Philadelphia unlike many metropolitans has managed to stay above water, and by all accounts still a very stable market; despite what we hear and see on our evening news.  If you don't believe me, come into my office midday and witness agents hustling and bustling, managing listings, and shopping their buyer's around. 

Buyer's are out there.  Yes, the inventory of homes are in large supply.  Is this a buyer's market? Absolutely.  The key to real estate in this city and really any market is to set  a realistic price and realistic goals.   From December 2007 till present an average of homes in Philadelphia have stayed on the market for 92 days. 

According to Bizjornal.com $12.3 billion in development is under way in Center City and University City. The tourism industry fueled by the ever popular Pennsylvania Convention Center has benefited significantly over the pass year.  With the expansion of the Pennsylvania Convention Center underway and $75 million dollars  in tax credits given to the film industry, Philadelphia can openly spell out "Persistence".  What does this mean to you? A Philadelphian or Philadelphian at heart can expect to see more retail shops, more restaurants,  a push in a so-so job market, a growth in population, and still a stable and promising real estate market. 

Also see: The Philadelphia Inquirer  for their take on the market.