Median single-family home prices in Philadelphia’s neighborhoods, especially Center City, have fallen 15.8 percent – much less during this downturn in housing than the last one in the late 1980s to mid-1990s – said Kevin Gillen, vice president of Econsult Corp., who collected and analyzed data from 376,257 sales regionwide from April 1, 2005, through June 30, 2011.
But lower-income neighborhoods have suffered more than their upscale counterparts, Gillen said, as the struggling economy has edged out less-well-off buyers.
“The tightening of credit has skewed home sales toward the upper end of the market,” Gillen said. “So when you compute the average price decline for the entire city, versus computing the average price decline across all zips [zip codes] in the city, you get two different numbers.” – Philly.com’s In Center City, home prices holding their own
They also have a very insightful interactive map that is worth playing around with: