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July 17, 2012

Two New Big Trends in The Center City Condo Market

Filed under: Center City Real Estate,For Buyers,For Sellers,State of Marketplace — Center City Philadelphia Real Estate Agent @ 1:19 pm

1) The Move-Up Buyer

Ten years ago, these younger Center City folks with growing families would have a child or two, and BOOM- they were destined for the ‘burbs. Not always the case any longer as Center City Condos become more “Kid Friendly” and popular with the younger family set. These buyers tend to already live in town, and simply move into larger quarters, while remaining inside the downtown area.

2) The Out -of -Towners

Becoming much more common than most current Center City owners are aware. These buyers are looking for an urban weekend place. Generally empty nester folks who have done the beach and the burbs, and are now excited about buying their second or third home in Center City. Space is usually not a huge issue for many of these buyers, but walk-ability ranks very high on their list of priorities.  I also find that many gravitate towards less than “full service” buildings as they look to avoid full service condo fees.  And usually (I am generalizing here) will swing more towards hip and groovy interiors.

Mark Wade
www.CenterCityCondos.com
Prudential Fox And Roach Realtors
530 Walnut St. #260 Phila., PA 19106

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530 Walnut Street, Suite 260
Philadelphia, PA 19106
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