Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$58,741.93 +1.4% +13.4%
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Metro
$83,379.65 +2.9% +12.5%
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County
$100,134.55 +4.0% +10.2%
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City
$107,164.21 +5.6% +12.0%

Current Philadelphia market trends data indicates an increase of +5.6% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +12.0% compared to last year's prices. County-wide, asking prices for Multifamily properties are 4.0% higher at $100,135 per unit compared to the current median price of $107,164 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$99.87 +0.4% +2.7%
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Metro
$131.54 +0.5% +0.4%
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County
$127.08 +2.4% -2.4%
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City
$133.84 +4.5% -0.6%

Current Philadelphia market trends data indicates an increase of +4.5% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -0.6% compared to last year's prices. County-wide, asking prices for Office properties are 2.4% higher at $127 per sq ft compared to the current median price of $134 per sq ft for Office properties in Philadelphia, PA.

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Industrial Property Asking Price Index - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$44.64 +1.7% +4.3%
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Metro
$56.44 +0.6% +0.2%
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County
$43.35 -0.7% +7.9%
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City
$45.49 -1.6% +7.5%

Current Philadelphia market trends data indicates a decrease of -1.6% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +7.5% compared to last year's prices. County-wide, asking prices for Industrial properties are -0.7% 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

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$107.33 +2.1% +2.3%
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Metro
$132.11 +0.2% -0.6%
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County
$128.63 -14.9% -6.7%
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City
$138.69 -14.1% -6.4%

Current Philadelphia market trends data indicates a decrease of -14.1% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -6.4% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are -14.9% lower at $129 per sq ft compared to the current median price of $139 per sq ft for Retail Commercial properties in Philadelphia, PA.

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Multifamily Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$47,630.42 -14.2% -1.0%
-
Metro
$70,962.01 -9.1% -7.6%

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Office Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$69.20 -1.2% +7.2%
-
Metro
$71.41 -2.6% +11.7%

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Industrial Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$37.06 -9.4% -13.1%
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Metro
$40.17 -2.5% -11.1%

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Retail Property Sale Prices - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$77.68 -5.9% +4.0%
-
Metro
$77.80 -5.4% +1.8%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
23 -33.5% -9.1%

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Office Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
52 -23.8% -5.7%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
53 -24.0% -4.9%

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Retail Property Total $ Available For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -17.1% +14.3%

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Multifamily Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
48 -29.4% +6.6%

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Office Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
84 -22.3% +6.9%

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Industrial Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
63 -22.5% -4.6%

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Retail Property No. of Listings - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
67 -12.9% +15.1%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
116 -15.0% +16.4%

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Office Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
152 +1.8% +8.6%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
154 -4.2% +9.5%

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Retail Property Profile Views (Demand) - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
155 +6.2% +33.2%

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Office Property Total SF Available - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
72 -24.5% -3.4%

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Industrial Property Total SF Available - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
58 -23.8% -3.6%

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Retail Property Total SF Available - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
64 -17.2% +14.3%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
23 -40.2% -25.0%

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Multifamily Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
193 0.0% -4.0%
-
Metro
171 +8.3% +0.2%

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Office Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
284 +7.1% -6.3%
-
Metro
293 +9.9% +5.4%

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Industrial Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
318 +2.2% +7.1%
-
Metro
325 +11.7% +17.8%

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Retail Property Days on Market - Sale Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
214 +0.4% +10.9%
-
Metro
202 -7.4% +2.6%

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Office Property Asking Rent - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$16.37 -0.3% -0.4%
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Metro
$17.60 0.0% -1.2%
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County
$20.36 +1.0% +7.1%
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City
$20.40 +1.4% +7.0%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of Jul 14 was $20.40. This represents an increase of 1.4% compared to the prior 3 months, with an increase of +7.0% year-over-year. County-wide, average rental rates in Philadelphia are +1.0% higher at $20.36 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$5.28 +0.4% +1.7%
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Metro
$6.25 +1.5% +3.7%
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County
$5.85 +2.8% -0.3%
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City
$6.12 +3.1% -5.0%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of Jul 14 was $6.12. This represents an increase of 3.1% compared to the prior 3 months, with a decrease of -5.0% year-over-year. County-wide, average rental rates in Philadelphia are +2.8% higher at $5.85 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
$13.83 -0.6% 0.0%
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Metro
$15.79 -0.5% -0.3%
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County
$18.94 -4.5% -2.8%
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City
$19.60 -5.1% -3.7%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of Jul 14 was $19.60. This represents a decrease of -5.1% compared to the prior 3 months, with a decrease of -3.7% year-over-year. County-wide, average rental rates in Philadelphia are -4.5% lower at $18.94 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
81 -25.8% +0.8%

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Industrial Property No. of Spaces - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
69 -25.3% -4.7%

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Retail Property No. of Spaces - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
109 -21.2% +7.2%

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Office Property Profile Views (Demand) - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
323 -2.5% +13.0%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
217 -7.1% +9.7%

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Retail Property Profile Views (Demand) - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
296 -2.6% +15.4%

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Office Property Total SF Available - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
64 -25.7% -6.5%

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Industrial Property Total SF Available - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
50 -28.2% -13.6%

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Retail Property Total SF Available - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
Metro
92 -22.6% -3.3%

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Office Property Days on Market - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
265 +9.5% +46.3%
-
Metro
207 +10.8% +60.5%

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Industrial Property Days on Market - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
322 +9.6% +2.0%
-
Metro
297 +9.5% +4.8%

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Retail Property Days on Market - Lease Trends

  Jul 14 vs. 3 mo. prior Y-O-Y
-
State
306 -4.8% +9.7%
-
Metro
292 +2.5% +6.6%