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Sales of Philadelphia multifamily properties lose momentum in 2026

Shifting rate expectations weigh on local deal-making
Stenton Gardens, a 76-unit apartment complex in Philadelphia's East Mount Airy area, sold for $8.62 at the end of June. (CoStar)
Stenton Gardens, a 76-unit apartment complex in Philadelphia's East Mount Airy area, sold for $8.62 at the end of June. (CoStar)
CoStar Analytics
August 31, 2026 | 3:49 P.M.

After rebounding strongly in 2024, sales of Philadelphia-area multifamily properties have increasingly lost momentum over the past two years. Apartment transactions totaled roughly $982 million through July, trailing the $1.15 billion recorded during the same period in 2025 and the even higher $1.8 billion completed in 2024.

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