The document is a quarterly industry and economic report from American River Bank analyzing trends in Sonoma County, California over the past 6-8 quarters. It finds that office vacancy rates are high at 23.5% while retail is lower at 5.1%. Industrial vacancy is 12.3%. Home inventory is high at 70 months while average days on market and home sale prices are down. The unemployment rate has fallen to 6.1% and 7,000 jobs were added recently, but more sustained growth is needed before determining if the economic recovery will continue.

1. CommercialRealEstate
OFFICE
23.5%
VACANCY RATE
$1.54/SF
AVERAGE LEASE RATE
RETAIL
5.1%
VACANCY RATE
$1.12/SF
AVERAGE LEASE RATE
Office property reported a negative
absorption in two of the last six
quarters.
Retail property reported positive
absorption in each of the past
three quarters.
INDUSTRIAL
12.3%
VACANCY RATE
$0.66/SF
AVERAGE LEASE RATE
Industrial property reporteda
negative absorptioninthree of
the last six quarters.
ResidentialRealEstate
70 MONTHS OF
INVENTORY
AVG DAYS
ON MARKET
30%HOME SALE
PRICES
Employment
6.1%UNEMPLOYMENT RATE
3YRLOW
7,000JOBS ADDED
Sources: Voit Real Estate Services market reports,
Keegan & Coppin Company, Inc., Trulia Real Estate
Search, Foreclosure Radar, the State of California
AmericanRiverBank.com
Each quarter, management at American River Bank prepares an industry and economic report for internal
use that analyzes the past six to eight rolling quarters in Sonoma County. In general, results in the first
two quarters of 2013 show positive trends. While these positive trends are encouraging, ongoing tangible
signs of sustained growth are required before management can determine the viability of the economic
recovery in Sonoma.
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