Archive for the ‘Market Data’ Category

Some highlights from our Mid-June market report, via Altos Research.  Conditions continue to favor sellers. Demand for homes in Philadelphia remains strong.  Available supply is purchased rapidly, with Philadelphia properties currently averaging a mere 4 months on the market.

However, median price has increased from $189,000 to $192,500 in the past two weeks. We’ll see by early August if a few expensive properties skewed the average, of if prices are beginning to trend upwards.  Only time will tell.

Mid-June Market Report Excerpts, via Altos Research

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

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Happy Friday! Let’s usher in the weekend with three can’t miss open house opportunities this Sunday, June 16th in Philadelphia’s Fairmout & Queen Village neighborhoods. We’ll break down all the details on properties, location, and more below. Looking forward to hosting Philadelphia’s future homeowners.

310 Catharine Street, Unit C – Queen Village, Philadelphia

Property #1:  2 BR, 1 BA Queen Village condominium with assigned parking!

Location: 310 Catharine Street [Unit C] Philadelphia, PA 19147 

Time: 11:00 am – 1 pm

Listing Agent: Stephanie Slapin

Showing Agent: Jennifer Nehila

Highlights Include: 

• Kitchen, dining area & spacious living room
• Master bedroom, with separate den & large bathroom
• Exposed brick wall, 12″ high ceilings & hardwood floors
• Wood burning fireplace, patio access & assigned parking!

Walking Distance From: 

• Penn’s Landing, South Street, 9th Street Italian Market & Sacrcone’s Bakery

For additional information, pictures & pricing: http://bit.ly/152U8YK

E-mail stephanie@atacangroup.com with any questions or concerns.

310 Catharine Street, Unit E – Queen Village, Philadelphia

Property #2:  Beautifully Updated 2 BR, 1 BA  condo in South Philadelphia‘s Queen Village neighborhood!

Location: 310 Catharine Street [Unit E] Philadelphia, PA 19147 

Time: 11:00 am – 1 pm

Listing Agent: Stephanie Slapin

Showing Agent: Jennifer Nehila

Highlights Include :

• Gorgeous kitchen opens up to separate dining area.
• Living room includes wood-burning fireplace, exposed brick wall & hardwood floors.
• Includes attic & basement storage units.
• Pet friendly.
• Minutes from South Street, Penn’s Landing & Philadelphia’s historic 9th Street Italian Market!

For additional information, pictures & pricing: http://bit.ly/10EZR6D

E-mail stephanie@atacangroup.com with any questions or concerns.

1625 North Street – Fairmount, Philadelphia

Property #3: Very spacious 3 BR, 3 BA Fairmount area townhouse with Garage Parking!

Location: 1625 North Street Philadelphia, PA 19130

Time: 12:00 pm – 2:00 pm

Listing Agent: Karoline Kelsen

Showing Agent: Guillaume Lantoine

Highlights:

• Open concept living room/dining with fireplace, perfect for entertaining!
• Kitchen features wooden cabinets, black granite counter tops & stainless steel appliances.
• Slate patio with landscaping.
• Roof top deck with amazing [south facing] city views!
• Located on a fantastic block just steps from award winning restaurants, coffee shops & parks.
• Recent price improvement!

For additional information, pictures & pricing: http://bit.ly/12ToniO

E-mail karoline@atacangroup.com with any questions or concerns.

Have a great weekend fellow Philadelphians!

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Twitter & Instrgram: @TheAtacanGroup

2223 Frankford Ave. – Fishtown, Philadelphia

 $20,000 price improvement on Fishtown-area triplex, perfect for investors & entrepreneurs!

Additional highlights:

• Meticulously renovated over the past five years.
• Brand new electrical, plumbing & HVAC throughout.
• First floor retail place situated right on Frankford Ave.
• Second floor features 2 BR apartment with custom kitchen & bathroom.
• Third floor offers a spacious 1 BR apartment as well.
• Potential to expand income by renting basement to 1st floor tenant.
• Triplex is fully rented & cash flowing, perfect for investors!

