Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$59,080.94 +1.5% +6.1%
-
Metro
$91,953.99 +8.9% +15.5%
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County
$131,844.81 +30.6% +43.1%
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City
$138,386.97 +25.3% +42.9%

Current Philadelphia market trends data indicates an increase of +25.3% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with an increase of +42.9% compared to last year's prices. County-wide, asking prices for Multifamily properties are 30.6% higher at $131,845 per unit compared to the current median price of $138,387 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$99.72 -0.2% +0.0%
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Metro
$131.14 +0.1% -0.7%
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County
$135.86 +3.1% +5.7%
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City
$144.30 +2.5% +9.4%

Current Philadelphia market trends data indicates an increase of +2.5% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +9.4% compared to last year's prices. County-wide, asking prices for Office properties are 3.1% higher at $136 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

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$43.83 -2.1% +0.3%
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Metro
$56.11 -1.6% -1.4%
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County
$43.04 -2.3% -1.4%
-
City
$44.66 -2.6% -2.4%

Current Philadelphia market trends data indicates a decrease of -2.6% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -2.4% compared to last year's prices. County-wide, asking prices for Industrial properties are -2.3% 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

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$108.85 +1.0% +4.0%
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Metro
$134.04 +2.0% +1.6%
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County
$120.62 +1.9% -23.0%
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City
$130.02 +1.9% -22.6%

Current Philadelphia market trends data indicates an increase of +1.9% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -22.6% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 1.9% higher at $121 per sq ft compared to the current median price of $130 per sq ft for Retail Commercial properties in Philadelphia, PA.

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Multifamily Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$48,108.16 +2.4% -17.6%
-
Metro
$71,987.45 +2.6% -9.7%

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Office Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$71.21 +2.7% +23.7%
-
Metro
$73.31 +3.2% +21.5%

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Industrial Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$45.02 +24.4% +22.0%
-
Metro
$45.59 +19.0% +19.2%

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Retail Property Sale Prices - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$86.30 +9.1% +12.1%
-
Metro
$85.01 +8.5% +7.5%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
19 -5.7% -56.7%

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Office Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
54 +0.4% -22.8%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
45 -6.4% -34.4%

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Retail Property Total $ Available For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
44 -10.0% -24.1%

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Multifamily Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
45 -8.2% -35.5%

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Office Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
82 -1.5% -22.1%

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Industrial Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
60 -3.8% -26.2%

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Retail Property No. of Listings - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
61 -8.6% -17.4%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
134 +3.1% +1.8%

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Office Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
166 -1.7% +21.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
195 +6.6% +18.0%

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Retail Property Profile Views (Demand) - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
154 +0.2% +17.2%

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Office Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
72 -2.7% -19.8%

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Industrial Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 -2.1% -28.6%

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Retail Property Total SF Available - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 -11.4% -26.8%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
18 -19.2% -62.2%

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Multifamily Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
157 -8.6% -15.9%
-
Metro
167 +4.1% -0.1%

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Office Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
265 -8.3% -9.5%
-
Metro
289 -10.4% +9.3%

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Industrial Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
298 -9.2% +0.3%
-
Metro
340 +3.2% +28.8%

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Retail Property Days on Market - Sale Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
221 -3.3% +11.8%
-
Metro
192 +3.9% -7.5%

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Office Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$16.65 +0.8% +1.9%
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Metro
$17.84 +0.2% +1.4%
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County
$20.54 +1.1% +4.9%
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City
$20.58 +0.9% +5.0%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of Jan 15 was $20.58. This represents an increase of 0.9% compared to the prior 3 months, with an increase of +5.0% year-over-year. County-wide, average rental rates in Philadelphia are +1.1% higher at $20.54 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$5.37 +0.8% +1.6%
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Metro
$6.34 +0.0% +3.8%
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County
$5.57 -5.8% -2.1%
-
City
$5.83 -4.8% -1.4%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of Jan 15 was $5.83. This represents a decrease of -4.8% compared to the prior 3 months, with a decrease of -1.4% year-over-year. County-wide, average rental rates in Philadelphia are -5.8% lower at $5.57 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
$13.83 +0.2% -0.1%
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Metro
$15.85 +0.0% +0.4%
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County
$19.28 +2.3% -0.8%
-
City
$19.81 +2.2% -1.5%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of Jan 15 was $19.81. This represents an increase of 2.2% compared to the prior 3 months, with a decrease of -1.5% year-over-year. County-wide, average rental rates in Philadelphia are +2.3% higher at $19.28 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
84 +3.3% -20.0%

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Industrial Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
70 +0.5% -24.7%

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Retail Property No. of Spaces - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
110 +0.2% -18.3%

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Office Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
355 -5.2% +22.5%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
277 +2.4% +19.1%

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Retail Property Profile Views (Demand) - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
320 -1.4% +16.6%

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Office Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
68 +0.5% -21.0%

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Industrial Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
49 +1.3% -27.6%

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Retail Property Total SF Available - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
Metro
92 -0.4% -26.5%

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Office Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
260 -8.9% +18.8%
-
Metro
265 -2.0% +47.0%

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Industrial Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
317 -6.6% +11.7%
-
Metro
301 -4.3% +5.1%

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Retail Property Days on Market - Lease Trends

  Jan 15 vs. 3 mo. prior Y-O-Y
-
State
293 -3.4% -0.7%
-
Metro
338 +6.6% +30.3%