Philadelphia Real Estate

Philadelphia, nicknamed Philly or The City of Brotherly Love is just that. Home to more than 10,334 acres of parks, the largest being Fairmount Park of which the largest tract is on the west side of the city and parallels the beautiful Schuylkill River and Wissahickon Creek and includes the Philadelphia Zoo. It is home to many national historical sites that relate to the founding of the United States, for example, Independence Hall, where the Declaration of Independence was signed, the Liberty Bell, and the home of Betsy Ross, just to name a few.

Major science museums include the Franklin Institute, which contains the Benjamin Franklin National Memorial, the Academy of Natural Sciences, the Mütter Museum, and the University of Pennsylvania Museum of Archaeology and Anthropology.

The city is one of 13 U.S. cities to have all four major sports: the Philadelphia Eagles of the National Football League, the Philadelphia Flyers of the National Hockey League, the Philadelphia Phillies in the National League of Major League Baseball, and the Philadelphia 76ers in the National Basketball Association.

Economic sectors include manufacturing, oil refining, food processing, health care and biotechnology, tourism and financial services. The city runs a large teaching hospital and extensive medical system. There are also three distinguished children’s hospitals: Children’s Hospital of Philadelphia, the nation’s first pediatric hospital, St. Christopher’s Hospital and the Shriners’ Hospital.

Philadelphia has the second-largest student concentration on the East Coast, with over 120,000 college and university students enrolled within the city and nearly 300,000 in the metropolitan area. There are over 80 colleges, universities, trade, and specialty schools in the Philadelphia region.

All this and more, making Philadelphia one of the most desirable cities in which to live.

For more information about the real estate in Philadelphia, please give me a call.

The real estate market in Philadelphia is such where it helps to know the market statistics beforehand so you can make a better home buying decision. For instance, home buyers with families constitute a large part of the real estate activity right now. Since they are going to want to find the best schools for their children, they can rely on the statistical charts that show which neighborhoods are in the most favorable school districts. This is one of the best ways to start looking for a home if you have a family.

The most popular family oriented neighborhoods in Philadelphia are at a standstill right now in regards to fluctuating home prices. There is virtually no movement in the average sales price which typically means there is no movement of homes. Since the school districts in these neighborhoods consistently get high ratings from the residents, you can safely assume that people are not selling their homes because they can’t, but because they don’t want to.

There are other neighborhoods however where the average price for a home is going up at a pretty good clip, which indicates a lot of buying and selling. Keep in mind though, when a lot of bank foreclosed property sells, it does not affect the average sales prices in this way, only when private parties are responsible for a lot of activity does this happen.

If you would like more information about the Philadelphia real estate market, don’t hesitate to give me a call.