Daily News | Multimillion-dollar home sales in Philly have reached record levels as prices and remote working increase
Philadelphia continues to attract wealthy home buyers, and in the first quarter of this year, sales of million-dollar homes hit a record.
“People have the confidence, and they want to invest here,” she said. “The values in Philadelphia are still incredible.” About 41% of homes in the city that sold in 2021 cost between $250,000 and $500,000, according to an analysis of sales data by the Center City District, which manages and cares for the downtown area. About 38% of homes that sold last year cost between $100,000 and $250,000. Roughly 2% cost more than $1 million.
“In the past five years, especially now with all this new construction, we’re seeing so many more residential units” selling in the $5 million to $8 million range, she said.
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