Industrial Property Asking Price Index - Sale Trends
Office Property Asking Price Index
- Sale Trends Jul 12 vs. 3 mo. prior Y-O-Y
- State $130.28 -0.8% -8.4%
- Metro $181.26 -0.4% -4.5%
- County $206.19 +1.2% -4.5%
Asking prices for office properties have gone up versus past quarter, rising 0.1% to $181.26 per square foot. But for the year asking prices have dropped 4.5%. Asking prices for office properties hit a three-year peak in November 2007 at $272.67 per square foot. The current median asking price is 19.8% lower. The lowest asking price over the past three years was $181.04 in June 2012. Industial Property Asking Price Index Jul 12 vs. 3 mo. prior Y-O-Y - State $69.05 -1.2% -8.9% - Metro $92.47 -0.7% -6.5% - County $92.89 -0.2% -5.7% - City $127.48 +0.4% -0.7% The average asking price for industrial properties in the metro area was $92.47 per square foot for the month. This shows a drop of 6.5% year-over-year, and a decline of 0.3% from the end of the second quarter of 2012. Asking prices for industrial properties have fallen to a new three-year low this month. The previous three-year low was last month at $92.77.
Industrial Property Sale Prices - Sale Trends
| Jul 12 | vs. 3 mo. prior | Y-O-Y | |
|---|---|---|---|
-
State | $53.89 | -0.2% | -0.4% |
-
Metro | $66.19 | +2.1% | +3.2% |
Sale prices per square foot for industrial properties rose to $66.19, a 1.2% increase compared with the end of the prior quarter. Sale prices have seen an increase of 3.2% for the previous year. The highest median sale price over the past three years, which was $85.51, was set in August 2009. In comparison, the median sale price is now 22.6% lower. However, the current price is 7.4% higher than the October 2011 figure, which was the three-year low. This is the fourth month in a row that the median sale price for the metro industrial properties has increased. When the streak started in April 2012, the median sale price was $64.28.
