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OWNERSHIP SALES, 2015

FRANKLIN COURT, 7TH AND FAIRMOUNT

In 2015, 3,220 new and existing homes changed hands in brokered sales in Greater Center City, a 16% increase over 2014. Seventy-five percent of these were in the Extended Center City neighborhoods, with 52% of the total number of transactions occurring between Pine and Tasker Streets, an area that also experienced the greatest increase in transactions. Average sale prices in Greater Center City rose a modest 1% to $430,000. The number of days properties stayed on the market declined by 5% in the last year, but dropped significantly from 81 days on market in 2013 to 66 days in 2015.

EVEN AS NEW SINGLEFAMILY UNITS HAVE BEEN ADDED, SALES OF EXISTING HOMES HAVE ACCELERATED AND PRICES HAVE RISEN.

Peter Tobia

FIGURE 6: BROKERED RESIDENTIAL SALES AREA

SALES 2014

SALES SALES 2015 CHANGE

AVG PRICE 2014

AVG PRICE 2015

PRICE CHANGE

DAYS ON MARKET 2014

DAYS ON MARKET 2015

DAYS CHANGE

CORE CENTER CITY

741

785

6%

$597,875

$602,970

1%

91

81

-10%

East of Broad

409

370

-10%

$703,047

$700,637

-.3%

94

87

-7%

West of Broad

332

415

25%

$468,311

$515,893

10%

87

76

-13%

2,031

2,435

20%

$363,486

$374,328

3%

62

61

-2%

Extended Center City, North

666

756

14%

$355,948

$375,825

6%

70

67

-5%

East of Broad

224

266

19%

$383,458

$431,658

13%

80

73

-9%

EXTENDED CENTER CITY

West of Broad

442

490

11%

$342,007

$345,516

1%

65

63

-3%

1,365

1,679

23%

$367,164

$373,654

2%

58

59

1%

East of Broad

584

711

22%

$419,419

$424,389

1%

60

65

8%

West of Broad

781

968

24%

$328,089

$336,389

3%

57

54

-5%

2,772

3,220

16%

$426,142

$430,068

1%

70

66

Extended Center City, South

GREATER CENTER CITY

-5% Source: Trend MLS

6

CENTER CITY DISTRICT & CENTRAL PHILADELPHIA DEVELOPMENT CORPORATION WWW.CENTERCITYPHILA.ORG


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