For additional information, pictures & pricing: http://bit.ly/12mnv9J

201 N. 8th Street, Unit 110 – Old City, Philadelphia

$10,000 price improvement on gorgeous, bi-level Old City condo!

Additional highlights:

• Kitchen features granite countertops, breakfast bar, upgraded European cabinetry & stainless steel appliances.
• 12 foot high ceilings.
• Finished hardwood, tile & mile flooring throughout.
• Washer/dryer in unit.
• Outdoor heated pool with spa, cabanas & poolside dining area.
• 24 hour doorman with secured entrances.
• Conveniently located near subway, train & all major highways.
• Absolute must see!

For additional information, pictures & pricing: http://bit.ly/12MEi3I

Contact listing agent Aaron Byles with all questions regarding the properties above.

This is brought to you by Philadelphia Real Estate Blog.

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Twitter & Instrgram: @TheAtacanGroup

309 S. American St. – Society Hill, Philadelphia 

Historic Society Hill townhouse rental on picturesque cobblestone block! 

Highlights Include: 

• 2 bedrooms & 2 full bathrooms.
• Finished basement.
• Kitchen overlooks patio garden.
• Three fireplaces.

Additionally offers:

• Original wide plank pine floors throughout.
• Convenient street parking.
• Walking distance to Head House Square, South Street & Penn’s Landing.
• Entire property professionally cleaned & painted!

See all listing details for 309 S. American Street, along with additional properties we offer.

For further information on this property, contact David Darami.

This is brought to you by Philadelphia Real Estate Blog.

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Twitter & Instrgram: @TheAtacanGroup

1625 North Street – Fairmount, Philadelphia

429 N. 13th Street, Unit 5C – Loft Distrcit, Philadelphia

Property #1: 1625 North Street Philadelphia, PA 19130

Gorgeous townhouse in North Philadelphia’s Art Museum area with garage parking!

Date/Time: Sunday June 9, 11:00 am – 1:30 pm

Listing Agent: Karoline Kelsen

On-Site Representative: David Brown

Highlights Include:

• 3 Bedrooms & 3 Full Bathrooms.
• Open concept living room/dining with fireplace, perfect for entertaining!
• Kitchen features wooden cabinets, black granite counter tops & stainless steel appliances.
• Slate patio with landscaping.
• Roof top deck with amazing [south facing] city views!
• Located on a fantastic block just steps from award winning restaurants, coffee shops & parks.
• Recent price improvement!

For additional information, pictures & pricing: http://bit.ly/12ToniO

E-mail karoline@atacangroup.com with any questions or concerns.

Property #2: 429 N 13th Street #5C Philadelphia, PA 19123

Spacey Loft District condo featuring 1 BR, 1 BA & walk-in vault!

Date/Time: Sunday June 9, 12:00 pm – 1:30 pm

Listing Agent: Adam Atacan

On-Site Representative: Josh Howe

Highlights Include:

• Private bedroom & full bathroom
• Indoor garage parking
• Custom u-shaped kitchen with stainless steel appliances
• Large bathroom features deep Jacuzzi, hardwood floors & subway tile
• Versatile, bi-level vault unit perfect for storage, office space, den or guest room
• Convenient location between Callowhill & Spring Garden, just one block from Broad Street
• Minutes from Reading Terminal Market, Union Transfer & Chinatown!

For additional information, pictures & pricing: http://bit.ly/11ichgz

E-mail adam@atacangroup.com with any questions or concerns.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Twitter & Instrgram: @TheAtacanGroup

429 N 13th Street, Unit 5C – Loft District, Philadelphia

Gorgeous Loft District condo featuring 1 BR, 1 BA & walk-in vault!

