Gallelli MARKET REPORTS
As of the close of Q1 2023, overall shopping center vacancy in the Sacramento region stood at 8.0%. This is up from the 7.6% rate recorded at the close of 2022, as well as the 7.3% mark posted exactly one year ago. The market experienced -228,000 square feet (SF) of negative net absorption (occupancy) declines over the first three months of 2023.
Q1 Report
2022 was another strong year for retail commercial real estate in the Sacramento region with an overall vacancy rate at 7.7% to close out the 4th quarter. With continued robust demand and nominal new construction, we have experienced positive net absorption and a relatively tight retail market. Despite Federal Reserve rate hikes, consumer spending in the region was still strong with retailers overall performing well in 2022.
Q4 Report Q3 Report Q2 Report Q1 ReportAs of the close of Q1 2023, overall office vacancy in the Sacramento region stood at 15.2%. This reflects an increase from the 14.7% rate posted three months ago and the 13.9% level of one year ago. The market recorded negative net absorption to the tune of -324,000 square feet (SF) over the first three months of the year, continuing the trend that has challenged the marketplace since the pandemic first hit the United States three years ago.
Q1 ReportAs of the close of Q4 2022, overall office vacancy in the Sacramento region stood at 14.9%. This reflects an increase from the 14.5% rate posted three months ago and the 13.9% level recorded one year ago. The market recorded 257,000 square feet (SF) of negative net absorption in Q4.
Q4 Report Q3 Report Q2 Report Q1 ReportAs of the close of Q1 2023, total industrial vacancy in the Sacramento region stood at 4.3%. This is up from the 4.0% rate recorded at the close of 2022 and marks the fourth consecutive quarter that vacancy levels have increased after
setting the region’s record low of 3.4% exactly one year ago. This still reflects an incredibly tight market—the ten-year average for vacancy in the region is 7.3%.
As of the close of Q4 2022, total industrial vacancy in the Sacramento region stood at just 4.0%. While this reflects a slight uptick from the 3.8% mark of three months ago and a more substantial increase over the 3.5% reading of Q4 2021, it still reflects an incredibly tight marketplace.
Q4 Report Q1 ReportApartment vacancy in the Sacramento market posted their seventh consecutive quarterly increase during the first three months of 2023, reaching 6.2% as of the end of Q1. The region had hit a low-water mark for vacancy levels in Q2 2021 when local vacancy hit its lowest point on record of just 3.1%.
Q1 ReportApartment vacancy in the Sacramento market posted its sixth consecutive quarterly increase during the final three months of 2022, closing the year at 6.7%. Our data only tracks competitive multifamily projects with a minimum of 25 units and does not include smaller complexes or fourplexes, nor does it include senior, student, or Section 8 housing.
Q4 Report Q1 Report
