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March 28, 2016

New construction affecting views?

Filed under: Center City Real Estate,For Buyers,For Sellers,General Real Estate — Center City Philadelphia Real Estate Agent @ 11:20 am
So there has a image1been a lot of talk recently within my circle of condo buyers in town about how the views of south facing units at the Ritz Carlton will be affected by the new building being erected to the south.
This really only affects “A” units at the Ritz which face south and east. I was able to find an image showing what the views might one day look like.
In my opinion, when that new building is erected and buyers can actually see that it will be some 53 feet in distance from the Ritz- the effect on value(s) for the south facing condos will really not suffer a great deal.
I think the “unknown” may be more damning that the reality of what is going to be built.
My suggestion- throw some caution to the wind and look at the “A” units while you can and while their pricing may be a bit suppressed by the “unknown” element – that being partially blocked views.

• • •

March 7, 2016

Here are a few staggering facts about our 2016 market here in town-

Filed under: Center City Real Estate — Center City Philadelphia Real Estate Agent @ 10:40 am

Monthly Statistics for the Date Range Selected

Date

Units Listed

Listed Volume

Listed Average

Pended

Units Sold

Sold Volume

Sold Average

Average DOM

Mar 2016

60

34,014,338

566,905

7

19

8,487,745

446,723

46

Feb 2016

404

211,682,356

523,966

217

193

78,104,903

404,688

65

Jan 2016

349

180,084,581

516,001

251

200

84,096,786

420,483

82

Totals:

813

425,781,275

523,716

475

412

170,689,434

414,294

72

 

 

 

 

 

 

 

 

 

 

Inventory Accumulation for the Last 12 Full Months

 

 

 

 

 

Current Inventory *

Inventory Volume

Current Average

Average Monthly Sales**

Inventory Accumulation ***

1118

713,440,162

638,139

257

4

*Current Inventory is based on the actual available properties on the date this report was created.

**Average Monthly Sales is the average sales for the last 12 full months

***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales

 

 

Pricing Details of Sold Units for the Date Range Selected

Minimum Prices

Maximum Prices

Average Prices

Original List Price : $1,400

Original List Price: $2,750,000

Original List Price: $443,083

Sold Price : $1,300

Sold Price: $2,600,000

Sold Price: $414,294

 

 

Inventory Accumulation figures are only calculated when Report End Month is the current month 

Market Statistics Criteria Used

Date Range: 1/2016 to 3/2016
Price Range: $0 to $9,999,000
Property Category: Residential
Area: 19102
19103
19106
19107
19123
19130
19146
19147

• • •

 
 

530 Walnut Street, Suite 260
Philadelphia, PA 19106
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Fax: 215.627.3142
Email: Mark@CenterCity.com
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