Phoenix, AZ Market Trends

Looking for more information on sold properties? Get the critical details you need on recent commercial property transactions days after the close of sale.

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Multifamily Property Asking Price Index - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
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State
$55,021.31 +3.7% +8.7%
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Metro
$62,790.41 +6.2% +15.0%
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County
$66,700.25 +6.1% +16.3%
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City
$65,638.78 +6.4% +16.4%

Current Phoenix market trends data indicates an increase of +6.4% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +16.4% compared to last year's prices. County-wide, asking prices for Multifamily properties are 6.1% higher at $66,700 per unit compared to the current median price of $65,639 per unit for Multifamily properties in Phoenix, AZ.

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Office Property Asking Price Index - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
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State
$141.46 +3.1% +6.1%
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Metro
$145.69 +3.6% +6.7%
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County
$146.06 +3.2% +6.0%
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City
$129.30 +2.9% +6.3%

Current Phoenix market trends data indicates an increase of +2.9% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +6.3% compared to last year's prices. County-wide, asking prices for Office properties are 3.2% higher at $146 per sq ft compared to the current median price of $129 per sq ft for Office properties in Phoenix, AZ.

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Industrial Property Asking Price Index - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
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State
$84.67 +3.8% +6.1%
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Metro
$92.68 +3.8% +6.4%
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County
$95.43 +3.3% +6.1%
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City
$86.07 +3.3% -2.7%

Current Phoenix market trends data indicates an increase of +3.3% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -2.7% compared to last year's prices. County-wide, asking prices for Industrial properties are 3.3% higher at $95 per sq ft compared to the current median price of $86 per sq ft for Industrial properties in Phoenix, AZ.

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Retail Property Asking Price Index - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
State
$147.98 +1.3% +5.6%
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Metro
$165.46 +2.3% +8.0%
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County
$179.06 +2.4% +7.5%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
19 +40.6% +1.9%

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Office Property Total $ Available For Sale - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
17 -0.3% +7.5%

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Industrial Property Total $ Available For Sale - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
22 +2.2% +4.9%

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Retail Property Total $ Available For Sale - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
33 +9.7% +26.1%

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Multifamily Property No. of Listings - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
22 +5.3% -9.5%

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Office Property No. of Listings - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
32 +0.4% -0.7%

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Industrial Property No. of Listings - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
35 +2.6% -7.9%

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Retail Property No. of Listings - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
44 +3.3% +11.6%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
125 +16.6% -8.3%

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Office Property Profile Views (Demand) - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
93 +16.0% +8.3%

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Industrial Property Profile Views (Demand) - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
109 +28.1% +19.3%

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Retail Property Profile Views (Demand) - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
106 +6.0% -2.6%

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Office Property Total SF Available - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
32 +4.8% +7.3%

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Industrial Property Total SF Available - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
36 +7.7% +4.9%

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Retail Property Total SF Available - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
41 +1.1% +15.4%

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Multifamily Property No. of Units For Sale - Sale Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
23 +39.0% -10.8%

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Office Property Asking Rent - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
State
$17.86 +1.3% +2.5%
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Metro
$18.31 +1.7% +3.6%
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County
$18.45 +1.7% +3.8%
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City
$18.62 +1.7% +4.9%

The average asking rental rate per sq ft/year for Office properties in Phoenix, AZ as of Apr 16 was $18.62. This represents an increase of 1.7% compared to the prior 3 months, with an increase of +4.9% year-over-year. County-wide, average rental rates in Phoenix are +1.7% higher at $18.45 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
State
$7.70 +1.0% +4.4%
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Metro
$7.81 +1.3% +4.8%
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County
$7.88 +1.3% +4.7%
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City
$7.61 +1.2% +5.4%

The average asking rental rate per sq ft/year for Industrial properties in Phoenix, AZ as of Apr 16 was $7.61. This represents an increase of 1.2% compared to the prior 3 months, with an increase of +5.4% year-over-year. County-wide, average rental rates in Phoenix are +1.3% higher at $7.88 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
State
$13.63 +0.2% +0.1%
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Metro
$13.59 +0.4% +0.7%
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County
$13.76 +0.3% +0.2%
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City
$13.06 -0.5% -2.5%

The average asking rental rate per sq ft/year for Retail Commercial properties in Phoenix, AZ as of Apr 16 was $13.06. This represents a decrease of -0.5% compared to the prior 3 months, with a decrease of -2.5% year-over-year. County-wide, average rental rates in Phoenix are +0.3% higher at $13.76 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
49 -0.2% -3.3%

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Industrial Property No. of Spaces - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
43 -0.9% -9.4%

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Retail Property No. of Spaces - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
58 +2.6% +3.4%

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Office Property Profile Views (Demand) - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
156 +15.2% -9.3%

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Industrial Property Profile Views (Demand) - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
171 +24.1% +12.2%

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Retail Property Profile Views (Demand) - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
163 +17.0% +0.8%

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Office Property Total SF Available - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
43 -3.7% -9.9%

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Industrial Property Total SF Available - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
38 +1.9% -1.3%

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Retail Property Total SF Available - Lease Trends

  Apr 16 vs. 3 mo. prior Y-O-Y
-
Metro
51 +1.0% +7.4%