Highlights Include: 

• Private bedroom & full bathroom
• Indoor garage parking
• Custom u-shaped kitchen with stainless steel appliances
• Large bathroom features deep Jacuzzi, hardwood floors & subway tile

Additionally offers:

• Versatile, bi-level vault unit perfect for storage, office space, den or guest room
• Convenient location between Callowhill & Spring Garden, just one block from Broad Street
• Minutes from Reading Terminal Market, Union Transfer & Chinatown!

Open House Details: 

• This Sunday [June 9th], 12:00 pm – 1:30 pm

See all listing details for 429 N 13th Street #5C, along with additional properties we offer.

For further information on this property, contact Adam Atacan.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Twitter & Instrgram: @TheAtacanGroup

Some highlights from our June 2nd market update. Conditions indicate a seller’s market in the Philadelphia area. For further details, head over to our Market Activity homepage.

Market Update Excerpt [June 2, 2013, via Altos Research]

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

1100 South Broad St. [Unit #409B] – Newbold, Philadelphia

Highlights Include: 

• Deeded parking
• High ceilings & hardwood floors
• New kitchen cabinets, granite countertops & stainless steel appliances
• Marble bathroom features whirlpool tub & separate tiled shower
• Washer/Dryer unit

Additionally offers:

• Landscaped courtyard access
• Koi ponds, fountains & dog walk
• Health & fitness center
• Dry cleaning delievery
• 24 hour concierge service

See all listing details for 1100 S Broad St [Unit 409 B], along with additional properties we offer.

For further information on this property, contact Aaron Byles.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Twitter & Instrgram: @TheAtacanGroup

Check out the Market Update for Philadelphia Real Estate as of May 1, 2013.  All areas of the housing market are showing extremely high levels of demand!

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

With Spring in the air, this is the time home-sales season has officially begun. 2012 showed incredibly low mortgage rates, many believed wouldn’t last. According to Freddi Mac, the current average rate on a 30 year mortgage stood fast at 3.54%. This should a slight improvement compared to last week when rates were at 3.57%. With historically low mortgage rates still active, many believe this will transform into a tremendous amount of buying/selling active in the Philadelphia market this coming Spring and Summer. So if you are thinking of buying or selling your home, now is the time!

 This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Rounding off the end of February 2013, shows again the Philadelphia real estate market looking strong. According to the Altos market update, both price and inventory levels are beginning to even off. This indicates a great time to watch the market’s activity which will help identify key times for price changes.  For a full overview on Philadelphia’s real estate market as of February 25, 2013 please visit our market update report.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

The Fishtown area of Philadelphia is showing a very strong market for buyers and a must stop for any investor.  The average listing price at the moment is $225,000, but continuing to show a strong trend upwards.  According to the Altos market update, properties in this area have been available for an average of 171 days, but half of the new listings coming within the past 120 days or so.  With a tremendous amount of new construction going on and a demand in location, this is a key area for both buyers and sellers.  Many first time home buyers are migrating to this area and also just individuals falling in love with the scene. If you happen to be in the process of looking for a property in the area, please be sure to check out one of the hottest growing areas in the city.  To see a list of all available places, please visit us at our Fishtown listing page.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Starting the 2013 year off on a good note for Philadelphia real estate. According to the Altos market update it’s shows a very strong market for buyers and that inventory should stay fast at current sales prices. This should be a huge advantage for buyers giving them ample choice to find the right property for themselves. For a full overview on Philadelphia’s real estate market as of January 14, 2013 please visit our market update report.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

According to Truila.com, they believe that moving into 2013 consumers are optimistic about the housing market and are more ready to buy . They explain that in a survey conducted in November 2012, 31%  of renters are planning to buy within the next two years up from below 22% a year prier. To read the full article from Truila: “Renter Nation”

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Check out the market update for Philadelphia Real Estate ending out the year of 2012:

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

According to Kevin C. Gillen, PhD. ever since the bursting of the housing bubble, Philadelphia Real Estate shows only a -15% cumulative decline from where the housing prices peaked (see figure 1). Philadelphia real estate has recovered 1/3 of it’s lost home values (see figure 2).

