5 Fast Facts About Our Condo Market /August Sales Stats / 
Wire Fraud Is Now A HUGE Concern /

Your Center City Condo Newsletter- August 2017

Five Fast Facts About Our 
Center City Condo Market

1) Most condos in town average a sale price around 97%-100% of asking price. Most...not all.

2) Original and clean is almost always as good as newer and trashed in terms of value retention and demand. Mint condition condos from the 1970's will garner a good offer. Doesn't need to be new, but it does need to show well.

3) Never in my 29+/- years of selling condos has a buyer asked for  VALET parking. Not once. Parking yes, valet...no.

4) The number one AMENITY requested by empty-nesters?  It ain't parking. A lack of stairs would be the correct answer.

5) CASH is KING...and a hell of a lot more common than most   buyers realize - especially over the $1M price range.

Wire Fraud Has Hit A Number Agents!

 We get alerts often from our parent company warning about the growing need for added security when it comes to wire fraud that seems to be hitting the real state industry pretty hard.

Unsuspecting buyers are sending money  and it ended 
up in the wrong hands.

Here's A Tip- Don't Wire Me any *&#% Money

Watch this YouTube Video on how NOT to be a victim-


Visit My Website:
 Serious Comp Data For 
The Real Estate Junkies
...You Know Who You Are

Northern Liberties

Five MORE Fast Facts About 
Our Condo Market

1) Inventory is dry as a bone. More units sell each week than come on the market. THAT fact has been true for EVERY week since February 2017.

2)  The Hopkinson House remains the KING of condo demand and sales (In my opinion). A frenzy on a recent unit garnered multiple offers and I have NEVER (in my 29 years) lost a bid with a cash, no contingency offer that was WAY over asking. Never. I did this time. 

3) It is possible for new condos to depreciate after (say) a year of being sold. A buyer will pay  a premium for unit that has never been occupied/is not a resale.

4)  If the spring market was hot, the fall market of that year will also be hot. Just at about 75% the pace though.

5) August is the slowest month of the year for condo sales in town - not December. If someone has the $$ to buy a condo, they also have $$ to sit their butt on the beach somewhere.

6) If you are holding your breath for a new condo around say $600 a square foot. Yeah, good luck with that. Ain't happening anytime soon. In a sea of Toyotas and Mercedes, what we see coming down the pike are Bentley's and Rolls Royce priced condos.

There's Six. Counting has never been my strong point. Oh here is a bonus one....the most under utilized amenity in any condo building here in Center City?   Swimming Pool. Hands down.


Mark Wade 
Still at the same firm for 28 years. Clearly, they
think having me is a good idea
 ...which is a surprise to many, I'm sure.

BHHS Fox & Roach Realtors
Society Hill Office

215.521.1523 direct


The best time to get me is in the AM 
when I'm hopped up on four
cups of Maxwell House.