Philadelphia Real Estate Investment Market Stats

Installment number four of my Philadelphia market stats shows growing strength in the 2-4 unit segment, where inventory has come down from 24.8 to 16 months in just four weeks. This is being driven by an increasing sales pace that is likely to be both seasonal and tax-credit driven - many buyers of 2-4 unit properties are owner-occupants who can take advantage of the tax credit if they buy soon.

Shell properties are also selling well with the average price/square foot creeping above $33. On the other end of the spectrum multifamily properties of 5+ units are having a tough time with only 2 sales recorded in the past 30 days. The slowness in this market is tied to the lack of available financing for commercial properties as well as the general hesitancy of investors to commit large sums of capital to single properties. There is an especially worrisome glut of multifamily properties in West, North, and Lower Northeast Philadelphia.

Feel free to ask questions or comment on these statistics and let me know if you've found any creative uses for them yet.