Figure 1

Figure 2

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

According to Fels Institute of Government at the University of Pennsylvania, the number of Philadelphia home sales greater than $1 million is the strongest it’s been since 2008 at 44 properties sold. With the average over the past 16 years rounding out around 9 properties, this year’s market shows great improvement and strong surge in the right direction for Philadelphia Real Estate.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Here  is some very good news for Philadelphia Real Estate.  Homes and condos in the Philadelphia area are trending down slowly. This means that even though inventory is down at the moment, property value continue to rise. Please see below graphs illustrating:

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Check out our market update for Philadelphia Real Estate ending November 2012. The median list price comes in around $199,900 with the average asking price per square foot around $135 . There is currently 1311 properties listed on the market on an average of 172 days respectfully.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Check out our market update for Philadelphia Real Estate ending mid November 2012. The median list price comes in around $200,000. There is currently 1375 properties listed on the market on an average of 171 days respectfully.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

All info courtesy Trend MLS

Market History

With 7,849 units of Total Inventory available, Philadelphia County saw a decrease of 9% in August 2012 compared to August 2011. Pending units did see a slight increase of 1.3%, totaling 769.

Year-to-Date Market Snapshot

Through August 2012, Philadelphia County has settled 6,301 units at an average price of $173,000.

Market Update

August was another strong month, with Year-to-Date Closed Sales up 14% and Year-to-Date Pending Sales up 18%. Join Dave Davis as he takes us through the rest of our market and check out stats for your individual county.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visitwww.CenterCityRealEstate.com

All info courtesy Trend MLS

Market History

With 7,715 units of Total Inventory available, Philadelphia County saw a decrease of 11% in July 2012 compared to July 2011. Pending units did see a slight increase of 9.9%, totaling 845.

Year-to-Date Market Snapshot

Through July 2012, Philadelphia County has settled 5,365 units at an average price of $171,000.

Market Update

The second half of the year is off to a fast start, with Pending units up 17% & Sold units up 13% in July ’12. Join Dave Davis for an in-depth look at the market.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

August 6, 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $214,900. The 1478 properties have been on the market for an average of 169 days.

Supply and Demand

Home sales have been exceeding new inventory for several weeks.  However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s market.

This week prices remained relatively flat. However the recent trends have us pulling back from the market’s high points. The Market Action Index is a good leading indicator for the durability of this trend.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Market History

The Average Settled Price for a unit in Philadelphia County was $186K, an 8% increase in June 2012. The number of Pending units also increased 1.3%, hitting 843 for the month.

Year-to-Date Market Snapshot

Through June 2012, Philadelphia County has settled 4,533 units at an average price of $166,000.

The first half of 2012 has been surprisingly strong! Closed transactions, Pending sales and Average Sold Price were all way up this year compared to 2011.

Info provided by TrendMLS

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

July 16, 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $219,9000. The 1520 properties have been on the market for an average of 167 days.

The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Mortgage rates have hit new record lows according to Freddie Mac.  The newest rate for a 30-year fixed-rate loan has dropped to 3.62% from 3.66% last week.  In the past 11 weeks the rate has matched or hit a new low 10 times.

Buyers who want to minimize their monthly payments by opting for a 30-year loan would have payments of just $911 a month on a $200,000 loan. But they would pay $128,000 in interest over the life of the loan.

The same 30 year loan was at 4.6% one year ago.

The 15 year fixed rate fell to 2.89% from 2.94%.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $222,250. The 1576 properties have been on the market for an average of 167 days.

The market has settled in at a relative stasis in inventory and sales conditions. It’s a Buyer’s market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.

The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

This week’s bump in median price bucks the recent downward trend. The Market Action Index is a good leading indicator for whether this change establishes a trend.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Privately owned housing starts saw a substantial year-over-year jump in May, following an even greater upwardly revised increase in April, according to a report by the U.S. Census Bureau and the Department of Housing and Urban Development.

