For months we’ve been telling you the Center City real estate market is stronger than you might think from listening to the news. We’ve blogged about why Philadelphia is different and told you about developers who are investing in the city. But our first quarter report provides the best proof to-date of the ongoing strength of Center City real estate.
The median price for a Center City home is $310,000 up around 13% from last quarter 13% from Q1 of last year. The average home is at a whopping $384,000 up almost 10% for the quarter. The upward trends show fundamental strength in the market and suggests market activity will increase. Buyers need to be prepared to act fast as homes will sell more quickly than 2007.
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