June 2019 Market Update
Its summertime, the kids are home from school, vacations are planned and the AC is working overtime. While the weather has been hot, let’s take a look and see if the real estate market is seeing similar trends.
WHAT’S HAPPENING NOW
“Inventory continues to dominate the market when comparing the conversation in regards to the market. This has been an ongoing talking point for the past two years for buyers and sellers. We are seeing however that the pace of inventory h... read more
In June Philadelphia Energy Solutions made national headlines following a fire at the largest refinery on the east coast. The explosion produces a fireball so overwhelming that it registered on the National Weather Service’s infrared satellite and transformed the Southern Philadelphia skies into a bright orange glow.
The Philadelphia Energy Solutions refinery on the Schuylkill waterfront is set to be decommissioned in late 2019, which may open up more than 1,400 acres of prime waterfront real estate. The refi... read more
Bucks County Commissioners Approve Federal HUD Grants
The Bucks County Commission voted to approve a plan to distribute more than 3 million dollars in grants from the Department of Housing and Urban Development. These grants are provided to the county by HUD to help alleviate housing pressures. While low-income Bucks County residents and senior citizens are the primary beneficiaries, HUD projects often act to beautify and uplift communities through the economic benefits of new development and long-term housing sus... read more
Comcast-owned Spectacor announced that they are going to begin construction on the first gaming-exclusive arena in the United States, for Philadelphia's Fusion e-sports team. The project is slated to cost up to 50 million dollars and is a tangible reminder of the substantial growth in the popularity of e-sports, where gamers challenge each other in video game contests in front of packed arenas.
Spectacor is set to break ground on the project in the summer of 2019 at the complex stadium site in South Philly. The ne... read more
May brought spring into full-swing and had kids looking forward to the summer. Many spent their days revitalizing their gardens and opening the pool for the season. With everyone looking forward to summer vacations and plans let’s look back at the market for the month of May.
WHAT’S HAPPENING NOW
“Inventory shortage continues to be a highlight when discussing the market. The rate of decline is narrowing when compared to the trends we saw in both 2017 and 2018” stated Jamie Manc... read more