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In today's real estate markets, condominiums are desired by home buyers. It is also a buyers market where the prices have declined from the highs of mid 2007. With the recent financial meltdown in the US, the prices have become more affordable for even the luxurious Philadelphia condominiums.

With customization and many amenities such as pools, spas, fitness center, and parking garage, condos offer single family or a retiree good living space. In Philadelphia, the modern urban living and many attractions such as shopping and dining makes Philadelphia condominiums more attractive bargains.

Philadelphia is home to rich American History, it is the birthplace of American Democracy and home to many famous Americans like Benjamin Franklin. There is over supply of inventories of unsold homes in Philadelphia, but condos are changing hands between the buyers and sellers not as robust as in the past.

With current drop in prices of Philadelphia condominiums, many developers are offering upgrades and other incentives to move unsold condos. In the short term, market seems to be in roller coaster ride, but in long term, the market looks pretty good for those who have long term horizon. But be sure this buyers market won't last as the economy rebounds in coming years.

One of the areas in Philadelphia condo market where the price is holding its value is Rittenhouse square or tow blocks from it, other areas are seeing prices down anywhere from 10 to 20 percent. There certainly is over abundance of supply, but with recent rate cuts, first time buyers will have favorable conditions to buy.

But luxurious condos on the other hand is showing a tight market, where there is not enough to show to potential buyers. The market will soon pick up after the winter has past and sales will begin to pick up during the spring time, usually time when people begin to look for new housing or to move.