ABI Multifamily's 1Q 2015 Quarterly Report organizes all the pertinent data without the extraneous commentary. We believe the facts speak for themselves and pride ourselves on making reports accessible and understandable for all multifamily housing stakeholders.
2. PHOENIX OFFICE | 4715 N 32ND STREET, STE. 105, PHOENIX, AZ 85018 | P: 602.714.1400 | ABIMULTIFAMILY.COM
100+ UNIT PROPERTIES
10 - 99 UNIT PROPERTIES
TOP 3 TRANSACTIONS BY PRICE/UNIT (100+)
Domus
Phoenix, 223 units | $51.55M | $231K/unit | $297.68/sf | Yr. Blt: 2014
Indigo
Phoenix, 101 units | $18.1M | $179K/unit | $143.35/sf | Yr. Blt: 2014
Trillium North
Phoenix, 274 units | $42.49M | $155K/unit | $160.52/sf | Yr. Blt: 2012
1Q 2015 Transactions by Year Built
# of Transactions Avg Price/Unit Avg Price/SF
2010+
2000-09
1990-99
1980-89
Pre-1980
3 $188K $199
5 $134K $142
3 $112K $116
8 $65K $89
8 $40K $64
1Q 2015 Transactions by Year Built
# of Transactions Avg Price/Unit Avg Price/SF
2010+
2000-09
1990-99
1980-89
Pre-1980
0 n/a n/a
2 $180K $135
0 n/a n/a
11 $45K $68
22 $48K $61
TOP 3 TRANSACTIONS BY PRICE/UNIT (10-99)
Dolce Villagio Townhomes
Tempe, 37 units | $7M | $189K/unit | $132.95/sf | Yr. Blt: 2007
Chester Place Lofts
Phoenix, 11 units | $1.65M | $150K/unit | $145.57/sf | Yr. Blt: 2008
Arcadia Park Place
Phoenix, 13 units | $1.3M | $100K/unit | $58.14/sf | Yr. Blt: 1964
2
2000-09
Transaction
=
Total Sales Volume
Price/Unit
Price/SF
Year Built
Effective Rent
Vacancy Rate
$619M
$91,494
$113.49
1989
$846
4.5%
$192M
$69,001
$80.71
1987
$789
5.6%
222%
33%
41%
4 yrs
$57
0.9%
1Q 2015 1Q 2014
AVERAGE
INCREASE/DECREASE
1Q 2015 1Q 2014
Total Sales Volume
Price/Unit
Price/SF
Year Built
Effective Rent
Vacancy Rate
$56M
$52,952
$69.13
1973
$684
5.9%
$53M
$42,347
$57.56
1967
$653
6.6%
5.7%
25%
20%
6 yrs
$31
0.7%
AVERAGE
INCREASE/DECREASE
8
1980-89
8
PRE-19
80
3
2010+
5
2000-09
3
19
90-99
NUMBER OF
TRANSACTIONS
BY YEAR BUILT
11
1980-89
22
PRE-1
980
NUMBER OF
TRANSACTIONS
BY YEAR BUILT
3. PHOENIX OFFICE | 4715 N 32ND STREET, STE. 105, PHOENIX, AZ 85018 | P: 602.714.1400 | ABIMULTIFAMILY.COM
SINGLE FAMILY RESIDENTIAL
NEW INVENTORYMEDIAN AND AVG SALES PRICE
TOTAL INVENTORYFORECLOSURES PENDING
MONTHLY SALES 7,900
+17.7%, YEAR-OVER-YEAR
+31.9%, MONTH-OVER-MONTH
MEDIAN SALES
PRICE $200,000
+7.0%, YEAR-OVER-YEAR MEDIAN
AVG DAYS ON
MARKET 92
+9, YEAR-OVER-YEAR
-3, MONTH-OVER-MONTH
AVG SALES PRICES $256,500
+3.1%, YEAR-OVER-YEAR AVERAGE
FORECLOSURES
PENDING 5,662
-24.2%, YEAR-OVER-YEAR
-0.3%, MONTH-OVER-MONTH
SINGLE FAMILY HOME STATS
YEAR-OVER-YEAR / MONTH-OVER-MONTH COMPARISON
$256,500
10,345
26,483
5,662
$200,000
4. PHOENIX OFFICE | 4715 N 32ND STREET, STE. 105, PHOENIX, AZ 85018 | P: 602.714.1400 | ABIMULTIFAMILY.COM
P H O E N I X M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N E
U N I T S D E L I V E R E D 1 9 9 5 - P R E S E N T | 1 s t Q U A R T E R 2 0 1 5
4,692
6,375 6,294
8,533
6,385
7,261
8,644
7,663
3,281
5,431
3,683
2,751
6,902
5,003
9,315
2,593
615
1,668
3,569
4,527
220*
8,500**
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Average: 5,019
COMPLETED CONSTRUCTION
UNIT COMPLETIONS
CURRENTLY UNDER CONSTRUCTION
PLANNED PROJECTS
Planned
Total # of Units: 15,947
Total # of Properties: 62
Under Construction
Total # of Units: 13,321
Total # of Properties: 56
* = 1Q 2015 UNITS DELIVERED** = ABI 2015 ESTIMATE
5. PHOENIX OFFICE | 4715 N 32ND STREET, STE. 105, PHOENIX, AZ 85018 | P: 602.714.1400 | ABIMULTIFAMILY.COM
PHOENIX MSA EMPLOYMENT AND SELECT NEWS ARTICLESPHOENIX MSA EMPLOYMENT AND SELECT NEWS ARTICLES
Northern Trust | Opening $95M regional operations center in
Tempe | Hiring 1,000
Microsoft to move data operations center to Phoenix Metro
ASU Law School breaks ground on Dowtown Phoenix location |
$129 million | 11,500+ students in downtown Phoenix
GCU continues massive campus expansion | 3,000+ employees and
14,000+ students expected by 2020
General Motors | Hiring 1,000+ IT Professionals, 500 by end of 2014 and
another 500 by 2016
Brings total State Farm Phoenix area employment to 3,000+
Home Depot | Plans to hire 1,500 throughout Phoenix Metro
Apple to spend up to $2 billion on global command center in Mesa
IRIS Ohyama, a Japanese manufacturer, expands into Surprise with
$40M facility | To bring 100+ jobs to the area
Progressive Leasing | Hiring 500+ employees by end of 2015 | Jobs
include: underwriters, collections officers, cust service reps and support
Fry’s is hiring 1,000+ workers across Arizona | Positions include
pharmacy techs, managerial positions and all-purpose clerks
Tallwave and Hansji Corp. launch HighTide @ Luhrs City Center |Tech
incubator which provdes accepted start-ups with rent free office space
Revana, Tempe-based tech firm which specializes in sales software
to expand | 250 jobs at Tempe HQ
APAC adding 1,100 jobs, 700 in Southern Arizona and 400 in
Phoenix, to expand call center solutions platform
Western Maricopa Education Center breaks ground on Buckeye
campus to house up to 650 students with plans to expand to Surprise
Orion Health, a population health management firm, expands
data offerings | To hire up to 200