Real Estate Study Reveals Demand Is High For Coveted Philadelphia Properties

It doesn’t matter which section of the city you look toward, Philadelphia real estate is enjoy a renaissance. The driving factors behind this are varied: A reputation as being generally safe; the ease of finding employment; efficient public transportation system and high-profile events that have picked the City of Brotherly Love as host. It should come as no surprise then that data from real estate website Zillow places Philly as one of the best places to buy real estate in the U.S. This is backed up by growth in new construction townhouses around Philadelphia and the prices of property for sale. According to local media reports citing the Zillow study, the median home value in the city $218,500. That’s an increase of four percent from this time in 2016, but almost inexplicably down from the peak value of $230,000 in September 2006.

Another Zillow study found that the inventory of places for sale in the city is at its lowest point ever. As such, it makes sense why so many folks are looking for Philadelphia luxury homes for sale. In fact, Zillow Chief Economist Dr. Svenja Gudell told real estate website Curbed Philly that, “Bidding wars and homes selling for over asking price have been common themes in many markets this summer, and continued competition in the face of limited supply will only continue to push home values up going forward.” To find the best stock in Philadelphia luxury homes, you may need to expand your search beyond Center City and Queen Village. That’s because new construction townhouses around Philadelphia come with all of the amenities and then some within the 3,500-plus square feet inside.

Imagine a semi-private construction with  landscaped grounds, hardwood floors, a covered balcony, custom cabinets, marble countertops, a two-car garage, laundry room, walk-in closets and easy access to the Wissahickon trails. When you search for the best that Philadelphia-area construction has to offer, there’s  no question that the above hallmarks should be on your shortlist of considerations. Additional media reports on the Zillow study found that Denver, Colorado’s median home value is more than 50 percent higher than it was in 2006. Instead of running the risk of finding real estate to buy in an overpriced city, we suggest spending time researching Philadelphia luxury homes to find a property that meets your needs. A quick survey of the city’s current landscape would reveal that Philadelphia is undoubtedly on an upward path; don’t you want a place within to call home?