Housing starts rose an estimated 28.5 percent on an annual basis in May, to a seasonally adjusted annual rate of 708,000. That’s 4.8 percent below April’s upwardly revised estimate of 744,000 when housing starts rose 34.8 percent compared to April 2011. The previous estimate was 717,000.

Housing starts have been rising on an annual basis since September 2011 and are now 48.1 percent above their trough in April 2009 — 478,000 — in census records dating back to January 1959.

The Northeast saw the smallest increase of all the regions, 10.5 percent, to 63,000.

Multifamily housing starts for buildings with five or more units rose 31.6 percent on an annual basis in May, to 179,000.

Privately owned housing completions jumped 10.1 percent year over year in May, to an estimated seasonally adjusted annual rate of 598,000. Single-family completions fell 6.3 percent from April but rose 3.6 percent from May 2011, to an estimated rate of 458,000.

The number of building permits issued in May rose 25 percent on an annual basis and 7.9 percent on a monthly basis in May, to an estimated seasonally adjusted annual rate of 780,000. Permits for single-family homes rose 4 percent from April and 19.9 percent from May 2011, to an estimated 494,000.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

May 27, 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $224,900. The 1570 properties have been on the market for an average of 159 days.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

First Time Home Buyer Tips

• Take advantage of the record low mortgage rates.
• Has housing market reached bottom? Probably 2 months ago… Inventory is up.
• Townhouse investments are good, tend to be the cheapest homes in most markets.
• Homes with children, better to grow into a bigger home.
• Get in the market before it runs away from you, if you have to settle it’s not the end of the world because you can always trade up later.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

May 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $219,000. The 1551 properties have been on the market for an average of 162 days.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Pending sales of existing homes rose to their highest level in nearly two years in March, according to the National Association of Realtors’ latest Pending Home Sales Index.

The index, which represents contracts signed but not yet closed, jumped a seasonally adjusted 4.1 percent from February to March, to 101.4. That’s the highest index level since April 2010, when the deadline for a federal homebuyer tax credit program loomed. The index was 111.3 then.

Regionally, the Northeast saw the biggest unadjusted year-over-year increase in pending sales: 18.4 percent. The region was one of two to see a slight monthly decline, sliding 0.8 percent on a seasonally adjusted basis to 78.2.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Quarter 1 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median sales price in PHILADELPHIA, PA in quarter 1 was $126,000. The 2,130 closed sales had an average marketing period of 121 days.

Market History

Philadelphia County reported an increase of 1% in Settled units for March 2012, that compared to March 2011. The Average Settled Price of a unit increased over the same time frame, 2.6%, to $158,000.

Year-to-Date Market Snapshot

Through March 2012, Philadelphia County has settled 1,932 units at an average price of $151,000.

Check out this week’s market statistics for April 2012.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Market History

Pending units in Philadelphia County increased nearly 20% in February 2012 compared to February 2011. Settled units also increased 6.5% in that same time period.

Year-to-Date Market Snapshot

Through February 2012, Philadelphia County has settled 1,169 units at an average price of $146,000.

Market Update

February continued to indicate that the housing market is gaining strength. For the 3rd straight month, both Pending and Settled listings were at a 4-year high.

All information courtesy of TREND MLS.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visitwww.CenterCityRealEstate.com

March 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $214,900. The 1471 properties have been on the market for an average of 169 days.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

For-sale housing inventory drops 22%, near a 2-year low

Data courtesy Inman News.

Median list prices jumped 1 percent or more on a year-over-year basis in February for about 73 percent of the 146 markets tracked in a report released this week by Realtor.com.

On a national basis, the median list price rose about 7 percent year over year in February.

Among the top 10 markets for the highest year-over-year hike in list prices in February, seven were in Florida — Miami topped the chart with a 26.2 percent increase, according to the report.

The median list price of homes tracked by Realtor.com rose $2,500 between January and February 2012, to $188,000, which is 6.82 percent higher than the median list price was a year ago when it was at a two-year low. February 2012′s median list price is on par to what it was in February 2010.

