What’s hot? What’s not? And where can you get a great deal? Here’s everything you need to know about Philly real estate right now.
By JESSICA PRESS at Philly Magazine
“We are having an inventory crisis,” Lauren Leithead tells me matter-of-factly.
The two of us are having omelets at Sabrina’s Cafe in Wynnewood, and I catch myself being pleasantly surprised by how lively and diverse the suburban crowd is at noon on a weekday. Were it not for the SUV-filled parking lot and the Lulu-clad moms streaming into Pure Barre next door, I could just as easily be at one of Sabrina’s bustling downtown locations.
“Inventory is the lowest it’s been in 14 years,” Leithead continues. She’s referring not to the dearth of Nick Foles gear on the shelves of the City Avenue Target, but to the real estate market on the Main Line, where she’s been a realtor (she’s with Keller Williams) for more than 15 years.
A few days later, Noah Ostroff echoes Leithead’s insight on the phone from the Center City office of his realty group, PhillyLiving at Keller Williams Philly. “There have been 32 consecutive months of year-over-year decline in inventory in the city,” he tells me.