_This condo quarterly market report is provided by Dr. Kevin Gillen, an economist at the Real Estate Department of the Wharton School and Fellow of the University of Pennsylvania. This is a supplement to his quarterly market report. He analyzes the Philadelphia condo market using the city’s real estate database through [Hallwatch](http://www.hallwatch.org), a watchdog group. The results are published in a research paper called Philadelphia Condo Price Indices each quarter as a public service to the Philadelphia real estate community. [Here’s the methodology [pdf].](http://www.goppelt.net/phpi/phpi_faq.pdf)_
_Its great stuff._ -Jonathan Miller
[Download the full report [pdf]](http://www.goppelt.net/phpi/pcpi3q06.pdf).
[Read the Hallwatch article on the market: Philly Condos: Prices Stagnate as Demand Softens.](http://www.hallwatch.org/news/1164671838708/index_html)
_Condo prices level out as newly completed units continue to hit the market_
* 906 units closed this quarter, a record amount, but up only slightly from prior quarter.
* Condo inventory rose to a record 2,052 units
* Average of days on market increased to a record 95 days
* The area around Center City increased 4.9%
* Center City decreased 5.6%
* Northwest decreased 0.1%
* Northeast Philadelphia increased 2.2%