Only two markets showed a year-over-year increase in for-sale inventory, according to the data: Philadelphia and Springfield, Ill.

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Boost your Home’s Value:

• Appraisals can be a make or break issue
• More skilled appraisers have been leaving the industry
• In some cases you will be able to request a skilled appraiser but usually it will be strictly 3rd party
• Know your Comps! (Recent home sales in past 6 months, similar location, size, age, additions… start at Zillow)
• Some appraisers will use outdated comps.
• Make sure you know what makes your home different from the comps.
• Point out any home improvements to the appraiser.
• Takes a few weeks to get the appraisal back
• If you are going to try to appeal the appraisal than you better have evidence to back it up!

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Here are some amazing homes around the country listed just under $200K.  Check out similar priced homes in Philly!  Here is every active Philadelphia Real Estate Listings just below $200,000.

Or search by ANY Neighborhood:

• Rittenhouse Square Real Estate Listings under $200,000
• Society Hill Real Estate Listings under $200,000
• Washington Square Real Estate Listings under $200,000
• Art Museum Area Real Estate Listings under $200,000
• Avenue of the Arts Real Estate Listings under $200,000
• Bella Vista Real Estate Listings under $200,000
• Chinatown Real Estate Listings under $200,000
• Fishtown Real Estate Listings under $200,000
• Northern Liberties Real Estate Listings under $200,000
• Graduate Hospital Real Estate Listings under $200,000
• Fitler Square Real Estate Listings under $200,000
• Old City Real Estate Listings under $200,000
• Queen Village Real Estate Listings under $200,000
• Powelton Village Real Estate Listings under $200,000
• University City Real Estate Listings under $200,000
• South Philadelphia Real Estate Listings under $200,000
• East Passyunk Real Estate Listings under $200,000
• Girard Estate Real Estate Listings under $200,000
• Marconi Park Real Estate Listings under $200,000
• Newbold Real Estate Listings under $200,000
• Passyunk Square Real Estate Listings under $200,000
• Pennsport Real Estate Listings under $200,000
• Whitman Real Estate Listings under $200,000

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To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

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Those are some amazing homes around the country listed just under $300K!  Check out similar priced homes in Philly!  Here is every active Philadelphia Real Estate Listings just below $300,000.

Or search by ANY Neighborhood:

• Rittenhouse Square Real Estate Listings under $300,000
• Society Hill Real Estate Listings under $300,000
• Washington Square Real Estate Listings under $300,000
• Art Museum Area Real Estate Listings under $300,000
• Avenue of the Arts Real Estate Listings under $300,000
• Bella Vista Real Estate Listings under $300,000
• Chinatown Real Estate Listings under $300,000
• Fishtown Real Estate Listings under $300,000
• Northern Liberties Real Estate Listings under $300,000
• Graduate Hospital Real Estate Listings under $300,000
• Fitler Square Real Estate Listings under $300,000
• Old City Real Estate Listings under $300,000
• Queen Village Real Estate Listings under $300,000
• Powelton Village Real Estate Listings under $300,000
• University City Real Estate Listings under $300,000
• South Philadelphia Real Estate Listings under $300,000
• East Passyunk Real Estate Listings under $300,000
• Girard Estate Real Estate Listings under $300,000
• Marconi Park Real Estate Listings under $300,000
• Newbold Real Estate Listings under $300,000
• Passyunk Square Real Estate Listings under $300,000
• Pennsport Real Estate Listings under $300,000
• Whitman Real Estate Listings under $300,000

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

March 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $214,900. The 1469 properties have been on the market for an average of 170 days.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Home Sales

Housing activity has increased 1.7% in 2011.  Latest home sales pattern offers signs of finding bottom.  Home sales by state decreased in every state in the third quarter of 2010 but they have fortunately increased in every state in the third quarter o 2011.

Home Prices

Home Prices are currently at the lowest level since 2003.  The median home price contracted 3.9% in 2011. If home prices had followed the 4% historical appreciation rate, the median price would be $219,372 – 24% above today’s prices.

Inventory (month’s supply)

Number of months it would take to sell all the homes on the market at the current rate of sales.  Stronger demand and fewer new listings brought inventory of existing homes down to the lowest level since 2007 at 8.3 months in 2011. In December, months supply stood at 6.2 months, pushing the market closer to the balanced market threshold.

Mortgage Rates (30 year Fixed)

Mortgage rates averaged 4.45% in 2011, an all-time low since Freddie Mac started tracking in 1971. In 2011, mortgage rates ranged as high as 4.95% and ended in December at a low of
3.96%. During the week ending February 9, 30-year fixed rate averaged 3.87%.

Construction Costs

The average construction cost of a single-family home in 2011 is $184,125. This average
is significantly lower than the 2009 average construction cost of $222,511.

Affordability (% OF INCOME)

Percent of mean family’s income required to make mortgage payments on a median-priced home.  Housing affordability was the most favorable on record in 2011.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

• Increasing prices for 3 months in a row… has never happened before.
• Many people think bottom has passed us.
• Don’t want to own 2 houses, don’t buy second before getting rid of 1st.
• People are actually making money by trading up because you get a discount on the house your buying as well.
• Short Sale- ruins credit for 3 years but it gets the house sold. Get a broker who specializes in short sales.
• You always save money if you can refinance to a lower term.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Local housing expert Dr. Kevin Gillen, Vice President of Econsult Corporation has a snapshot of current market conditions from NBC 10.

• 5-10 years for serious recovery.
• Probably won’t lose much more on prices. 3-5% decline. Varies on neighborhood.
• Housing Sector problems are national in nature, employment and credit need to be fixed.
• Local initiatives going on now are reassessed values which currently have a very loose relationship with actual underline property values.
• Transfer tax holiday to provide incentive for people to buy?
• Why rescue someone under water?  Because of spillover in housing market.
• 40% of mortgages financed by Fannie and Freddie, when they tighten up, everyone is affected.
• Seeing a little bit of easing on credit but conditions are still tight!

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Market History

Philadelphia County experienced an increase of Settled units, 5.1%, in January 2012 as compared to January 2011. Pending units also increased in the same peiod by 5.4%.

Year-to-Date Market Snapshot

Through January 2012, Philadelphia County has settled 581 units at an average price of $148,000.

Market Update

Sales activity in TREND increased nearly 10% in January 2012 compared to January 2011.

All information courtesy of TReND MLS.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

February 2012 Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.

The median list price in PHILADELPHIA, PA this week is $200,000. The 1469 properties have been on the market for an average of 177 days.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

Here are some amazing homes around the country listed just under $200K.  Check out similar priced homes in Philly!  Here is every active Philadelphia Real Estate Listings just below $200,000.

Or search by ANY Neighborhood:

• Rittenhouse Square Real Estate Listings under $200,000
• Society Hill Real Estate Listings under $200,000
• Washington Square Real Estate Listings under $200,000
• Art Museum Area Real Estate Listings under $200,000
• Avenue of the Arts Real Estate Listings under $200,000
• Bella Vista Real Estate Listings under $200,000
• Chinatown Real Estate Listings under $200,000
• Fishtown Real Estate Listings under $200,000
• Northern Liberties Real Estate Listings under $200,000
• Graduate Hospital Real Estate Listings under $200,000
• Fitler Square Real Estate Listings under $200,000
• Old City Real Estate Listings under $200,000
• Queen Village Real Estate Listings under $200,000
• Powelton Village Real Estate Listings under $200,000
• University City Real Estate Listings under $200,000
• South Philadelphia Real Estate Listings under $200,000
• East Passyunk Real Estate Listings under $200,000
• Girard Estate Real Estate Listings under $200,000
• Marconi Park Real Estate Listings under $200,000
• Newbold Real Estate Listings under $200,000
• Passyunk Square Real Estate Listings under $200,000
• Pennsport Real Estate Listings under $200,000
• Whitman Real Estate Listings under $200,000

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com

By Guest Contributor: Emma Crawford

Amidst all of the recent problems in real estate, Philadelphia has been one of the cities better off, remaining somewhat stable and carrying on in. Albeit slow in this difficult market with sales not being at an all-time high, Philadelphia continues to show plenty of signs of optimism for the short term and long term future of the local market.

