King of Prussia Likely To See Positive Residential Real Estate Trends Continue in 2021

montco rental apartments King of prussia
Image via SKYE 750 Apartments.
King of Prussia's rental market remains strong, like rentals at SKYE 750 Apartments on Moore Road.

The residential real estate market in King of Prussia and the entire region has seen one of its best years and is likely to continue this positive trend into 2021, writes Sandy Smith for Philadelphia Magazine.

The pandemic has disrupted many industries and markets but residential real estate – especially in the suburbs – has blossomed. After Pennsylvania lifted restrictions on real estate sales in May, house sales in King of Prussia exploded.

Inventory and days on market also plummeted to record lows, with sales continuing at a rapid pace even now, as people continue to search for more space.

The forecast also looks good for King of Prussia, with the majority of office workers – 78 percent – expected to go back to the office once the pandemic ends at least part of the time. Most of them will also want either to stay where they are or move closer to their workplace.

As Philadelphia’s biggest edge city and the second-largest job hub in the region, King of Prussia is likely to continue to capitalize on this shift.

Read more about real estate trends at the Philadelphia Magazine by clicking here.

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