Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$62,606.67 +3.2% +1.9%
-
Metro
$94,196.37 +11.3% +7.0%
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County
$135,976.27 +16.5% +20.2%
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City
$139,027.40 +13.8% +15.2%

Current Philadelphia market trends data indicates an increase of +13.8% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +15.2% compared to last year's prices. County-wide, asking prices for Multifamily properties are 16.5% higher at $135,976 per unit compared to the current median price of $139,027 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$98.01 -1.0% +0.9%
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Metro
$129.06 -0.5% -0.4%
-
County
$155.62 +17.5% +15.5%
-
City
$158.80 +16.6% +13.1%

Current Philadelphia market trends data indicates an increase of +16.6% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +13.1% compared to last year's prices. County-wide, asking prices for Office properties are 17.5% higher at $156 per sq ft compared to the current median price of $159 per sq ft for Office properties in Philadelphia, PA.

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Industrial Property Asking Price Index - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$46.98 +0.8% +6.8%
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Metro
$57.23 +2.9% -0.8%
-
County
$43.34 +4.7% -3.0%
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City
$45.13 +5.3% -5.1%

Current Philadelphia market trends data indicates an increase of +5.3% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -5.1% compared to last year's prices. County-wide, asking prices for Industrial properties are 4.7% higher 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

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$112.43 +1.6% +3.3%
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Metro
$142.49 +1.2% +3.7%
-
County
$145.98 +0.6% +12.2%
-
City
$158.13 +1.1% +10.4%

Current Philadelphia market trends data indicates an increase of +1.1% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +10.4% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 0.6% higher at $146 per sq ft compared to the current median price of $158 per sq ft for Retail Commercial properties in Philadelphia, PA.

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Multifamily Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$53,077.99 -6.9% +14.5%
-
Metro
$80,282.30 -1.5% +5.4%

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Office Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$93.77 +7.4% +33.9%
-
Metro
$93.41 +12.3% +31.8%

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Industrial Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$46.96 +14.8% +22.1%
-
Metro
$49.32 +11.3% +20.9%

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Retail Property Sale Prices - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$71.20 -13.6% -22.1%
-
Metro
$94.02 +6.4% +1.5%

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Multifamily Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
21 +15.4% -7.2%

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Office Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
50 -2.0% -4.4%

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Industrial Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
47 -2.4% +2.8%

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Retail Property Total $ Available For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
49 +7.0% +10.4%

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Multifamily Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
42 -1.7% -13.4%

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Office Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
81 -2.9% +0.1%

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Industrial Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
63 +2.2% +2.6%

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Retail Property No. of Listings - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
55 -0.9% -8.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
144 -3.3% -0.9%

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Office Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
176 -3.3% +16.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
229 -10.9% +18.0%

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Retail Property Profile Views (Demand) - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
158 -3.7% +11.0%

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Office Property Total SF Available - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
74 +1.3% +4.0%

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Industrial Property Total SF Available - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
53 -1.0% +1.6%

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Retail Property Total SF Available - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
57 +2.5% +4.7%

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Multifamily Property No. of Units For Sale - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
19 +1.1% -23.6%

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Multifamily Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
171 +1.4% -7.9%
-
Metro
164 +1.1% -14.2%

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Office Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
243 -7.9% -7.2%
-
Metro
262 -8.3% -9.9%

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Industrial Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
296 -0.4% -7.1%
-
Metro
323 +10.5% +4.5%

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Retail Property Days on Market - Sale Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
202 +3.6% -6.3%
-
Metro
210 +4.4% -0.1%

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Office Property Asking Rent - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$17.04 +0.5% +2.2%
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Metro
$18.64 +0.6% +3.7%
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County
$21.84 -0.6% +4.8%
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City
$22.20 +0.1% +6.4%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of May 16 was $22.20. This represents an increase of 0.1% compared to the prior 3 months, with an increase of +6.4% year-over-year. County-wide, average rental rates in Philadelphia are -0.6% lower at $21.84 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$5.61 +1.6% +3.8%
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Metro
$6.57 +2.0% +3.5%
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County
$4.93 +3.0% -7.6%
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City
$5.43 +5.4% -3.1%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of May 16 was $5.43. This represents an increase of 5.4% compared to the prior 3 months, with a decrease of -3.1% year-over-year. County-wide, average rental rates in Philadelphia are +3.0% higher at $4.93 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
$14.09 +0.6% +0.4%
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Metro
$16.07 +1.7% +0.6%
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County
$19.55 +3.7% +3.0%
-
City
$19.97 +3.6% +3.3%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of May 16 was $19.97. This represents an increase of 3.6% compared to the prior 3 months, with an increase of +3.3% year-over-year. County-wide, average rental rates in Philadelphia are +3.7% higher at $19.55 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
89 +2.3% +7.2%

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Industrial Property No. of Spaces - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
70 -1.0% +1.6%

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Retail Property No. of Spaces - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
122 +3.7% +7.8%

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Office Property Profile Views (Demand) - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
238 -37.4% -32.8%

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Industrial Property Profile Views (Demand) - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
189 -41.0% -26.9%

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Retail Property Profile Views (Demand) - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
201 -41.2% -33.7%

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Office Property Total SF Available - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
73 +3.1% +12.0%

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Industrial Property Total SF Available - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
46 -1.7% -3.0%

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Retail Property Total SF Available - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
Metro
103 +1.2% +8.7%

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Office Property Days on Market - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
250 +1.8% -11.9%
-
Metro
243 -6.3% -21.0%

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Industrial Property Days on Market - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
275 +15.3% +1.8%
-
Metro
259 +3.0% -8.9%

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Retail Property Days on Market - Lease Trends

  May 16 vs. 3 mo. prior Y-O-Y
-
State
338 +1.4% +1.3%
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Metro
271 -12.5% -22.3%