Phoenix, AZ Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$49,909.01 +3.5% +13.6%
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Metro
$53,774.22 +4.1% +16.7%
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County
$56,403.37 +3.7% +17.3%
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City
$55,138.08 +3.8% +15.5%

Current Phoenix market trends data indicates an increase of +3.8% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +15.5% compared to last year's prices. County-wide, asking prices for Multifamily properties are 3.7% higher at $56,403 per unit compared to the current median price of $55,138 per unit for Multifamily properties in Phoenix, AZ.

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Office Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$132.93 -0.8% +2.2%
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Metro
$136.28 +1.5% +8.5%
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County
$137.49 +1.4% +8.1%
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City
$121.88 +0.7% +9.1%

Current Phoenix market trends data indicates an increase of +0.7% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +9.1% compared to last year's prices. County-wide, asking prices for Office properties are 1.4% higher at $137 per sq ft compared to the current median price of $122 per sq ft for Office properties in Phoenix, AZ.

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Industrial Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$79.94 +0.6% +2.3%
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Metro
$87.12 +1.5% +4.7%
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County
$89.77 +1.3% +5.9%
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City
$87.88 +0.4% +9.1%

Current Phoenix market trends data indicates an increase of +0.4% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +9.1% compared to last year's prices. County-wide, asking prices for Industrial properties are 1.3% higher at $90 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

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$139.11 -1.1% -2.1%
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Metro
$150.92 -1.3% -0.7%
-
County
$163.30 -0.3% +0.3%

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Multifamily Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$47,424.46 +2.0% +13.6%
-
Metro
$47,424.46 +2.0% +13.6%

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Office Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$96.59 +5.6% +15.9%
-
Metro
$96.59 +5.6% +16.0%

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Industrial Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$65.38 +5.1% +11.6%
-
Metro
$65.38 +5.1% +11.6%

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Retail Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$122.65 -0.7% +16.9%
-
Metro
$122.65 -0.7% +16.9%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
18 +8.5% -18.3%

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Office Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
15 -2.4% -18.9%

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Industrial Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
21 +1.9% -17.7%

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Retail Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 +6.7% -21.5%

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Multifamily Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
24 -0.7% -25.6%

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Office Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
32 -0.1% -22.8%

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Industrial Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
37 -4.9% -20.6%

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Retail Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
38 -1.4% -24.0%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
148 +22.4% +16.1%

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Office Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
92 +16.1% +8.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
98 +8.7% +6.3%

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Retail Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
118 +15.4% +1.4%

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Office Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
29 -10.3% -25.7%

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Industrial Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
34 -1.6% -23.6%

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Retail Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
36 +0.6% -21.1%

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Multifamily Property No. of Units For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
25 +3.4% -33.5%

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Multifamily Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
123 -0.3% +12.4%
-
Metro
117 +3.2% +10.7%

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Office Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
240 +4.2% +12.3%
-
Metro
225 +7.5% +14.9%

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Industrial Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
220 +2.6% -2.1%
-
Metro
209 +0.7% +1.5%

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Retail Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
163 +0.4% +3.9%
-
Metro
145 -1.0% -0.4%

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Office Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$17.36 +1.1% +2.4%
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Metro
$17.61 +1.1% +2.6%
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County
$17.70 +1.1% +2.6%
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City
$17.71 +1.6% +3.4%

The average asking rental rate per sq ft/year for Office properties in Phoenix, AZ as of Mar 15 was $17.71. This represents an increase of 1.6% compared to the prior 3 months, with an increase of +3.4% year-over-year. County-wide, average rental rates in Phoenix are +1.1% higher at $17.70 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$7.35 +0.8% +8.0%
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Metro
$7.42 +0.6% +8.8%
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County
$7.50 +0.6% +8.4%
-
City
$7.17 +0.7% +10.0%

The average asking rental rate per sq ft/year for Industrial properties in Phoenix, AZ as of Mar 15 was $7.17. This represents an increase of 0.7% compared to the prior 3 months, with an increase of +10.0% year-over-year. County-wide, average rental rates in Phoenix are +0.6% higher at $7.50 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$13.59 +0.2% -1.2%
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Metro
$13.45 0.0% -2.3%
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County
$13.69 +0.1% -1.4%
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City
$13.40 +2.1% +1.6%

The average asking rental rate per sq ft/year for Retail Commercial properties in Phoenix, AZ as of Mar 15 was $13.40. This represents an increase of 2.1% compared to the prior 3 months, with an increase of +1.6% year-over-year. County-wide, average rental rates in Phoenix are +0.1% higher at $13.69 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
50 -0.3% -21.4%

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Industrial Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -4.7% -27.8%

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Retail Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 +1.8% -23.6%

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Office Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
187 +24.5% +27.8%

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Industrial Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
173 +12.2% +17.4%

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Retail Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
180 +12.7% +4.9%

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Office Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
47 +4.4% -19.1%

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Industrial Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
38 +2.3% -20.9%

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Retail Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
47 +3.5% -26.0%

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Office Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
209 -2.1% +20.2%
-
Metro
203 +1.9% +33.5%

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Industrial Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
172 -7.8% +12.1%
-
Metro
165 -8.6% +18.4%

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Retail Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
259 -9.8% -5.0%
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Metro
233 -11.9% -11.8%