0.9% compared to the end of the fourth quarter of 2011. Lease rates for retail properties have fallen to a new three-year low this month. The previous three-year low was last month at $15.08.

The number of office spaces available in the Orlando Metro Area has fallen 5.1% over the past year.

There has been a two month drop in the number of industrial spaces available month-over-month in the metro area, representing a 1.6% downward movement. The number of industrial spaces available in the Orlando Metro Area has fallen 2.8% over the past year.

The number of retail properties for lease in the metro area has been rising three months in a row month-over-month, moving up 0.9% in that time. However, this has yet to offset the drop of 0.1% over the past year.

Demand on LoopNet for office properties spiked in the Orlando Metro Area market, rising 31.7% since December 2011, three percentage points more than the 28.8% increase in the national average. Demand for office properties also increased by 23.3% over the past year. The yearly change ranks the Orlando Metro Area thirty-seventh out of the top 48 metros.

Demand on LoopNet for industrial properties spiked in the Orlando Metro Area market, rising 18% since December 2011, 7.9 percentage points less than the 25.8% increase in the national average. Demand for industrial properties also increased by 19.7% over the past year. The yearly change ranks the Orlando Metro Area thirty-ninth out of the top 48 metros.

Demand on LoopNet for retail properties spiked in the Orlando Metro Area market, rising 31.8% since December 2011, 6.5 percentage points more than the 25.3% increase in the national average. Demand for retail properties also increased by 24.1% over the past year. The yearly change ranks the Orlando Metro Area twenty-third out of the top 48 metros.

The square footage available for office properties in the metro area decreased 2.3% year-over-year and 2.2% compared to the end of the fourth quarter of 2011. The current square footage available reflects a 2.3% fall in the metro area over the past year.

The available square footage in the metro area has been rising three months in a row month-over-month for industrial properties, a 0.8% increase. However, this has yet to offset the drop of 11.4% over the past year.

There has been a two month upward trend in available square footage for retail properties, representing a 1.3% upward trend, but it was not enough to offset the 2.1% decline seen in the past year.

Days on market for office properties in the Orlando Metro Area fell 8% from last year, to 248 days. During the same period, days on market in Florida have dropped 5.3%. From October 2010, when the time on market was at its highest, it has fallen 19.4%.

Industrial properties in the Orlando Metro Area are turning over faster than the same time last year, as the days on market slid 10.1% to 276 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 13.7%, to 248. Compared with April 2009, when the time on market was at its lowest, these properties are now on the market 26.7% longer.

The time on market for retail properties in the Orlando Metro Area has fallen 5.9% from last year, to 283 days. In Florida overall, the time on market fell even more as a percentage, by 10.7%, to 272. From August 2011, when the time on market was at its longest, it has come down 17.1%.