Philadelphia, PA Market Trends

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Multifamily Property Asking Price Index - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$60,672.44 -1.2% +2.4%
-
Metro
$84,605.02 -0.7% -8.4%
-
County
$116,723.18 +7.1% -12.3%
-
City
$122,172.01 +6.9% -12.1%

Current Philadelphia market trends data indicates an increase of +6.9% in the median asking price per unit for Multifamily properties compared to the prior 3 months, with a decrease of -12.1% compared to last year's prices. County-wide, asking prices for Multifamily properties are 7.1% higher at $116,723 per unit compared to the current median price of $122,172 per unit for Multifamily properties in Philadelphia, PA.

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Office Property Asking Price Index - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$99.02 +1.4% -0.2%
-
Metro
$129.66 +0.1% -1.2%
-
County
$132.44 -3.0% -3.5%
-
City
$136.20 -2.5% -5.8%

Current Philadelphia market trends data indicates a decrease of -2.5% in the median asking price per sq ft for Office properties compared to the prior 3 months, with a decrease of -5.8% compared to last year's prices. County-wide, asking prices for Office properties are -3.0% lower at $132 per sq ft compared to the current median price of $136 per sq ft for Office properties in Philadelphia, PA.

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Industrial Property Asking Price Index - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$46.62 +1.6% +7.1%
-
Metro
$55.61 +1.2% -0.6%
-
County
$41.38 -1.3% -3.4%
-
City
$42.86 -1.8% -3.8%

Current Philadelphia market trends data indicates a decrease of -1.8% in the median asking price per sq ft for Industrial properties compared to the prior 3 months, with a decrease of -3.8% compared to last year's prices. County-wide, asking prices for Industrial properties are -1.3% lower at $41 per sq ft compared to the current median price of $43 per sq ft for Industrial properties in Philadelphia, PA.

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Retail Property Asking Price Index - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$110.67 +3.3% +1.1%
-
Metro
$140.77 +0.7% +3.3%
-
County
$145.06 +5.0% +17.6%
-
City
$156.42 +4.3% +17.5%

Current Philadelphia market trends data indicates an increase of +4.3% in the median asking price per sq ft for Retail Commercial properties compared to the prior 3 months, with an increase of +17.5% compared to last year's prices. County-wide, asking prices for Retail Commercial properties are 5.0% higher at $145 per sq ft compared to the current median price of $156 per sq ft for Retail Commercial properties in Philadelphia, PA.

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Multifamily Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$57,015.39 +5.3% +18.9%
-
Metro
$81,466.97 +2.5% +9.7%

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Office Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$87.33 +32.4% +22.7%
-
Metro
$83.18 +25.8% +12.5%

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Industrial Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$40.89 -20.3% -9.7%
-
Metro
$44.32 -15.5% -3.4%

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Retail Property Sale Prices - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$82.40 +13.4% -7.3%
-
Metro
$88.32 +12.2% +0.9%

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Multifamily Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
18 -10.7% -5.6%

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Office Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
51 +0.5% -2.6%

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Industrial Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
48 -2.1% +10.2%

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Retail Property Total $ Available For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
46 -1.5% +6.9%

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Multifamily Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
43 -5.8% -1.0%

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Office Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
83 -0.7% +4.4%

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Industrial Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
61 0.0% +2.8%

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Retail Property No. of Listings - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
55 -2.7% -6.4%

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Multifamily Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
149 +20.9% +5.6%

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Office Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
183 +18.8% +9.9%

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Industrial Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
258 +27.7% +27.8%

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Retail Property Profile Views (Demand) - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
164 +14.8% +1.0%

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Office Property Total SF Available - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
73 -0.5% +4.4%

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Industrial Property Total SF Available - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
53 -7.3% +2.8%

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Retail Property Total SF Available - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
56 +0.4% +3.5%

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Multifamily Property No. of Units For Sale - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
19 -17.8% -0.6%

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Multifamily Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
169 -6.9% +7.1%
-
Metro
163 -5.2% -3.2%

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Office Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
264 -9.4% +0.6%
-
Metro
285 -6.4% +0.3%

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Industrial Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
297 -4.3% -1.2%
-
Metro
292 -2.3% -10.7%

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Retail Property Days on Market - Sale Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
195 +0.0% -12.8%
-
Metro
201 -2.0% +1.1%

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Office Property Asking Rent - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$16.95 +1.1% +1.6%
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Metro
$18.52 +1.2% +3.6%
-
County
$21.96 +2.8% +5.8%
-
City
$22.19 +3.2% +6.8%

The average asking rental rate per sq ft/year for Office properties in Philadelphia, PA as of Feb 16 was $22.19. This represents an increase of 3.2% compared to the prior 3 months, with an increase of +6.8% year-over-year. County-wide, average rental rates in Philadelphia are +2.8% higher at $21.96 per sq ft/year for Office properties currently for lease.

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Industrial Property Asking Rent - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$5.52 -0.6% +2.2%
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Metro
$6.44 -0.1% +1.1%
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County
$4.78 -8.6% -12.1%
-
City
$5.16 -8.5% -9.2%

The average asking rental rate per sq ft/year for Industrial properties in Philadelphia, PA as of Feb 16 was $5.16. This represents a decrease of -8.5% compared to the prior 3 months, with a decrease of -9.2% year-over-year. County-wide, average rental rates in Philadelphia are -8.6% lower at $4.78 per sq ft/year for Industrial properties currently for lease.

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Retail Property Asking Rent - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
$14.00 0.0% +1.0%
-
Metro
$15.80 -0.5% 0.0%
-
County
$18.86 +1.9% -1.0%
-
City
$19.28 +2.4% -1.2%

The average asking rental rate per sq ft/year for Retail Commercial properties in Philadelphia, PA as of Feb 16 was $19.28. This represents an increase of 2.4% compared to the prior 3 months, with a decrease of -1.2% year-over-year. County-wide, average rental rates in Philadelphia are +1.9% higher at $18.86 per sq ft/year for Retail Commercial properties currently for lease.

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Office Property No. of Spaces - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
87 +3.3% +3.9%

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Industrial Property No. of Spaces - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
70 +1.1% +1.4%

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Retail Property No. of Spaces - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
117 +1.7% +6.4%

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Office Property Profile Views (Demand) - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
380 +10.0% +3.1%

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Industrial Property Profile Views (Demand) - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
320 +17.0% +13.3%

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Retail Property Profile Views (Demand) - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
341 +15.7% +4.3%

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Office Property Total SF Available - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
71 +7.4% +7.0%

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Industrial Property Total SF Available - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
47 +0.1% -3.7%

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Retail Property Total SF Available - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
Metro
102 +1.8% +9.5%

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Office Property Days on Market - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
246 -10.7% -5.4%
-
Metro
259 -11.3% -4.8%

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Industrial Property Days on Market - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
237 -8.3% -20.1%
-
Metro
248 -12.5% -15.2%

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Retail Property Days on Market - Lease Trends

  Feb 16 vs. 3 mo. prior Y-O-Y
-
State
332 -1.0% +15.7%
-
Metro
310 -7.9% -7.9%