Asking prices for multifamily properties have risen 3.9% versus the end of last quarter to $32,859 per unit. For the year, asking prices have gone up 4.3%. Asking prices for multifamily properties hit a three-year peak in January 2009 at $64,598 per unit. The current median asking price is 49.1% lower. The lowest asking price over the past three years was $30,780 in July 2011.

For office properties in the metro area for the month, the average asking price was $131.75 per square foot. This represents a decrease of 14.4% year-over-year as well as a decrease of 2.3% compared to the end of the third quarter of 2011. This month, asking prices for office properties have fallen to a new three-year low. Prior to this, the record three-year low was last month at $131.98.

For industrial properties in the metro area for the month, the average asking price was $77.23 per square foot. This shows a drop of 10.9% year-over-year, and a decline of 2.3% from the end of the third quarter of 2011. Asking prices for industrial properties hit a new three-year low this month. The previous three-year low was $77.84, set last month.

The average asking price for retail properties in the metro area for the month was $151.38 per square foot. This is down 1.6% from the previous year, and down 0.7% from the end of the third quarter of 2011. In January 2009, the asking prices for retail properties were at their highest in the past three years at $229.91 per square foot. In comparison, the median asking price is now 34.2% lower. On the other hand, the lowest asking price in the past three years was seen in May 2011 at $147.53.

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 November and the lows come around May. Over the past year sale prices have fallen 22.7% to $26,357 per unit. The median sale price per unit for multifamily properties in the metro area has climbed 6.5% over the past seven months. Prior to that, sale prices fell 34.6% over a 10-month period ending in June. Over the past three years, the median sale price reached its highest of $57,229 in January 2009. The current median sale price is 53.9% lower. However, the current price is 6.5% above the three-year-low of $24,754 set in June 2011.

Though the median sale price per square foot for office properties in the metro area has been falling for four straight months, the decline has slowed in the last month. At $69.26, sale prices per square foot for office properties have decreased by 4.9% compared to the end of the prior quarter. Sale prices are also down for the year, showing a 31.4% decrease. The metro median sale price hit a three-year low this month. The previous low was $69.65, set last month.

The median sale price per square foot for industrial properties in the metro area has risen 5.1%. There was a 55.7% decline earlier this year during a 31-month period ending in July. Compared to last quarter, the average sale price per square foot for industrial properties rose by 3.4% to $52.75. But for the year, sale prices are down, showing a 17.6% decline. The highest median sale price over the past three years was $113.21, which was set in January 2009. In comparison, the current median sale price is down by 53.4%. However, the current price is 5.1% higher than the three-year-low of $50.20, which was set in July 2011.

In the past five months, the median sale price per square foot for retail properties in the metro area has gone up 14.1%. Earlier, there was a 24-month period that ended in August when sale prices fell 56.2%. For retail properties, the average sale price per square foot has risen to $98.20, a 13.8% increase compared to the end of last quarter. For the year, however, sale prices are down 15.3%. Over the past three years, the median sale price was at its highest in September 2009 at $196.70. The current median sale price is 50.1% lower. However, the current price is 14.1% above the lowest price of the past three years, which was set in August 2011.

This is the second straight month of a decline in total dollar volume for multifamily properties available in the metro area. This was not enough to offset the increase of 37.5% seen over the year.

This is the fourteenth straight month of month-over-month decline in total dollar volume for office properties available in the metro area. The total dollar volume of office properties available slumped by 30.4% over the past year.

The total dollar volume for industrial properties available in the metro area has fallen for three months in a row month-over-month. The metro area has seen a decline of 16.9% in total dollar volume of industrial properties available in the last year.

For the past four months, total dollar volume for retail properties has been declining month-over-month. In the past year, total dollar volume of retail properties available has fallen by 10.1%.

For two consecutive months, the number of multifamily properties available has seen a month-over-month decline, 1% overall. In the past year, the Phoenix Metro Area has seen a 24.8% decline in the number of available multifamily properties.

This is the fourteenth month of a month-over-month downward trend in available office properties in the metro area, a 21.9% decline. The number of office properties available has fallen in December, reflecting a new three-year low in the Phoenix Metro Area. Last month marked the previous low. In the past year, the Phoenix Metro Area has seen a 21.2% decline in the number of available office properties.

There has been a three month drop in the number of industrial properties available month-over-month in the metro area, representing a 0.9% downward movement. The number of industrial properties available in the Phoenix Metro Area has fallen 5.7% over the past year.

Available retail properties have fallen for the past 10 months month-over-month, a 13% decline. This month, the number of retail properties available in the Phoenix Metro Area fell, hitting its lowest point in three years. Previously, retail properties available was at its lowest last month. There has been a 13.7% drop in available retail properties over the past year in the Phoenix Metro Area.

Interest on LoopNet for multifamily properties listed in the Phoenix Metro Area market is down 8.8% over the past year and fell -17 percentage points compared with the increase in the national average. This change ranks fortieth out of the top 48 metros.

The year-over-year 0.4% rate of growth of interest in office properties listed as for sale in the Phoenix Metro Area market on LoopNet was 21 percentage points below the national rate of growth over the same period. This change ranks forty-fifth out of the top 48 metros, putting Phoenix Metro Area in the bottom 10%.

The year-over-year 2.5% rate of growth of interest in industrial properties listed as for sale in the Phoenix Metro Area market on LoopNet was 21.7 percentage points below the national rate of growth over the same period. This change ranks forty-sixth out of the top 48 metros, putting Phoenix Metro Area in the bottom 10%.

