A small number of condos in prime Center City zip codes have not appreciated over the past decade+/–
In my 33 years of selling Center City real estate, I can tell you that value growth/appreciation is a priority for most buyers when purchasing a Center City condo: Many buyers rank appreciation as a reason to purchase. On the whole, most condos have appreciated, though any gains are an odd confluence of timing, visual presentation, and a dash of dumb luck.
.*Timing: Often, a number of similar, competing properties are on the market when you list your home. If fewer options exist, your appreciation will be markedly higher. Supply and demand for a particular product are very fluid. One day there are a half dozen two-bedroom corner units at Hopkinson House, and six months later, there are none.
*Visual Presentation: This is the big enchilada. The easiest path to zero appreciation is to make your home look like a frat house. Dirty and ugly will sink appreciation in a snap. I see it weekly.
*Dumb Luck: You bought your home at a great price. The upgrades you’ve done are perfect. A condo, just like yours, recently sold in your building at a record price. Your decorating really resonates with many buyers. You hit the market the same weekend as your future buyer booked a flight to Philly (happens more than you think).