San Antonio, TX Market Trends

Asking prices for office properties hit a three-year peak in June 2010 at $134.17 per square foot. In comparison, the current median asking price is down by 0.1%. The lowest asking price over the past three years was $126.90 in February 2009.

Asking prices for industrial properties have gone up from the end of last quarter, rising 0.4% to $62.38 per square foot. Asking prices have risen 2.3% on the year.     Asking prices for industrial properties reached a three-year high in January 2011 at $63.84 per square foot. In comparison, the median asking price is now 3% lower. On the other hand, the lowest asking price in the past three years was seen in November 2008 at $60.07.

Retail Property Asking Price Index – Sale Trends

The average asking price for retail properties in the metro area for the month was $119.36 per square foot. This represents a decrease of 5.6% year-over-year as well as a decrease of 1.6% compared to the end of the second quarter of 2011.     Asking prices for retail properties reached a three-year high in March 2009 at $142.87 per square foot. The current median asking price is 14.3% lower. On the other hand, the lowest asking price in the past three years was seen in August 2011 at $119.02.

Multifamily Property Sale Prices – Sale Trends

Office Property Sale Prices – Sale Trends

Industrial Property Sale Prices – Sale Trends

Retail Property Sale Prices – Sale Trends

The current median sale price of $85.81 per square foot represents a decrease of 24.4% over the past year. The three-year-high in median sale price was set in December 2010 at $133.50. The current median sale price is 35.7% lower. However, the current price is 6.1% higher than the three-year-low set in June 2010. The median sale price of metro retail properties has been declining for six consecutive months. Back when the streak began in April 2011, the median sale price was $103.60.

Multifamily Property Total $ Available For Sale – Sale Trends

For four consecutive months, total dollar volume for multifamily properties available has been on the rise month-over-month.     The total dollar volume of multifamily properties available in the metro area has fallen 29.6% over the past year.

Office Property Total $ Available For Sale – Sale Trends

There has been a six month decline in dollar volume for office properties month-over-month.     The metro area has seen a decline of 6.8% in total dollar volume of office properties available in the last year.

The total dollar volume for industrial properties available in the metro area has been rising for three months in a row month-over-month.     The total dollar volume of industrial properties available slumped by 3.9% over the past year.

September marks the fifth month of the increase in total dollar volume for retail properties in the metro area.     The metro area has seen a decline of 3.4% in total dollar volume of retail properties available in the last year.

For two consecutive months, the number of multifamily properties available in the San Antonio Metro Area has seen a month-over-month decline. The number of multifamily properties available has dropped 2.1% over that time.     The number of multifamily properties available in the San Antonio Metro Area has fallen 7.3% over the past year.

This is the fourth straight month of a month-over-month downward trend in available office properties in the San Antonio Metro Area. The number of office properties available has dropped 1.4% over that time.     The number of available office properties has fallen by 3.8% over the last year in the San Antonio Metro Area.

Available industrial properties for sale have been on the rise for the past two months. The number of industrial properties available has risen 0.6% over that time.     The current number of industrial properties available in the San Antonio Metro Area reflects a 2.2% increase over the past year.

Available retail properties for sale have been on the rise for the past two months. The number of retail properties available has risen 0.9% over that time.     The number of available retail properties has fallen by 8.6% over the last year in the San Antonio Metro Area.

Interest on LoopNet for multifamily properties listed in the San Antonio Metro Area market is down 11.1% over the past year and fell -17.1 percentage points compared with the increase in the national average. This change ranks San Antonio Metro Area fortieth out of the top 48 metros.

Interest in office properties listed in the San Antonio Metro Area market on LoopNet increased 22% during the past year, 0.4 percentage points more than the increase in the national average. This change ranks thirty-first out of the top 48 metros.

Interest in industrial properties listed in the San Antonio Metro Area market on LoopNet increased 14% during the past year, which was 12.7 percentage points less than the increase in the national average. This change ranks forty-second out of the top 48 metros.

Interest in retail properties listed in the San Antonio Metro Area market on LoopNet increased 20.3% during the past year, which was 0.5 percentage points more than the increase in the national average. This change ranks twenty-fifth out of the top 48 metros.     Last month was the previous three-year high before this month topped it.

Available square footage for sale in the metro area is in a four month downward trend month-over-month for office properties.     The square footage available for sale for office properties in the metro area has risen 3.4% over the past year.     The drop in supply and the rise in days on market could be an indicator that people are currently holding off putting their properties up for sale in the current economic climate.

Over the past three months, industrial properties have seen a steady increase in available square footage for sale in the metro area.     The square footage available for sale for industrial properties in the metro area has fallen 14.3% over the past year.     Soft market conditions are likely to persist as inventory is staying on the market longer.

There has been a nine month upward trend month-over-month in available square footage for sale for retail properties.     September saw a new three-year high in square footage available in the metro area. Available square footage was at its previous highest in August 2011.     The available square footage for sale for retail properties in the metro area has risen 9.8% over the past year.     The drop in supply and the rise in days on market could be an indicator that people are currently holding off putting their properties up for sale in the current economic climate. The current market conditions are not favorable for buyers or sellers as prices are falling and sellers still do not seem willing to put more properties on the market due to the poor conditions.

