Philadelphia Housing Market

Asked by Reza, Salt Lake City, UT Sat May 10, 2008

Is the Philadelphia housing market expected to decline further following national trends or is now a good time to purchase a home in Center City?

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Alan’s answer
Alan, , Heavens
Sun May 11, 2008
It will decline substantially. When you see sales volume start to rise (year over year) then you will subsequently see prices stabilize. Sales volume is in a large downward freefall at the moment without end in sight.
1 vote
Bruce Lang, Agent, Philadelphia, PA
Sat Feb 5, 2011
It's interesting to look at this in the rear view. Select neighborhoods improved slightly (grad hospital) while others had some 8-15 percent reductions. By national standards..pretty good. Center city held up very well compared to other outlying areas
0 votes
Joe White, Agent, Philadelphia, PA
Wed Jun 16, 2010
Reza,

The old axiom "all real estate is local" couldn't be more true than here. Center City spans 7 zip codes, has over 120,000 residents and grows by 2,000 residents a year (see link below).

Some sections are definitely doing better than others. Also, new construction costs decreased which means great bargains on homes built just a few years ago.

It's unprofessional to publicly post, but I'll be glad to talk to you about some deals I've negotiated. You have many excellent Realtors available. My "move smarter" philosophy is to get you the information to make smart, powerful decisions. Call me at 215 266 7227 and see if we're a good fit.

Joe White • Coldwell Banker Preferred • Avenue of the Arts
0 votes
Fred Glick, Agent, Mountain View, CA
Thu Jun 10, 2010
As an active agent in Center City Philadelphia for many years (and a resident), the market actually is very interesting.

I have had two buyers in the last couple of weeks in the post-tax credit environment lose properties on price.

They were both cash buyers and buying property that was priced in the 5's.

The antithesis of that is that there are still overpriced, bad properties available.

This market has a stable job base and high desirability depending on the street, schools, location relative to necessity, etc.

I have some more detailed analysis, if you live.

Please email me (fred@fredglick.com) or call me at 215-852-4469

Thanks,

Fred Glick
U S Spaces, Inc
Web Reference:  http://fglick.com
0 votes
Stacey & Big…, Agent, Feasterville, PA
Wed May 14, 2008
Yes, now is a good time to buy in Center City.
0 votes
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