Discover the Philadelphia Condo Market!

Welcome to the vibrant and diverse world of Philadelphia's condominium market! Whether you're a first-time buyer or a seasoned investor, you'll find something that suits your taste and lifestyle in the City of Brotherly Love.

Types of Condo Buildings

  1. High-Rise: If you're looking for luxury and convenience, high-rise condos are your go-to. Concentrated in Rittenhouse Square and Center City, these 9+ story buildings often feature 24-hour door staff, pools, gyms, and parking garages. High-end options include The Laurel and 2100 Hamilton, while more budget-friendly choices are the Dorchester and Society Hill Towers.
  2. Mid-Rise: Mid-rise buildings, typically 5-8 stories, offer a balanced lifestyle. While amenities like a gym or rooftop deck are sometimes available, don't expect a pool or 24-hour door staff. Old City has the highest concentration of these. Many mid-rises are lofts converted from factories or warehouses. Good examples are the White Building, the Rebman Building and Beaux Arts Lofts. They are also more conventional mid-rises such as the Willings and the Moravian
  3. Low-Rise: For a more intimate setting, consider low-rise condos, usually 1-4 stories high. These are often converted townhomes with limited amenities but can offer spacious units over 1500 sq ft in fashionable neighborhoods.

KEY STATISTICS

  • Stats for Current Sales, Prices, $/Sq Ft, Days on Market and Months of Inventory: See Charts Below
  • Median Beds/Baths: 2/2
  • Median Square Feet: 1130
  • Parking Included: 32%

New Construction & Tax Abatement

Currently, there are three luxury high-rises under construction: 2100 Hamilton, Arthaus, and the Laurel. These developments add roughly 200 new units to the market. The New Construction Tax abatement is still available and the buildings above get the full abatement. Developments that filed for the abatement after 1/1/2022 get the full abatement for the first year but it decreases by 10% each year thereafter. New construction has accounted for 10% of condo sales in Philadelphia in 2023

What Makes the Philly Condo Market Unique?

  • Architectural Diversity: From high ceilings and historic details to clean, modern designs, there's something for everyone.
  • Affordability: With units ranging from 325 sq ft studios for < $100,000 to 4+ bed/4+ bath penthouses for over $16,000,000, the market is incredibly diverse.
  • Community: Each neighborhood has its own unique charm, whether it's the historic allure of Old City or the trendy vibes of Northern Liberties.
  • Size of the Market: There are roughly 42,615 condos in Philadelphia zip codes per public records in Fall of 2023. On the Main Line there are roughly 8,320 units, less than 1/5th the size of the Philadelphia market. The size of the Philly market is one reason for the diversity of the buildings and units .

Advice to Buyers

Philadelphia's neighborhoods vary greatly in vibe and price. Take time to explore and find an area that resonates with you. Also, consider what amenities are important to you. Whether it's a gym, parking, or a rooftop deck, different buildings offer different perks. So, what are you waiting for? Dive into Philadelphia's condo market and find your dream home today!

Condos by Neighborhood

Gallery of Philadelphia Condo Developments

Philadelphia Condo Map

Philadelphia Condo Real Estate Statistics

Current Philadelphia Condo Market Picture

Philadelphia Lofts

Access Condo Developments by Name

Philadelphia Condos for Sale Statistics July 14, 2024
755
Listed
123
Avg. DOM
$501.67
Avg. $ / Sq.Ft.
$400,000
Med. List Price
755 Properties
Page 1 of 63

Philadelphia Condo Map

The map below has layers for the neighborhoods in the city that have a significant number of condominiums. Use the icon to the left of the title to access the layers. Select and deselect layers and zoom in or out with your mouse to display condos for your neighborhood of interest. Click on individual icons in the map to see detailed information about that building and access listings for the given building by clicking on the website link in the detailed information. Rittenhouse Square and Washington Square West are the initial neighborhoods on the map. Others will be added

Philadelphia Condo Gallery

...

Condo Sales Last 2 Years

Median Condo Price Last 2 Years

Median Condo Days on Market Last 2 Years

Condo Months of Inventory Last 2 Years

Median Condo $/Sq Ft Last 2 Years

Current Philadelphia Condo market Stats

Since there is an inherent lag in real estate sales statistics due to the time between contract signing and settlement, statistics on contract signing and price changes are presented below. The Under Contract column below is a good measure of how many homes are being signed to a purchase contract. It includes homes that have changed state from Active to Active under Contract and those that have changed from Active to Pending. The Price Decrease column shows the number of properties taking price decreases in the given period. Sellers would do this in order to sell their homes.

The information being provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. Berkshire Hathaway Home Services, Fox & Roach Realtors is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Berkshire Hathaway Home Services, Fox & Roach Realtors, a broker participant of Bright MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited.

Copyright 2024 Bright MLS. All rights reserved.