![Image treatment Image treatment](https://research.euro.savills.co.uk/_images/san-diego-skyline(3)(2).jpg)
TAKEAWAYS
- After rising for a few quarters, the overall availability rate in San Diego finally declined in Q3 2021, dropping 70 basis points from 20.7% reported in Q2 2021 to 20.0%.
- The market's overall average asking rent continued to decrease, now at $3.11 psf per month, and is down 0.6% from a year ago.
- Q3 leasing activity of 1.6 million square feet (msf) was up from 1.2 msf in Q2 and is now the highest reported quarterly leasing activity since COVID's onset.
- The region’s technology and life sciences sectors remain bright spots in an office market continuing to adjust to remote work policies and hybrid workplace strategies - and with venture capital funding at all-time highs, both sectors are expected to see no slowdown though year-end and into 2022.