The condo market in Philadelphia is not what you might expect when you read its name.
But you can buy a house there.
What to know about the Philadelphia condo market article For years, Philadelphia was the place to buy and sell condo units.
It was a hub for tech companies and big developers.
Now, there are signs that things are changing.
The Philadelphia condo boom is over.
This year, the city’s median price for a condo rose to $1.8 million.
The median price of a detached house went up to $2.4 million.
In the past year, developers are moving in to fill that gap.
So far, developers have sold almost 5,000 units.
And while there have been signs of a condo revival, there’s still plenty of demand for detached houses and townhouses.
It’s been a tough few years for the Philadelphia market, with prices falling as the global financial crisis forced people to move.
The biggest selling point for people moving to Philadelphia is its affordable housing.
More than half of all condos in the city were built in the past 10 years, according to data from RealtyTrac.
That means it’s affordable for people who don’t have much disposable income.
The median house price in Philadelphia was $837,000 last year.
The median price is still higher than the national average of $1,300,000.
Despite those high prices, Philadelphia’s condo boom has been slow to pick up.
Many people moved to other cities in search of a cheaper place to live.
Then the real estate crash hit in 2007.
People who were already struggling moved to the suburbs.
And condo prices rose again.
Today, the median price in the Philadelphia area is $1 million.
That is nearly a 5% increase from the year before.
As developers move in, the price of condos in Philadelphia has risen to $3.6 million.