Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$60,069.73 +3.6% +4.5%
-
Metro
$91,458.42 +4.1% +14.3%
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County
$126,108.19 +9.0% +33.2%
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City
$132,648.03 +6.8% +33.5%

Current Philadelphia market trends data indicates an increase of +6.8% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +33.5% compared to last year's prices. County-wide, asking prices for Multifamily properties are 9.0% higher at $126,108 per unit compared to the current median price of $132,648 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$98.35 -1.4% -1.3%
-
Metro
$130.78 0.0% -0.6%
-
County
$138.63 +5.3% +7.9%
-
City
$145.43 +2.6% +10.2%

Current Philadelphia market trends data indicates an increase of +2.6% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +10.2% compared to last year's prices. County-wide, asking prices for Office properties are 5.3% higher at $139 per sq ft compared to the current median price of $145 per sq ft for Office properties in Philadelphia, PA.

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Industrial Property Asking Price Index - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$43.48 -1.7% -1.1%
-
Metro
$56.74 +0.4% +0.4%
-
County
$43.13 +0.6% -2.4%
-
City
$45.27 +1.6% -2.7%

Current Philadelphia market trends data indicates an increase of +1.6% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -2.7% compared to last year's prices. County-wide, asking prices for Industrial properties are 0.6% 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

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$109.16 +0.4% +4.1%
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Metro
$137.62 +4.6% +4.9%
-
County
$127.15 +8.0% -16.5%
-
City
$138.78 +9.4% -14.8%

Current Philadelphia market trends data indicates an increase of +9.4% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -14.8% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 8.0% higher at $127 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

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$47,316.94 +0.9% -17.3%
-
Metro
$77,601.66 +10.0% -1.6%

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Office Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$70.81 +1.0% +4.6%
-
Metro
$73.32 +2.3% +3.0%

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Industrial Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$43.40 +3.8% +9.3%
-
Metro
$44.52 +4.4% +12.8%

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Retail Property Sale Prices - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$90.84 +7.3% +10.3%
-
Metro
$91.52 +9.4% +11.1%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
21 +9.5% -50.1%

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Office Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -3.7% -24.0%

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Industrial Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
44 -8.3% -36.8%

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Retail Property Total $ Available For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
44 -2.4% -24.7%

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Multifamily Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
44 -4.9% -36.5%

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Office Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
80 -3.9% -23.6%

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Industrial Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
60 -3.3% -25.4%

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Retail Property No. of Listings - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
60 -4.9% -21.3%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
155 +20.3% +8.9%

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Office Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
178 +7.2% +20.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
216 +14.9% +29.2%

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Retail Property Profile Views (Demand) - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
171 +16.4% +15.5%

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Office Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
70 -6.4% -23.5%

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Industrial Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -4.2% -30.9%

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Retail Property Total SF Available - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
54 -6.3% -29.6%

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Multifamily Property No. of Units For Sale - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
21 +15.2% -52.7%

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Multifamily Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
162 +1.1% -14.4%
-
Metro
173 +6.7% +8.8%

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Office Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
268 -0.7% -0.5%
-
Metro
284 -4.4% +6.2%

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Industrial Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
309 +1.8% +0.4%
-
Metro
318 -6.1% +12.5%

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Retail Property Days on Market - Sale Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
225 +1.8% +8.4%
-
Metro
204 +9.7% -5.1%

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Office Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$16.68 +0.4% +1.8%
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Metro
$17.90 +0.4% +1.8%
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County
$20.77 +2.1% +4.1%
-
City
$20.79 +2.0% +4.5%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of Mar 15 was $20.79. This represents an increase of 2.0% compared to the prior 3 months, with an increase of +4.5% year-over-year. County-wide, average rental rates in Philadelphia are +2.1% higher at $20.77 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$5.41 +1.1% +2.5%
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Metro
$6.39 +1.0% +3.9%
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County
$5.36 -5.1% -6.3%
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City
$5.62 -4.9% -6.0%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of Mar 15 was $5.62. This represents a decrease of -4.9% compared to the prior 3 months, with a decrease of -6.0% year-over-year. County-wide, average rental rates in Philadelphia are -5.1% lower at $5.36 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
$13.94 +0.9% +0.3%
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Metro
$15.84 -0.2% +0.1%
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County
$19.16 +0.8% -2.3%
-
City
$19.54 0.0% -4.5%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of Mar 15 was $19.54. This represents a decrease of 0.0% compared to the prior 3 months, with a decrease of -4.5% year-over-year. County-wide, average rental rates in Philadelphia are +0.8% higher at $19.16 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
84 +0.2% -21.5%

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Industrial Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
69 -0.9% -24.8%

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Retail Property No. of Spaces - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
112 +2.2% -17.1%

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Office Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
400 +14.4% +19.8%

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Industrial Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
299 +10.3% +23.5%

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Retail Property Profile Views (Demand) - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
349 +12.6% +11.2%

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Office Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
66 -3.1% -22.3%

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Industrial Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
48 -4.4% -31.6%

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Retail Property Total SF Available - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
Metro
94 +1.2% -21.8%

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Office Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
266 -0.6% +12.4%
-
Metro
288 +8.1% +50.6%

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Industrial Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
293 -11.6% +2.1%
-
Metro
285 -7.2% +1.3%

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Retail Property Days on Market - Lease Trends

  Mar 15 vs. 3 mo. prior Y-O-Y
-
State
303 +2.8% -4.3%
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Metro
346 +4.1% +25.8%