If this doesn’t illustrate the problem, I don’t know what does:
Sales more than $1 million in Philadelphia climbed 31 percent to 122 deals in the 12 months ending September 2012, according to data from Zillow Inc. Nine of those agreements were for properties priced more than $3 million, the most since at least 2007. This year so far, eight units at $3 million or more sold at either 10 Rittenhouse Square or 1706 Rittenhouse Square, according to Philadelphia property records.
H/t to Jason Kalafat.