Interest in retail properties listed in the Phoenix Metro Area market on LoopNet increased 1.5% during the past year, 19.5 percentage points less than the increase in the national average. This change ranks forty-sixth out of the top 48 metros, putting Phoenix Metro Area in the bottom 10%.

This is the fourteenth consecutive month that square footage available for sale has declined month-over-month for office properties. The square footage available in the metro area hit a new three-year low this month. Previously, last month set the low mark. The square footage available for sale marks a 19.7% 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.

The square footage available for sale in the metro area has fallen consecutively for the past two months for industrial properties. Industrial properties in the metro area have seen a 5.2% 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. 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.

For the past five months, available square footage for sale has declined month-over-month for retail properties. The current square footage available for sale reflects a 2.3% fall in the metro area 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 for multifamily properties in the metro area has risen 2.9% over the past year. 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.

Days on market for multifamily properties in the Phoenix Metro Area fell 12.4% from last year, to 94 days. At the state level, time on market has fallen by 0.1% during the same time period. This month, time on market for these properties hit a new low point.

Office properties in the Phoenix Metro Area are staying on the market longer than they did during the same time last year, and the change is greater than that at the state level. They now last 224 days on the market at the metro level, an increase of 4% year-over-year. In comparison, these buildings last 219 days at the state level, 2.3% longer than last year. Compared with January 2009, when time on market was its shortest, it has climbed 22.2%.

Industrial properties in the Phoenix Metro Area stay on the market for 232 days, which is 5.8% shorter than last year. During the same period, days on market in Arizona have dropped 1.6%. Compared with January 2009, when the time on market was at its lowest, these properties are now on the market 31.7% longer.

The time on market for retail properties in the Phoenix Metro Area is down 24.9% from last year, to 122 days. Overall in Arizona the time on market has dropped by 24% during the same time period. Compared with the highest time on market set in June 2010, these properties are now turning over 30.2% faster.

The average asking lease rate for office properties in the metro area for the month was $17.00 per square foot. This is down 3.8% from the previous year, and down 0.7% from the end of the third quarter of 2011. In January 2009, the lease rates for office properties were at their highest in the past three years at $20.94 per square foot. In comparison, the median asking price is now 18.8% lower. On the other hand, the lowest asking lease rate in the past three years was seen in November 2011 at $16.91.

The average asking lease rate for industrial properties in the metro area for the month was $6.66 per square foot. This is down 2.1% from the previous year, and down 1.1% from the end of the third quarter of 2011. Lease rates for industrial properties reached a three-year high in January 2009 at $8.97 per square foot. The current median asking lease rate is 25.7% lower. The lowest asking lease rate in the past three years was $6.66 set in November 2011.

For retail properties in the metro area for the month, the average asking lease rate was $14.75 per square foot. This shows a drop of 7.2% year-over-year, and a decline of 1% from the end of the third quarter of 2011. Asking lease rates for retail properties are the lowest they have been in three years. Prior to this, the record three-year low was last month at $14.80.

The number of office properties for lease has seen a month-over-month rise of 0.7% over two consecutive months but has yet to offset the decline of 1.9% over the past year.

This is the ninth month of a month-over-month downward trend in available industrial spaces in the metro area, a 8.3% decline. This was insufficient to offset the 2.8% climb seen over the past year.

The number of retail spaces for lease has seen a month-over-month rise of 4.5% over three consecutive months. This month in the Phoenix Metro Area, retail spaces available hit a new three-year high. Retail spaces available was at its previous high in May 2011. The number of available retail spaces has risen by 10.3% in the Phoenix Metro Area over the past year.

The year-over-year 11.8% rate of growth of interest in office properties listed as for sale in the Phoenix Metro Area market on LoopNet was 20.7 percentage points below the national rate of growth over the same period. This change ranks forty-eighth out of the top 48 metros, putting Phoenix Metro Area in the bottom 10%.

The year-over-year 6.6% rate of growth of interest in industrial properties listed as for sale in the Phoenix Metro Area market on LoopNet was 24.3 percentage points below the national rate of growth over the same period. This change ranks forty-eighth out of the top 48 metros, putting Phoenix Metro Area in the bottom 10%.

Interest in retail properties listed in the Phoenix Metro Area market on LoopNet increased 32.5% during the past year, which was 4.3 percentage points more than the increase in the national average. This change ranks fourteenth out of the top 48 metros.

The square footage available in the metro area is in an eight month downward trend month-over-month for office properties. A new three-year low in available square footage was reached during the month of December. Previously, in January 2010, the low mark was set. The square footage available marks a 2.4% decline over the past year.

The available square footage in the metro area has been rising two months in a row month-over-month for industrial properties, a 1% increase. However, this has yet to offset the drop of 1.8% over the past year.

The square footage available for retail properties have been on the rise month-over-month for three consecutive months. 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 Phoenix Metro Area is 224 days, down by 4.3% from last year. Overall in Arizona the time on market has dropped by 0.8% during the same time period. Compared with January 2009, when time on market was its shortest, it has now gotten 28.9% longer.

Days on market for industrial properties in the Phoenix Metro Area fell 25.1% from last year, to 167 days. During the same period, days on market in Arizona have dropped 16.7%. This month, days on market in the metro area reached a new low.

Retail properties in the Phoenix Metro Area stay on the market for 240 days, which is 2.6% shorter than last year. Over the same period, days on market in Arizona overall have fallen by 4%. From August 2009, when the time on market was at its longest, it has come down 24.3%.