The Philadelphia region's real estate market was less susceptible to the recent boom-and-bust real estate cycles than many other metro areas'. Based on regional averages, a local home purchased for $200,000 at the beginning of 1999 is worth almost $400,000 today. That trails the current values of similar purchases in the Miami, Las Vegas, and Phoenix areas, but those regions also experienced far greater price volatility. Values for home purchases within Philadelphia outperformed the metro area as a whole, reflecting the strength of the city's housing market.
Price of a home valued at $200,000 in the first quarter of 1999