P
hiladelphia re‑emerged as one of the nation’s most sought‑after markets for buying and renting, according to Zillow’s year‑end list of the most popular U.S. real‑estate hubs. While the chart is dominated by small Midwestern towns, the city lands at No. 19, the sole major metropolis in the top 20. Zillow reports a median home price of roughly $230,000 in November, whereas the Federal Reserve’s median list price for the entire Philadelphia metro is $370,000—well below the national median of $415,000.
The city’s appeal is largely rooted in its relative affordability compared with other East Coast giants, but longtime broker Craig Lerch says Philadelphia’s charm also stems from its people and heritage. “Philly is rare,” he says. “We have grit, passion, love and history.”
Lerch, who has sold more than 4,000 homes over 36 years, hosts “Selling 215 — Made in Philly,” a 30‑minute series that premiered last month on Real Shows Network (RSN). RSN, a spin‑off of Ignite Now Media, offers local agents a platform to showcase their markets; the network already produces shows in Chicago, Houston, Nashville and Silicon Valley. Episodes air first on Philly 57, then on YouTube and other streaming services.
In the debut episode, Lerch tours a luxury condo on the 43rd floor of the Laurel in Rittenhouse, the Renaissance Estates townhomes in South Philly’s Packer Park, and Stephen Starr’s new Italian restaurant Borromini on Rittenhouse Square. He also visits the Italian Market, Angelo’s Pizzeria, and John’s Water Ice, interviewing owner Danny DiGiampietro and third‑generation proprietor Anthony Cardullo.
At Borromini, Lerch speaks with developer and former City Councilmember Allan Domb, who helped reshape Rittenhouse Square in the late 1980s and early 1990s. Domb converted the former Barclay Hotel into luxury condos and later partnered with Starr to open Barclay Prime and, together, the renovated Barnes & Noble bookstore‑turned‑restaurant Borromini. “Today, the assessed values around the square total $3.7 billion,” Domb notes.
Lerch, based in Jenkintown, expanded his reach after the 2008 recession by joining eXp Realty, a publicly traded company that allows agents to work virtually across state lines and earn revenue through recruitment. The move opened doors to a weekly radio show on WWDB‑AM and the opportunity to pitch “Selling 215” to RSN. “They narrowed it down to a few concepts, and I told them that’s not Philly. They said, ‘You’re it.’ It felt like a Godfather moment,” he recalls.
Future episodes will explore neighborhoods such as Fishtown, Fairmount, the Main Line, and surrounding Bucks, Montgomery, Chester and Delaware counties. The second episode, featuring McGillin’s Olde Ale House and Reading Terminal Market, is slated for January.
Philadelphia’s tight housing market presents new hurdles for buyers, sellers and agents amid broader residential headwinds. First‑time buyers now represent only 21 % of the U.S. market, down from about 40 % pre‑2008, and the median age of first‑time buyers is 40, according to the National Association of Realtors. The brief period of low mortgage rates during the COVID‑19 pandemic inflated prices as buyers vied for scarce inventory, creating a distorted market that many still feel.
“We had an anomaly that brainwashed everyone,” Lerch says. “You have to control what you can.”
Through “Selling 215,” Lerch hopes to give viewers a clearer sense of Philadelphia’s diverse offerings and help them articulate what they want in a home. “For me, it’s a one‑acre spot in Rydal amid luxury. For my son, it’s walkable, close to Angelo’s and the Italian Market. For others, it’s Ambler, Bucks County on 20 acres, or proximity to the airport in Delco. What are the yikes and yields you’re after? Everyone asks, ‘Where’s the best place to live?’ I say, ‘Let’s talk about your story.’”
