2011 Hampton Roads Real Estate Market Review - College of ...

More documents

Recommendations

Info

ABSORPTION Absorption is defined as the net change in occupied units. Therefore, positive absorption occurs when previously vacant or newly built dwellings become occupied. Based on historical performance, the Virginia Beach-Norfolk-Newport News area is expected to absorb between 600 and 900 units annually. The collapse of the housing markets nationwide and the weakening economy caused a significant drop in demand for all types of housing in 2008. The area experienced a surge in demand for rental units in 2009 and 2010. This was due in part to the difficulties in the for-sale housing market. TABLE V Absorption Units Absorbed (Demand) 2000 1800 1600 1400 1200 1000 800 600 400 200 0 -200 -400 -600 -800 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 TABLE VI Submarket Absorption 2010 700 Absorption (Annual) 600 500 400 300 200 100 0 Chesapeake Hampton Newport News Norfolk Portsmouth Suffolk Virginia Beach Williamsburg York County 2011 Hampton Roads Real Estate Market Review 72
2011 M U LTI-FAMILY VACANCY The overall vacancy rate for the Virginia Beach-Norfolk-Newport News market as of October 2010 was 5.7%, its lowest level since 2007. Vacancy rates are expected to remain in the 5-6% range in 2011. TABLE VII Overall Vacancy Vacancy Rate (Annual) 7.5 7.0 6.5 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 .5 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 73 2011 MULTI-FAMILY
Page 1:
2011 HAMPTON ROADS REAL ESTATE MARK
Page 5 and 6:
MESSAGE FROM THE DIRECTOR Welcome a
Page 7 and 8:
THE 2011 EXECUTIVE COMMITTEE OF THE
Page 9 and 10:
ISORS TO THE CENTER (IPAC) Michael
Page 11:
John R. (Jack) Lewis, II ECS Mid-At
Page 14 and 15:
General Overview This report analyz
Page 16 and 17:
YEAR IN REVIEW Moving into 2010 the
Page 18 and 19:
We saw a greater decrease in the va
Page 20 and 21:
Total Retail Product By Type New Av
Page 22 and 23:
Retail Submarkets Southside 1 Bayfr
Page 24 and 25: Parkway Marketplace A 26,602 Provid
Page 27 and 28: 2011 HAMPTON ROADS REAL ESTATE MARK
Page 29 and 30: 2011 I N D U S T R I A L Functional
Page 31 and 32: 2011 I N D U S T R I A L 3. Average
Page 33 and 34: 2011 I N D U S T R I A L Regional I
Page 35 and 36: 2011 HAMPTON ROADS REAL ESTATE MARK
Page 37 and 38: 2011 O F F I C E New and existing H
Page 39 and 40: 2011 O F F I C E Submarket Leverage
Page 41 and 42: 2011 O F F I C E Class C Office Mar
Page 43 and 44: 2011 O F F I C E The office vacancy
Page 45 and 46: Vacancy Rate Peninsula Class B Vaca
Page 47 and 48: 2011 O F F I C E South Hampton Road
Page 49 and 50: Arrowhead Office Court . . . . . .
Page 51: Office Submarkets Southside 1 Airpo
Page 54 and 55: General Overview The Hampton Roads
Page 56 and 57: The multi-plex condominium closing
Page 58 and 59: ecorded in each community, netted t
Page 60 and 61: TABLE II Southside Top Subdivisions
Page 62 and 63: EXISTING HOMES The existing residen
Page 64 and 65: 100 90 80 70 60 50 40 30 20 10 0 Av
Page 66 and 67: As for attached homes, the median s
Page 68 and 69: To Franklin and Southampton Residen
Page 70 and 71: General Overview The Virginia Beach
Page 72 and 73: HISTORICAL APARTMENT DEVELOPMENT Hi
Page 77 and 78: 2011 M U LTI-FAMILY Multi-Family Su
Page 79 and 80: 2011 M U LTI-FAMILY AVERAGE RENTS A
Page 81 and 82: INVESTMENT 2011 HAMPTON ROADS REAL
Page 83 and 84: 2011 I N V E S T M E N T INVESTMENT
Page 85 and 86: 2011 I N V E S T M E N T POSITIVE S
show all

2011 Hampton Roads Real Estate Market Review - College of ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?