Residential Real Estate & Development
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Greater Philadelphia Tops National Housing Market Price Growth in January
Greater Philadelphia saw the strongest home price growth among 40 major metro areas in January, with prices rising 8.6 percent year over year, writes Ryan Mulligan for the Philadelphia Business Journal. In January, the region’s median home price increased to $380,000, up from $350,000 a year earlier. According to a recent report from Homes.com, this…
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Center City’s Largest Apartment Tower Goes Up for Sale Again After 4 Years
Center City’s largest apartment tower, on 1500 Locust Street, is back on the market four years after it was last traded, writes Paul Schwedelson for the Philadelphia Business Journal. The 605-unit, 45-story building was acquired by New York real estate firm Fairstead and Minneapolis investment company Castlelake for $233 million back in December 2021. It…
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Philly Homeowners Stay Put Longer, With Average Tenure Hitting 9.5 Years
Homeowners in Philadelphia are remaining in their homes longer than at any time in at least twenty years, with the average tenure now sitting at 9.5 years, write Mike D’Onofrio and Sami Sparber for AXIOS. In 2005, homeowners typically spent less than four years in their residences before deciding to move. These days, long tenure,…
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House of the Week: Striking Townhouse in Society Hill
A striking townhouse set on a lovely 871-square-foot lot with three bedrooms and three and a half bathrooms is available for sale in Society Hill. This stunning residence combines classic charm with modern sophistication and is just steps from the historic beauty of Washington Square Park. Elegant details include marble entryways, soaring ceilings, custom storage,…
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House of the Week: Grand Federal Townhouse in Heart of Rittenhouse Square
A grand federal townhouse set on a lovely 2,178-square-foot lot with five bedrooms and five full and four half bathrooms is available for sale in Rittenhouse Square. This magnificent residence perfectly blends historic charm with modern luxury. The many refined details throughout include soaring ceilings, heated hardwood floors, marble fireplaces, and expansive windows that allow…
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New Report Details Who Has Been Moving Into Center City’s New Apartment Buildings
Center City has seen a major influx of new apartments in recent years and a new report breaks down the demographics of the individuals who have been moving into them, writes Molly McVety for PhillyVoice. A recent survey published by the Center City District shows that Philadelphia has been attracting many new residents from other…
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After Sonder’s Collapse, Witherspoon Building Returns to Long-Term Rentals
The 186-unit Witherspoon Building has transitioned from short-term rentals into a more traditional leasing model following the sudden collapse of Sonder Holdings, writes Emma Dooling for the Philadelphia Business Journal. SSH Real Estate, which owns the Center City building in partnership with Young Capital, is now repositioning the property as a traditional rental asset. According…
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Philadelphia Metro is One of 10 Job Markets Setting the Stage for Strong Housing Demand in 2026
Of the numerous factors that impact the housing market, one is emerging as particularly important for 2026: employment. Employment strength is the driver behind buyer confidence, income growth, and, ultimately, housing demand. Conversely, slower hiring, layoffs, and rising unemployment have a direct correlation to weaker housing markets. With this logic, NewHomeSource parent company Zonda produced…
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House of the Week: Stunning Contemporary in Wynnefield
A stunning contemporary home on a lovely 9,583-square-foot lot with five bedrooms and three full and two half bathrooms is available for sale in Wynnefield. This striking residence exudes sophistication and modern elegance, designed to impress while also having exceptional privacy and security. Refined features include hardwood floors, soaring ceilings, and oversized rear windows. .…
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Renovated Chestnut Hill Estate with Marble Baths, Infrared Sauna Listed At $4.25 Million
A recently renovated home in Chestnut Hill, one of Philadelphia’s most affluent neighborhoods, has hit the market for a whopping $4.25 million, writes Ryan Mulligan for the Philadelphia Business Journal. Dating back to the 1880s, the home spans around 8,500 square feet across three floors and has been given a full facelift over the last…
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Scarcity and Celebrity Influx Send Value of New Hope Riverfront Homes Skyrocketing
Prices for riverfront homes in New Hope have surged in recent years, driven by limited inventory and a growing influx of celebrities to the charming Bucks County town, writes Ryan Mulligan for the Philadelphia Business Journal. The recent sale of a Delaware River property for $9.5 million highlighted the durability of higher home prices in…
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House of the Week: Lovely Contemporary in Chestnut Hill
A lovely contemporary home set on an attractive acre with four bedrooms and five and a half bathrooms is available for sale in Chestnut Hill. This refined residence blends contemporary style with timeless appeal, creating a comfortable yet elevated living experience. Thoughtful details include expansive window walls, marble finishes, architectural cabinetry, and integrated built-ins that…
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Philadelphia Housing Authority, Housing Unions Reach $100M Deal To Transform Brith Sholom House
The Philadelphia Housing Authority has reached an agreement with unions representing housing workers to rebuild the decaying Brith Sholom House in Wynnefield Heights, writes Tom MacDonald for WHYY. Severe disrepair under its former owners ultimately forced the closure of the 340-unit senior living building in November 2024. At the time, roughly 100 residents were living…
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House of the Week: Lovely Colonial in Roxborough
A lovely colonial home set on 0.76 attractive acres with five bedrooms and four bathrooms is available for sale in Roxborough. This tranquil residence is part of an intimate, nature-focused enclave designed to balance modern comfort with a peaceful setting. Thoughtful details include refined finishes, careful craftsmanship, and an overall design approach that emphasizes quality,…
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Mount Vernon-Inspired Sellersville Estate Prepares to Hit the Market for $3.3M
A Mount Vernon-inspired estate in Sellersville, set on 35 acres and recently updated through a multimillion-dollar renovation, has been listed for $3.295 million, writes Ryan Mulligan for the Philadelphia Business Journal. Built in 1987, the 6,137-square-foot home is flanked by two stone barn-like structures, one with a full bar and loft with the other currently…
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Yolanda Hadid Withdraws Her “Sanctuary” Farm in New Hope from Market
Three months after listing her “sanctuary” for sale, Yolanda Hadid decided to withdraw the $10.88 million New Hope farm from the market, writes Kelsi Karruli for Realtor.com. In September, the former Real Housewives of Beverly Hills star said that she was prepared to move on from her New Hope home, where she had lived for…
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Former Exton Office Building Converted into 32-Unit Apartment Building
A vacant office building in Exton has been redeveloped into a suburban rarity, an apartment building with 24 studio units and eight single-bedroom apartments, writes Joseph N. DiStefano for The Philadelphia Inquirer. Ownership of the building rests with a group led by local real estate lawyer David McFadden, broker John McGee, and investment partner Chiu Bai. The group hopes…
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House of the Week: Unique Converted Contemporary in Fairmount
A truly unique contemporary home set on a lovely 5,663-square-foot lot with three bedrooms and two and a half bathrooms is available for sale in Fairmount. This remarkable residence has an unexpected composition of historic structures thoughtfully unified into one distinctive living environment. This blends heritage architecture of a Victorian home, an 1877 blacksmith’s shop,…
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