Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$58,082.71 +0.1% +6.9%
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Metro
$85,744.94 +3.5% +12.1%
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County
$104,269.57 +6.6% +14.1%
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City
$114,435.97 +8.2% +18.4%

Current Philadelphia market trends data indicates an increase of +8.2% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +18.4% compared to last year's prices. County-wide, asking prices for Multifamily properties are 6.6% higher at $104,270 per unit compared to the current median price of $114,436 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$99.95 +0.4% +1.4%
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Metro
$130.59 -0.4% -1.2%
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County
$133.50 +3.2% +2.6%
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City
$144.50 +6.0% +7.9%

Current Philadelphia market trends data indicates an increase of +6.0% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +7.9% compared to last year's prices. County-wide, asking prices for Office properties are 3.2% higher at $134 per sq ft compared to the current median price of $144 per sq ft for Office properties in Philadelphia, PA.

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Industrial Property Asking Price Index - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$44.44 -0.6% +3.1%
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Metro
$56.78 -0.2% 0.0%
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County
$43.26 -1.7% -0.4%
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City
$45.03 -2.0% -1.3%

Current Philadelphia market trends data indicates a decrease of -2.0% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -1.3% compared to last year's prices. County-wide, asking prices for Industrial properties are -1.7% lower at $43 per sq ft compared to the current median price of $45 per sq ft for Industrial properties in Philadelphia, PA.

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Retail Property Asking Price Index - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$108.02 +0.2% +2.9%
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Metro
$130.85 -1.0% -1.5%
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County
$117.63 -5.3% -22.2%
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City
$126.68 -5.3% -22.2%

Current Philadelphia market trends data indicates a decrease of -5.3% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -22.2% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -5.3% lower at $118 per sq ft compared to the current median price of $127 per sq ft for Retail Commercial properties in Philadelphia, PA.

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Multifamily Property Sale Prices - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$46,414.89 -2.6% -18.5%
-
Metro
$70,120.09 +0.4% -10.8%

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Office Property Sale Prices - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$69.52 +0.8% +23.1%
-
Metro
$70.98 +0.4% +21.6%

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Industrial Property Sale Prices - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$38.46 +7.7% +0.8%
-
Metro
$40.06 +3.9% -2.5%

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Retail Property Sale Prices - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$82.88 +8.3% +15.8%
-
Metro
$82.08 +7.0% +8.7%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
19 -10.6% -51.9%

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Office Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
54 +3.8% -22.0%

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Industrial Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
49 -4.6% -30.4%

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Retail Property Total $ Available For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 -4.9% -17.9%

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Multifamily Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 +1.1% -26.5%

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Office Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
84 +1.7% -20.4%

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Industrial Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
63 +0.7% -27.8%

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Retail Property No. of Listings - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
66 -2.7% -12.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
132 +13.0% +36.4%

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Office Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
171 +10.6% +61.0%

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Industrial Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
189 +17.6% +45.8%

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Retail Property Profile Views (Demand) - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
149 -3.7% +52.8%

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Office Property Total SF Available - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
75 +5.1% -15.6%

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Industrial Property Total SF Available - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
54 -3.5% -25.3%

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Retail Property Total SF Available - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
61 -5.4% -19.0%

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Multifamily Property No. of Units For Sale - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
21 -6.7% -55.7%

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Multifamily Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
164 -12.9% -18.3%
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Metro
159 -7.0% -9.8%

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Office Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
280 -4.9% -3.7%
-
Metro
308 -0.8% +16.8%

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Industrial Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
316 -2.4% +8.3%
-
Metro
336 +2.2% +28.1%

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Retail Property Days on Market - Sale Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
225 +2.4% +11.8%
-
Metro
183 -5.5% -5.6%

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Office Property Asking Rent - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$16.61 +1.2% +1.8%
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Metro
$17.86 +1.0% +1.5%
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County
$20.36 0.0% +6.5%
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City
$20.45 +0.2% +6.9%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of Nov 14 was $20.45. This represents an increase of 0.2% compared to the prior 3 months, with an increase of +6.9% year-over-year. County-wide, average rental rates in Philadelphia are 0.0% lower at $20.36 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$5.35 +0.8% +1.6%
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Metro
$6.32 +0.5% +4.2%
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County
$5.75 -4.0% -0.2%
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City
$5.99 -4.4% -0.5%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of Nov 14 was $5.99. This represents a decrease of -4.4% compared to the prior 3 months, with a decrease of -0.5% year-over-year. County-wide, average rental rates in Philadelphia are -4.0% lower at $5.75 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
$13.80 -0.1% 0.0%
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Metro
$15.88 +0.5% +1.0%
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County
$18.99 +0.6% -3.2%
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City
$19.55 +0.2% -4.3%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of Nov 14 was $19.55. This represents an increase of 0.2% compared to the prior 3 months, with a decrease of -4.3% year-over-year. County-wide, average rental rates in Philadelphia are +0.6% higher at $18.99 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
83 +4.1% -18.2%

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Industrial Property No. of Spaces - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
70 +0.6% -25.5%

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Retail Property No. of Spaces - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
110 +0.5% -19.1%

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Office Property Profile Views (Demand) - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
366 +7.5% +68.0%

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Industrial Property Profile Views (Demand) - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
275 +20.0% +61.3%

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Retail Property Profile Views (Demand) - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
315 +2.8% +54.9%

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Office Property Total SF Available - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
70 +8.8% -12.5%

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Industrial Property Total SF Available - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
49 -0.1% -27.5%

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Retail Property Total SF Available - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
Metro
92 +0.1% -28.1%

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Office Property Days on Market - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
279 +0.6% +38.7%
-
Metro
272 +15.8% +67.5%

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Industrial Property Days on Market - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
344 +5.2% +27.2%
-
Metro
314 +2.0% +24.2%

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Retail Property Days on Market - Lease Trends

  Nov 14 vs. 3 mo. prior Y-O-Y
-
State
299 -2.1% +3.3%
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Metro
327 +11.5% +22.4%