March 4, 2014

The Metro Phoenix Apartment Market (Q4 2013)

By | 2017-10-04T14:30:14+00:00 March 4th, 2014|

We were fascinated by the year-end 2013 metro-Phoenix apartment sales numbers.  Maybe fascinated isn’t really the right word; but the numbers are interesting and very encouraging considering the last four years.  During 2013, there were 285 sales of apartments with 10 or more units.  182 of these sales had between 10 [...]

March 4, 2014

Qtr4 2014 – Average Rental Rates

By | 2017-10-04T14:30:14+00:00 March 4th, 2014|

For 50 - 99 unit size apartment’s, rental rates continue their steady increase while the 100+ unit’s rates are still flat. The highest rents being in Central Phoenix / Sky Harbor and the lowest along the I-17 corridor. Size         Studio                  One Bedroom      Two Bedroom 50 - 99    $490 (1.14/sf)      $588 (0.94/sf)      [...]

March 4, 2014

4th Qtr 2014 – New Construction & Permitting

By | 2017-10-04T14:30:14+00:00 March 4th, 2014|

In Q4, there were four new apartment projects started (966u), three in Phoenix and one in Scottsdale.  There are a total of 20 now under construction representing 3,785 units.  Nine  projects were completed in Q4 totaling 1,914 units.  These included three in Scottsdale (388u, 325u and 264u) two projects in Phoenix [...]

March 4, 2014

4th Qtr 2013 – Vacancy Rates Continue to Drop

By | 2017-10-04T14:30:14+00:00 March 4th, 2014|

Vacancy rates for the 4th quarter for stabilized 50+ multifamily properties decreased from 7.4% to 7.3%.  Only one sub-district remains in double digits - Central Black Canyon. Vacancy rates of less than 6% were reported in N Scottsdale, Deer Valley, Paradise Valley, Ahwatukee, S Tempe, Gilbert and Chandler.  Vacancy rates for [...]

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