Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$61,220.02 +1.2% +1.9%
-
Metro
$86,522.14 +2.8% -5.4%
-
County
$119,569.36 +10.6% -5.2%
-
City
$124,673.75 +9.2% -6.0%

Current Philadelphia market trends data indicates an increase of +9.2% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -6.0% compared to last year's prices. County-wide, asking prices for Multifamily properties are 10.6% higher at $119,569 per unit compared to the current median price of $124,674 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$98.38 -0.1% +0.0%
-
Metro
$129.40 -0.5% -1.0%
-
County
$138.10 +0.2% -0.4%
-
City
$142.06 +0.5% -2.3%

Current Philadelphia market trends data indicates an increase of +0.5% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -2.3% compared to last year's prices. County-wide, asking prices for Office properties are 0.2% higher at $138 per sq ft compared to the current median price of $142 per sq ft for Office properties in Philadelphia, PA.

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Industrial Property Asking Price Index - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$46.78 +1.3% +7.6%
-
Metro
$56.18 +2.3% -1.0%
-
County
$41.30 -2.7% -4.3%
-
City
$42.83 -2.8% -5.4%

Current Philadelphia market trends data indicates a decrease of -2.8% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -5.4% compared to last year's prices. County-wide, asking prices for Industrial properties are -2.7% lower at $41 per sq ft compared to the current median price of $43 per sq ft for Industrial properties in Philadelphia, PA.

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Retail Property Asking Price Index - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$111.69 +3.8% +2.3%
-
Metro
$142.53 +2.1% +3.6%
-
County
$146.61 +5.7% +15.3%
-
City
$158.78 +5.4% +14.4%

Current Philadelphia market trends data indicates an increase of +5.4% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +14.4% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 5.7% higher at $147 per sq ft compared to the current median price of $159 per sq ft for Retail Commercial properties in Philadelphia, PA.

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Multifamily Property Sale Prices - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$55,275.02 -1.3% +16.1%
-
Metro
$80,073.78 -2.0% +4.1%

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Office Property Sale Prices - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$92.41 +33.7% +30.6%
-
Metro
$88.92 +31.9% +21.4%

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Industrial Property Sale Prices - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$42.08 -11.7% -2.7%
-
Metro
$45.47 -8.2% +2.7%

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Retail Property Sale Prices - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$81.54 +8.3% -10.1%
-
Metro
$88.30 +8.2% -2.9%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
18 -18.6% -13.7%

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Office Property Total $ Available For Sale - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
52 +1.1% -1.7%

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Industrial Property Total $ Available For Sale - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
48 -3.5% +8.5%

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Retail Property Total $ Available For Sale - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
47 +0.2% +6.7%

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Multifamily Property No. of Listings - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
42 -9.0% -5.4%

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Office Property No. of Listings - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
83 -1.7% +3.8%

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Industrial Property No. of Listings - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
62 +1.6% +3.7%

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Retail Property No. of Listings - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
55 -3.4% -8.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
140 +11.5% -10.2%

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Office Property Profile Views (Demand) - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
176 +18.7% -1.3%

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Industrial Property Profile Views (Demand) - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
236 +9.0% +9.1%

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Retail Property Profile Views (Demand) - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
153 +8.3% -10.6%

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Office Property Total SF Available - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
74 -0.4% +6.0%

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Industrial Property Total SF Available - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
51 -11.5% -0.2%

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Retail Property Total SF Available - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
56 +2.1% +3.5%

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Multifamily Property No. of Units For Sale - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
17 -29.0% -18.5%

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Multifamily Property Days on Market - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
171 -3.8% +5.6%
-
Metro
165 -4.1% -5.1%

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Office Property Days on Market - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
255 -10.3% -4.4%
-
Metro
275 -10.1% -3.4%

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Industrial Property Days on Market - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
299 +0.2% -3.2%
-
Metro
305 +7.3% -4.1%

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Retail Property Days on Market - Sale Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
198 +2.5% -12.3%
-
Metro
206 +3.1% +0.2%

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Office Property Asking Rent - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$16.99 +0.9% +1.8%
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Metro
$18.56 +0.9% +3.7%
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County
$21.87 +0.9% +5.3%
-
City
$22.17 +1.6% +6.6%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of Mar 16 was $22.17. This represents an increase of 1.6% compared to the prior 3 months, with an increase of +6.6% year-over-year. County-wide, average rental rates in Philadelphia are +0.9% higher at $21.87 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$5.57 +0.5% +2.9%
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Metro
$6.52 +0.2% +2.1%
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County
$4.79 -6.1% -10.5%
-
City
$5.21 -5.2% -7.3%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of Mar 16 was $5.21. This represents a decrease of -5.2% compared to the prior 3 months, with a decrease of -7.3% year-over-year. County-wide, average rental rates in Philadelphia are -6.1% lower at $4.79 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
$14.04 +0.3% +0.7%
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Metro
$15.90 +0.9% +0.4%
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County
$19.06 +3.1% -0.5%
-
City
$19.50 +3.2% -0.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of Mar 16 was $19.50. This represents an increase of 3.2% compared to the prior 3 months, with a decrease of -0.2% year-over-year. County-wide, average rental rates in Philadelphia are +3.1% higher at $19.06 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
87 +3.1% +3.9%

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Industrial Property No. of Spaces - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
70 -1.6% +0.5%

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Retail Property No. of Spaces - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
119 +2.7% +6.5%

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Office Property Profile Views (Demand) - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
358 +8.0% -10.7%

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Industrial Property Profile Views (Demand) - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
295 +7.9% -1.3%

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Retail Property Profile Views (Demand) - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
320 +9.1% -8.3%

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Office Property Total SF Available - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
72 +6.1% +8.1%

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Industrial Property Total SF Available - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
46 -0.6% -2.4%

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Retail Property Total SF Available - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
Metro
103 +2.2% +9.1%

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Office Property Days on Market - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
245 -6.4% -8.5%
-
Metro
251 -10.3% -12.5%

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Industrial Property Days on Market - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
242 -2.5% -16.1%
-
Metro
248 -9.1% -12.2%

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Retail Property Days on Market - Lease Trends

  Mar 16 vs. 3 mo. prior Y-O-Y
-
State
334 +0.9% +12.1%
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Metro
308 -3.5% -10.7%