They’re baaaackkk! If the first 30+ days of 2010 are any indication of the activity we are going to see here in the Center City condo market, then I am one happy camper.
How do I know buyers are back? Simple- I look at how my website is trending with Google, and I see how many people are taking it one step further beyond just looking over my site, and actually email me for information or request a tour of some condos in Philly.
Here is what I think is happening:
Buyers have sat by the sidelines of the Philadelphia condo market for the past year. They have finally come to the conclusion that the sky is not falling, and the sun continues to rise every morning. They are getting on with their lives, and beginning to plan their future moves in terms of housing- but they are doing so with caution. The one thing I see is a clearing of the back inventory of existing condos that have been on the market for a while. Prices are getting better, and buyers are taking advantage.
Today’s Center City Condo buyers are not dumb-ass goofballs. They are not going to over pay. But they are willing to make offers on the properties that are competitively priced.
Smart sellers should take note of the increased activity, and of the buyers’ mindsets.
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106