Philadelphia real estate market update

 

 

 

 

 

 

 

 

 

 

 

 

The Philadelphia real estate market continues to hold its own and is completely separate from the doom and gloom you hear in the news. The market here in Philadelphia is thriving! This spring has resulted in a very competitive, tight market place for Buyers with little inventory to choose from resulting in Multiple offers for Sellers, which we have not seen since 2006. Interest rates have been and continue to remain @ record lows with rates under 4% in some instances; which have also put the pressure on our market place in Philadelphia, by giving the “on the fence” Buyers a reason to pounce on the new introductions to the Philadelphia Spring market.  There is new development and growth throughout Philadelphia from new construction on vacant lots, new retailers bringing new business into our neighborhoods; from Shake Shack, coming to 20th/Sansom and the brand new Hip City Veg on 18th/Sansom, to Green Eggs Cafe at 13th/Locust just to name a few, it’s an exciting time in Philadelphia and adds to the allure of purchasing with the promise of future growth and stability for home buying investment.

Below you will find a link to the market statistics for Philadelphia for the 1st Quarter.
Any questions, Any time, Always here to help!

Click here for the Market Statistics for Quarter 1

 

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