Phoenix, AZ Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$55,201.62 +2.1% +6.4%
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Metro
$63,420.52 +5.2% +13.3%
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County
$67,288.47 +5.4% +14.6%
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City
$66,167.24 +5.3% +13.8%

Current Phoenix market trends data indicates an increase of +5.3% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +13.8% compared to last year's prices. County-wide, asking prices for Multifamily properties are 5.4% higher at $67,288 per unit compared to the current median price of $66,167 per unit for Multifamily properties in Phoenix, AZ.

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Office Property Asking Price Index - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$141.98 +2.1% +6.5%
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Metro
$146.31 +2.5% +7.3%
-
County
$146.67 +2.4% +6.3%
-
City
$129.91 +2.3% +7.0%

Current Phoenix market trends data indicates an increase of +2.3% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +7.0% compared to last year's prices. County-wide, asking prices for Office properties are 2.4% higher at $147 per sq ft compared to the current median price of $130 per sq ft for Office properties in Phoenix, AZ.

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Industrial Property Asking Price Index - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$85.52 +3.9% +7.4%
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Metro
$93.63 +3.8% +8.1%
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County
$96.40 +3.6% +7.8%
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City
$87.17 +4.1% -0.5%

Current Phoenix market trends data indicates an increase of +4.1% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -0.5% compared to last year's prices. County-wide, asking prices for Industrial properties are 3.6% higher at $96 per sq ft compared to the current median price of $87 per sq ft for Industrial properties in Phoenix, AZ.

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Retail Property Asking Price Index - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$148.78 +0.9% +5.2%
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Metro
$166.87 +2.0% +7.7%
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County
$180.29 +1.9% +7.1%

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Multifamily Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$57,741.46 +5.5% +21.0%
-
Metro
$57,741.46 +5.5% +21.0%

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Office Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$105.93 -3.6% -8.6%
-
Metro
$105.93 -3.6% -8.6%

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Industrial Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$67.65 -1.6% +4.4%
-
Metro
$67.65 -1.6% +4.4%

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Retail Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$151.48 +5.2% +23.8%
-
Metro
$151.48 +5.2% +23.8%

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Multifamily Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
20 +40.7% +8.5%

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Office Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
17 -0.1% +2.7%

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Industrial Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
23 +6.4% +4.3%

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Retail Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
34 +10.9% +21.4%

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Multifamily Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
22 +11.2% -8.4%

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Office Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
32 -1.1% -1.2%

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Industrial Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
36 +4.7% -7.5%

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Retail Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
44 +1.7% +8.5%

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Multifamily Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
119 -4.7% -10.0%

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Office Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
89 -5.6% +2.9%

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Industrial Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
108 +5.0% +17.3%

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Retail Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
107 -3.3% -3.2%

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Office Property Total SF Available - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
32 +4.1% +5.0%

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Industrial Property Total SF Available - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
37 +8.1% +4.6%

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Retail Property Total SF Available - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
42 +3.8% +16.7%

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Multifamily Property No. of Units For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
25 +39.1% -1.4%

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Multifamily Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
128 +7.9% +6.6%
-
Metro
112 +4.3% -0.2%

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Office Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
231 +3.7% -4.5%
-
Metro
220 +4.3% -9.4%

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Industrial Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
245 -0.9% +6.6%
-
Metro
258 +5.3% +18.1%

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Retail Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
114 -9.6% -25.1%
-
Metro
95 -17.0% -31.0%

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Office Property Asking Rent - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$17.86 +0.6% +2.5%
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Metro
$18.32 +0.9% +3.6%
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County
$18.46 +0.9% +3.8%
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City
$18.62 +0.8% +4.8%

The average asking rental rate per sq ft/year for Office properties in Phoenix, AZ as of May 16 was $18.62. This represents an increase of 0.8% compared to the prior 3 months, with an increase of +4.8% year-over-year. County-wide, average rental rates in Phoenix are +0.9% higher at $18.46 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$7.71 +0.9% +4.2%
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Metro
$7.82 +1.3% +4.7%
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County
$7.90 +1.3% +4.5%
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City
$7.62 +1.3% +4.7%

The average asking rental rate per sq ft/year for Industrial properties in Phoenix, AZ as of May 16 was $7.62. This represents an increase of 1.3% compared to the prior 3 months, with an increase of +4.7% year-over-year. County-wide, average rental rates in Phoenix are +1.3% higher at $7.90 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$13.66 +0.6% -0.1%
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Metro
$13.62 +0.9% +0.2%
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County
$13.78 +0.7% -0.1%
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City
$13.16 +2.0% -1.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Phoenix, AZ as of May 16 was $13.16. This represents an increase of 2.0% compared to the prior 3 months, with a decrease of -1.2% year-over-year. County-wide, average rental rates in Phoenix are +0.7% higher at $13.78 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
49 -0.8% -3.6%

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Industrial Property No. of Spaces - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
42 -2.5% -11.2%

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Retail Property No. of Spaces - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
58 +1.0% +2.2%

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Office Property Profile Views (Demand) - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
101 -35.2% -41.3%

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Industrial Property Profile Views (Demand) - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
110 -34.9% -28.4%

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Retail Property Profile Views (Demand) - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
110 -31.8% -33.1%

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Office Property Total SF Available - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
42 -5.2% -9.8%

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Industrial Property Total SF Available - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
38 +2.0% -2.3%

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Retail Property Total SF Available - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
52 +2.3% +7.1%

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Office Property Days on Market - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
232 -10.1% +9.1%
-
Metro
226 -11.1% +7.3%

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Industrial Property Days on Market - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
166 -10.9% -0.9%
-
Metro
154 -13.9% -4.6%

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Retail Property Days on Market - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
267 +6.5% +0.8%
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Metro
242 +1.1% -2.4%