Not all Philadelphia Condominiums are created Equal
Various segments are performing better than others in today’s marketplace.
In a time of transition, where no one is quite sure if it is a buyer’s market, or the start of a new seller’s market. I would argue that it depends on what market segment we are talking about. For instance, there are so few two bedroom Fitler Square condo units west of 22ND st. between Market and South St., that those coming on the market are going to sell fairly well. Not the case for say a $675,000 condo in the 19123 zip code. The equation will always hinge on supply and demand. And the defining of “Buyers Market” or “Sellers Market” by any local big-brain has got to be tempered with the overall supply in that segment of the market (segment defined primarily by location and price). In addition, the time of year the condo is marketed, and the ability to readily substitute a given condo in terms of bed/bath count and interior condition. Simultaneously, it is possible to have a buyers market and a sellers market at the same time- depending on the dynamics of that particular condominium market segment.
Here in Center City Philadelphia, the old saying of “All Real Estate is Local” could easily be termed “All real estate is a lot more local than you think”.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106
