Phoenix, AZ Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$51,903.93 +5.5% +13.7%
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Metro
$55,980.67 +5.7% +17.2%
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County
$58,703.34 +6.0% +17.6%
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City
$58,129.70 +8.4% +17.0%

Current Phoenix market trends data indicates an increase of +8.4% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +17.0% compared to last year's prices. County-wide, asking prices for Multifamily properties are 6.0% higher at $58,703 per unit compared to the current median price of $58,130 per unit for Multifamily properties in Phoenix, AZ.

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Office Property Asking Price Index - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$133.26 -0.1% +1.8%
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Metro
$136.38 +0.3% +7.0%
-
County
$137.92 +0.5% +7.1%
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City
$121.39 +0.3% +7.4%

Current Phoenix market trends data indicates an increase of +0.3% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +7.4% compared to last year's prices. County-wide, asking prices for Office properties are 0.5% higher at $138 per sq ft compared to the current median price of $121 per sq ft for Office properties in Phoenix, AZ.

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Industrial Property Asking Price Index - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$79.61 +0.5% +2.2%
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Metro
$86.58 +0.4% +4.3%
-
County
$89.44 +0.7% +5.7%
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City
$87.62 +0.6% +8.9%

Current Phoenix market trends data indicates an increase of +0.6% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +8.9% compared to last year's prices. County-wide, asking prices for Industrial properties are 0.7% higher at $89 per sq ft compared to the current median price of $88 per sq ft for Industrial properties in Phoenix, AZ.

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Retail Property Asking Price Index - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$141.44 +1.3% -0.4%
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Metro
$154.94 +2.4% +2.9%
-
County
$168.32 +3.2% +4.7%

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Multifamily Property Sale Prices - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$47,732.91 +0.5% +14.0%
-
Metro
$47,732.91 +0.5% +14.0%

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Office Property Sale Prices - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$115.93 +25.1% +32.5%
-
Metro
$115.93 +25.1% +32.5%

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Industrial Property Sale Prices - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$64.81 -0.1% +14.6%
-
Metro
$64.81 -0.1% +14.6%

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Retail Property Sale Prices - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$122.33 +0.3% +13.2%
-
Metro
$122.33 +0.3% +13.2%

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Multifamily Property Total $ Available For Sale - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
19 +15.9% -26.4%

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Office Property Total $ Available For Sale - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
17 +9.4% -15.3%

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Industrial Property Total $ Available For Sale - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
22 +8.7% -15.5%

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Retail Property Total $ Available For Sale - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
28 +17.0% -13.0%

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Multifamily Property No. of Listings - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
24 +5.8% -26.4%

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Office Property No. of Listings - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
33 +2.1% -22.8%

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Industrial Property No. of Listings - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
39 +5.3% -19.5%

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Retail Property No. of Listings - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
40 +6.8% -24.1%

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Multifamily Property Profile Views (Demand) - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
132 -3.7% +6.6%

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Office Property Profile Views (Demand) - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
86 +2.7% +1.6%

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Industrial Property Profile Views (Demand) - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
92 -0.9% +0.0%

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Retail Property Profile Views (Demand) - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
111 +3.1% +2.0%

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Office Property Total SF Available - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
31 +4.6% -25.8%

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Industrial Property Total SF Available - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
35 +3.3% -23.4%

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Retail Property Total SF Available - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
36 +3.2% -21.9%

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Multifamily Property No. of Units For Sale - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 +7.9% -39.3%

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Multifamily Property Days on Market - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
120 -4.8% +6.8%
-
Metro
112 -5.4% +4.8%

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Office Property Days on Market - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
238 -0.6% +8.9%
-
Metro
240 +8.3% +16.4%

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Industrial Property Days on Market - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
230 +7.9% -1.5%
-
Metro
219 +8.1% +2.3%

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Retail Property Days on Market - Sale Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
153 -6.1% -2.5%
-
Metro
139 -5.2% -1.9%

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Office Property Asking Rent - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$17.41 +0.7% +2.8%
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Metro
$17.69 +0.9% +3.1%
-
County
$17.79 +0.8% +3.1%
-
City
$17.76 +0.7% +4.0%

The average asking rental rate per sq ft/year for Office properties in Phoenix, AZ as of May 15 was $17.76. This represents an increase of 0.7% compared to the prior 3 months, with an increase of +4.0% year-over-year. County-wide, average rental rates in Phoenix are +0.8% higher at $17.79 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$7.40 +0.7% +7.0%
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Metro
$7.47 +0.6% +7.4%
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County
$7.56 +0.7% +7.0%
-
City
$7.28 +1.8% +8.6%

The average asking rental rate per sq ft/year for Industrial properties in Phoenix, AZ as of May 15 was $7.28. This represents an increase of 1.8% compared to the prior 3 months, with an increase of +8.6% year-over-year. County-wide, average rental rates in Phoenix are +0.7% higher at $7.56 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
$13.67 +0.5% -1.0%
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Metro
$13.59 +1.0% -1.5%
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County
$13.80 +0.8% -0.7%
-
City
$13.32 +0.1% +0.9%

The average asking rental rate per sq ft/year for Retail Commercial properties in Phoenix, AZ as of May 15 was $13.32. This represents an increase of 0.1% compared to the prior 3 months, with an increase of +0.9% year-over-year. County-wide, average rental rates in Phoenix are +0.8% higher at $13.80 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
51 +1.0% -22.7%

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Industrial Property No. of Spaces - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -1.9% -28.6%

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Retail Property No. of Spaces - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 +1.9% -23.3%

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Office Property Profile Views (Demand) - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
173 +5.5% +18.8%

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Industrial Property Profile Views (Demand) - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
153 -6.0% +2.7%

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Retail Property Profile Views (Demand) - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
165 -0.9% -2.3%

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Office Property Total SF Available - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
47 +2.2% -21.7%

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Industrial Property Total SF Available - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
39 +1.0% -16.3%

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Retail Property Total SF Available - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
Metro
49 +5.6% -25.5%

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Office Property Days on Market - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
211 +2.1% +12.6%
-
Metro
208 +4.0% +22.8%

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Industrial Property Days on Market - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
172 -1.0% -4.8%
-
Metro
163 -0.8% -3.5%

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Retail Property Days on Market - Lease Trends

  May 15 vs. 3 mo. prior Y-O-Y
-
State
266 -1.4% -3.2%
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Metro
250 +4.6% -8.1%