Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$62,544.68 +4.1% +6.6%
-
Metro
$87,047.14 -4.8% +5.7%
-
County
$109,772.92 -13.0% +12.4%
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City
$116,670.63 -12.0% +12.0%

Current Philadelphia market trends data indicates a decrease of -12.0% 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 -13.0% lower at $109,773 per unit compared to the current median price of $116,671 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$96.47 -1.9% -3.6%
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Metro
$129.31 -1.1% -2.0%
-
County
$134.24 -3.2% +6.8%
-
City
$138.37 -4.9% +5.5%

Current Philadelphia market trends data indicates a decrease of -4.9% in the median asking price per sq ft for Office properties compared to the prior 3 months, with an increase of +5.5% compared to last year's prices. County-wide, asking prices for Office properties are -3.2% lower at $134 per sq ft compared to the current median price of $138 per sq ft for Office properties in Philadelphia, PA.

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Industrial Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$44.47 +2.3% -0.8%
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Metro
$57.70 +1.7% +2.7%
-
County
$45.71 +6.0% +8.0%
-
City
$48.73 +7.6% +8.4%

Current Philadelphia market trends data indicates an increase of +7.6% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with an increase of +8.4% compared to last year's prices. County-wide, asking prices for Industrial properties are 6.0% higher at $46 per sq ft compared to the current median price of $49 per sq ft for Industrial properties in Philadelphia, PA.

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Retail Property Asking Price Index - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$108.21 -0.9% +1.5%
-
Metro
$136.59 -0.7% +3.2%
-
County
$127.62 +0.4% -6.3%
-
City
$140.51 +1.2% -4.4%

Current Philadelphia market trends data indicates an increase of +1.2% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with a decrease of -4.4% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 0.4% higher at $128 per sq ft compared to the current median price of $141 per sq ft for Retail Commercial properties in Philadelphia, PA.

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Multifamily Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$46,968.51 -1.3% -6.2%
-
Metro
$74,522.82 -3.1% +0.9%

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Office Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$69.38 -2.0% -0.3%
-
Metro
$70.03 -4.4% -3.0%

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Industrial Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$38.52 -11.0% -0.5%
-
Metro
$40.67 -8.1% -2.8%

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Retail Property Sale Prices - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$91.22 +0.6% +15.2%
-
Metro
$92.85 +2.1% +17.0%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
23 +14.4% -25.1%

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Office Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
53 +0.2% -25.5%

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Industrial Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
46 +5.5% -34.4%

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Retail Property Total $ Available For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
46 +3.8% -27.4%

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Multifamily Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
50 +12.5% -24.5%

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Office Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
82 +2.0% -27.5%

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Industrial Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
62 +3.6% -25.9%

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Retail Property No. of Listings - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
61 +3.2% -25.2%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
140 -9.8% +15.7%

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Office Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
144 -19.0% -5.5%

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Industrial Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
186 -13.8% +24.8%

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Retail Property Profile Views (Demand) - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
133 -22.5% -10.6%

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Office Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
73 +5.3% -26.3%

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Industrial Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
52 +0.8% -32.6%

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Retail Property Total SF Available - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
56 +4.5% -31.3%

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Multifamily Property No. of Units For Sale - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
27 +25.8% -15.6%

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Multifamily Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
195 +20.6% -0.5%
-
Metro
198 +14.0% +19.5%

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Office Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
260 -3.1% -6.0%
-
Metro
284 -0.3% +2.1%

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Industrial Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
318 +2.9% +0.9%
-
Metro
314 -1.1% +0.0%

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Retail Property Days on Market - Sale Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
207 -8.0% -5.0%
-
Metro
210 +2.1% +0.3%

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Office Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$16.61 -0.4% +1.5%
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Metro
$17.98 +0.5% +2.2%
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County
$20.77 +0.0% +2.3%
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City
$20.79 0.0% +2.3%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of Jun 15 was $20.79. Rental rates remained unchanged compared to the prior 3 months, with an increase of +2.3% year-over-year. County-wide, average rental rates in Philadelphia are +0.0% higher at $20.77 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$5.42 +0.1% +3.2%
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Metro
$6.36 -0.4% +2.3%
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County
$5.49 +2.4% -4.6%
-
City
$5.81 +3.3% -4.1%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of Jun 15 was $5.81. This represents an increase of 3.3% compared to the prior 3 months, with a decrease of -4.1% year-over-year. County-wide, average rental rates in Philadelphia are +2.4% higher at $5.49 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
$14.02 +0.5% +0.8%
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Metro
$15.87 +0.2% +0.2%
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County
$18.63 -2.8% -3.0%
-
City
$18.96 -2.9% -4.8%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of Jun 15 was $18.96. This represents a decrease of -2.9% compared to the prior 3 months, with a decrease of -4.8% year-over-year. County-wide, average rental rates in Philadelphia are -2.8% lower at $18.63 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
82 -2.4% -24.8%

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Industrial Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
68 -1.4% -26.5%

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Retail Property No. of Spaces - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
114 +1.9% -20.1%

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Office Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
334 -16.7% +3.9%

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Industrial Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
242 -19.0% +13.7%

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Retail Property Profile Views (Demand) - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
281 -19.3% -3.9%

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Office Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
65 -2.9% -25.9%

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Industrial Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
47 -1.6% -31.5%

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Retail Property Total SF Available - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
Metro
95 +0.5% -21.8%

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Office Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
286 +7.2% +14.3%
-
Metro
308 +6.6% +68.2%

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Industrial Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
264 -8.8% -15.6%
-
Metro
293 +4.0% +2.7%

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Retail Property Days on Market - Lease Trends

  Jun 15 vs. 3 mo. prior Y-O-Y
-
State
330 +11.4% +5.9%
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Metro
349 +2.2% +18.6%