Philadelphia Real Estate
Philadelphia real estate indicates the value of the properties in not just the metropolitan are but for the entire state of Pennsylvania. It is also an indicator of the strength of property market in the Eastern Seaboard region. People living in other cities can also gauge the temperature of the real estate market by looking at Philadelphia rates.
Philadelphia real estate market is seeing a decline in total number of sales. Nevertheless, median sales price has increased by around 11% over the last quarter. This has also resulted in an increase in the average price per square feet which has seen an up tick of 19.5%. This results in an average price per square foot of $135.
Philly real estate has seen a median sale price for homes from Feb 10 to Apr 10 was $122,000. A total of 2,478 homes were sold during this time period. The middle class areas of the city have not seen any major increase in crimes and remain stable and islands of peace. Apartments market in the city has also seen a relatively slow period. Offices in the central business district are still in high demand with their prices almost at the same level as they were three months ago. Areas with higher crime rates have seen a major dip in prices though many residents are still holding back given the uncertain economic conditions. The best way to ascertain the real estate market of Philadelphia is to visit websites that offer complete details. Trulia is one of these portals that have excellent information on Philadelphia.