Square footage available for sale for multifamily properties have been on the rise month-over-month for five consecutive months.     Multifamily properties in the metro area have seen a 38.5% drop in square footage for sale over the past year.     The drop in both the supply of properties and the average time on market could be a sign that prices are going to move upwards.

The time on market for multifamily properties in the San Antonio Metro Area is 140 days, down by 30.8% from last year. During the same period, days on market in Texas has dropped 2.3%.     From June 2010, when the time on market was at its longest, it has come down 38.1%.

Compared with a year earlier, office properties in the San Antonio Metro Area are taking longer to move, and the change in days on market is greater than that at the state level. They now last 261 days on the market at the metro level, an increase of 13.5% year-over-year. At the same time, days on market for the state level has risen 3.3%, to 221 days.     Compared with March 2009, when the time on market was at its lowest, these properties are now on the market 78% longer.

Compared with a year earlier, industrial properties in the San Antonio Metro Area are staying on the market longer, and the gap is greater at the metro level than at the state level. They are now on the market for 221 days before being sold, 13% longer than last year. For the state, these properties stay on the market for 237 days, up 1.6% from last year.     From the lowest point, which was set in October 2008, time on market has risen 44.7%.

Compared with a year earlier, retail properties in the San Antonio Metro Area are staying on the market longer, and the gap is greater at the metro level than at the state level. Retail properties now stay on the market an average of 200 days, up 7.1% from last year. For the state, these properties are on the market for 170 days, 7.3% less than last year.     From the lowest point, which was set in January 2009, time on market has risen 42.8%.

The average asking lease rate for office properties in the metro area for the month was $17.57 per square foot. This is down 0.5% from the previous year, and down 0.2% from the end of the second quarter of 2011.     Asking rates for office properties hit a three-year peak in January 2009 at $17.93 per square foot. In comparison, the current median asking price is down by 1.7%. The lowest asking lease rate over the past three years was $17.55 in August 2011.

Lease rates for industrial properties reached a three-year high in December 2008 at $7.51 per square foot. In comparison, the median asking price is now 15.9% lower. The lowest asking lease rate in the past three years was $6.23 set in April 2011.

For retail properties in the metro area for the month, the average asking lease rate was $16.03 per square foot. This is down 1.1% from the previous year, and down 2.6% from the end of the second quarter of 2011.     Lease rates for retail properties reached a three-year high in April 2011 at $16.55 per square foot. The current median asking lease rate is 2.3% lower. On the other hand, the lowest asking lease rate in the past three years was seen in March 2010 at $15.30.

There has been a five month drop in the number of office spaces available month-over-month in the San Antonio Metro Area. The number of office spaces available has dropped 2.8% over that time.     Over the past year, the number of office spaces available in the San Antonio Metro Area has gone up by 1.8%.

For five consecutive months, the number of industrial spaces available in the San Antonio Metro Area has seen a month-over-month decline. The number of industrial spaces available has dropped 14.8% over that time.     Over the past year, the number of industrial spaces available has dropped by 17.9% in the San Antonio Metro Area.

The number of retail spaces available in the San Antonio Metro Area has fallen five months in a row month-over-month. The number of retail spaces available has dropped 4.4% over that time.     In the past year, the San Antonio Metro Area has seen a 0.8% decline in the number of available retail spaces.

Interest in office properties listed in the San Antonio Metro Area market on LoopNet increased 26.7% during the past year, 10.5 percentage points less than the increase in the national average. This change ranks thirty-ninth out of the top 48 metros.

The year-over-year 4.2% rate of growth of interest in industrial properties listed as for sale in the San Antonio Metro Area market on LoopNet was 30 percentage points below the national rate of growth over the same period. This change ranks San Antonio Metro Area forty-seventh out of the top 48 metros.

Interest in retail properties listed in the San Antonio Metro Area market on LoopNet increased 26.4% during the past year, 4.7 percentage points less than the increase in the national average. This change ranks thirty-second out of the top 48 metros.

Square footage available for office properties have been on the rise month-over-month for two consecutive months.     The available square footage for office properties in the metro area has risen 3.1% over the past year.

For the past five months, available square footage has declined month-over-month for industrial properties.     Current available square footage reflects a 24.4% fall in the metro area over the past year.

For the past five months, available square footage has declined month-over-month for retail properties.     Available square footage for retail properties in the metro area represents a 6.9% decline over the past year.

The time on market for office properties in the San Antonio Metro Area is down 11.3% from last year, to 287 days. During the same period, days on market in Texas has dropped 8.8%.     Compared with October 2008, when time on market was its shortest, it has now gotten 59.2% longer.

Days on market for industrial properties in the San Antonio Metro Area fell 32.3% from last year, to 186 days. At the state level, time on market has fallen by 9.2% during the same time period.     Compared with the highest time on market set in June 2010, these properties are now turning over 40.7% faster.

The time on market for retail properties in the San Antonio Metro Area is down 14.3% from last year, to 244 days. Overall in Texas the time on market has dropped by 6.4% during the same time period.     From September 2009, when the time on market was at its highest, it has fallen 30.7%.