Real Estate News

This section was specifically created by the Center City Team to provide the most up to date real estate news and data pertaining to the Philadelphia community. Find all of the real estate related news impacting Philadelphia and the surrounding suburbs.

We hope you enjoy the information we offer! If we can help you in any way, please speak with one of our talented real estate agents, or directly contact the Center City Team office: 215.440.2093

July 26, 2011

Case-Shiller Shows Home Price Increase in May

Case-Shiller Shows Home Price Increase in May.     Calculatedrisk.com is reporting that Case-Shiller released the monthly Home Price Indices for May and they show an increase in home prices.  This represents  a second consecutive month of increase in prices for the 10- and 20-City Composites. The 10- and 20-City Composites were up 1.1% and 1.0%, respectively, in May over April. […]
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July 26, 2011

Philadelphia Waterfront Real Estate Finally Getting a Facelift

Philadelphia Waterfront Real Estate Finally Getting a Facelift.   According to PlanPhilly.com, a complete draft of the Central Delaware Waterfront Master Plan has been published and can be found here.  The Delaware River Waterfront Corporation is the quasi-city agency that manages the city’s property along the river and the long-term planning for the entire Central Delaware, from Oregon to Allegheny avenues. […]
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July 26, 2011

New Philadelphia Senior Housing Coming to Italian Market Area

New Philadelphia Senior Housing Coming to Italian Market Area. NakedPhilly.com has an article discussing how councilman Frank DiCiccio has proposed the building of a 64 unit apartment that will provide affordable senior housing on a city owned lot at 921-927 Ellsworth Street.   The entire parcel is 22,000 square feet and will include 25 parking spots.  The builder is BCM […]
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July 25, 2011

University of Pennsylvania Real Estate Development Progressing Nicely

University of Pennsylvania Real Estate Development Progressing Nicely. In Philadelphia development news, Penn Park, the new urban park east of the Highline and stretching from Walnut Street to South Street features featuring a fabric of tightly interwoven recreation and athletic components is coming along nicely.  This is great news for a number of reasons. First, Penn and Drexel’s long term […]
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July 24, 2011

President Obama Considers Renting Philadelphia Foreclosures

President Obama Considers Renting Philadelphia Foreclosures Wouldn’t this be a strange twist for the Philadelphia Apartment market.  According to the Wall Street Journal the Obama administration is examining ways in which foreclosed properties could be rented.  The hope is that renting these homes and taking them off the market will reduce high inventory levels thereby helping to stabilize the housing market.  This […]
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July 23, 2011

Philadelphia Multifamily Real Estate Selling

Philadelphia Multifamily Real Estate Selling. I’ve been saying for months that the Philadelphia real estate investors are out in droves based on nothing but purely my own anecdotal research and now it seems the data shows an increased demand for multifamily housing nationally.  Makes sense given the economic and employment uncertainty.  Why not purchase a multifamily property and have additional […]
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July 22, 2011

Philadelphia Development at Intersection of Broad St. and Washington Ave.

Philadelphia Real Estate Development at Intersection of Broad St. and Washington Ave. I’ve been hearing a lot of chatter lately and have been asked by several clients what is going on with the lots on the corner of Broad and Washington.  Obviously their size and location make them unique development opportunities.  The following comes from a reliable real estate tipster who […]
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July 21, 2011

Philadelphia Real Estate One Liners July 21, 2011

 Philadelphia Real Estate One Liners – July 21, 2011   Toll Brothers, nearing completion of Naval Square in Graduate Hospital, is proposing a development project at 2400 South Street where they intend to knock down the existing buildings and build 122 townhomes and condos with ample parking.  (www.NakedPhilly.com) Philadelphia ranked 5th on the 2011 Walkscore.com poll of the most walkable cities […]
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July 21, 2011

Pennsylvania Real Estate Closing Costs 9th Most Expensive in U.S.

Pennsylvania Real Estate Closing Costs 9th Most Expensive in U.S. According to a Bankrate.com survey Pennsylvania Real Estate Closing Costs are the 9th most expensive in entire U.S with an average cost of $4,522. Researchers requested a good faith estimate for a $200,000 loan, assuming a 20 percent down payment and good credit.  This chart does not include taxes, other government […]
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