Home buyers are present in this city while construction companies continue to put up new houses. There are also people selling homes in the city at prices that are not as lowly as other parts of the country. The first positive point recently has been the small increase in existing sales that the area has seen, something that was a necessity for a turnaround in 2012. Even though the January numbers didn’t show a full increase in purchases, there is hope that the rest of the first quarter will result in a better performance.

Even with a stable sales report, the year has begun on a high note for the real estate market in Philadelphia due to a few different factors. The fact that mortgage rates are at record lows throughout the country and in Philadelphia is a strong indicator for sellers. A 30 year fixed rate mortgage is currently sitting at 3.87 APR, which would certainly allow some to come in with payments less than a number of rentals in the area.

Speaking of rentals, the rising cost of apartments is another factor which professionals believe could lead potentials into the buying market. Philadelphia apartments have experienced an eight percent increase in price from the beginning of 2011 onto the outset of 2012. In dollars, this is a jump of almost 80 dollars a month for renters in the Philadelphia area, which is a bit extreme. There is certainly a chance that some could see more value in the currently low mortgage rates, rather than continuing to watch mortgage rates go up.

Prices in the area have been the major hurdle for the end of 2011 and beginning of 2012. While these prices are a bit down, the drops aren’t really comparable to some of the plummets other major cities have seen, which is certainly a positive. These median prices dropped in the months of November and December, which could represent an issue in the market, but at the same time the fourth quarter and end of the year are usually slow for all real estate markets.

Philadelphia’s current real estate market trends are for the most part rich with positives and a few negatives right now. The good thing is there’s reason to believe that the negatives can certainly be improved throughout 2012, as some are a direct result of the slow period at the end of last year. Factors such as rising rental rates and low mortgage rates affect each other adversely. Certainly the push-pull between these two is tipping in the favor of buying right now. Along with a number of other recent trends such as an increase in existing sales, there is hope that the Philly market can build on early returns and have a strong first quarter in total for 2012.

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visitwww.CenterCityRealEstate.com

Visit msnbc.com for breaking news, world news, and news about the economy

Here are some amazing homes around the country listed just under $400K.  Check out similar priced homes in Philly!  Here is every active Philadelphia Real Estate Listings just below $400,000.

Or search by ANY Neighborhood:

• Rittenhouse Square Real Estate Listings under $400,000
• Society Hill Real Estate Listings under $400,000
• Washington Square Real Estate Listings under $400,000
• Art Museum Area Real Estate Listings under $400,000
• Avenue of the Arts Real Estate Listings under $400,000
• Bella Vista Real Estate Listings under $400,000
• Chinatown Real Estate Listings under $400,000
• Fishtown Real Estate Listings under $400,000
• Northern Liberties Real Estate Listings under $400,000
• Graduate Hospital Real Estate Listings under $400,000
• Fitler Square Real Estate Listings under $400,000
• Old City Real Estate Listings under $400,000
• Queen Village Real Estate Listings under $400,000
• Powelton Village Real Estate Listings under $400,000
• University City Real Estate Listings under $400,000
• South Philadelphia Real Estate Listings under $400,000
• East Passyunk Real Estate Listings under $400,000
• Girard Estate Real Estate Listings under $400,000
• Marconi Park Real Estate Listings under $400,000
• Newbold Real Estate Listings under $400,000
• Passyunk Square Real Estate Listings under $400,000
• Pennsport Real Estate Listings under $400,000
• Whitman Real Estate Listings under $400,000

This is brought to you by Philadelphia Real Estate Blog

To view every Philadelphia Real Estate Listing, including Philadelphia Condos visit www.CenterCityRealEstate.com