Philadelphia Real Estate Market Review
Wow, what a year for Philadelphia Real Estate. The inventory decreased by over 70%, for the homes that did sell they sat on the market for about 6 months, but the median price per square foot increased.
There are about 1,490 properties on the Philadelphia Real Estate Market on 12/13/9.
The average Philadelphia Home For Sale on 12/13/9 has been for sale for 184 days.
The median price single family Philadelphia home for sale is $211,646.
With a Market Action Index (MAI) as of 12/13/9 at 17.43, the Philadelphia Real Estate Market is a buyer’s market. The MAI illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 indicates a “Seller’s Market” because demand is high enough to quickly gobble up supply. Values below 30 indicate a “Buyer’s Market” where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. .
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All Philadelphia Real Estate listings are found at www.CenterCityRealEstate.com
