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Category / Sale Statistics

Redfin Exposé Highlights South Philadelphia Neighborhood

Nationwide real estate portal ‘Redfin’ debuts their “Hottest Neighborhoods of 2015.”  South Philadelphia’s ‘Dickinson Narrows’ recognized. Ranked #2 in the United States!  — Tucked between Pennsport &  East Passyunk is South Philly’s next buyer hotspot. Dickinson Narrows lands at #2 on Redfin‘s “Hottest Neighborhoods of 2015,” predicting which urban & suburban pockets will garner significant attention from realtors, developers and prospective homebuyers,...CONTINUE READING

Market Trends: Philadelphia County, EOY 2014

Residential Activity in Philadelphia County, Pennsylvania. For Single-family Homes & Condominiums, citywide.  — Total Inventory, Dec. 2014 = 7,565 2% increase from 2013.  Inventory Accumulation, Dec. 2014 = 7.4 December Settled Listings, Dec. 2014 = 1,071 Total Settled Listings (2014) = 12,302 8% > December 2013. Median Price, Dec. 2014 = $149,900 2014 EOY Median...CONTINUE READING

Philly Amongst Top Metros for Millennial Postgrads

Center City, Philadelphia Amongst Top Postgrad. Hubs Nationwide Additional data emerges supporting significant millennial urbanization growth locally.  Photo Credit: Young Involved Philadelphia — New York City, NY San Francisco, CA Washington D.C. Chicago, IL Boston, MA Philadelphia, PA According to Philly.com reports [late last month], Philadelphia ranks sixth amongst major metropolitans attracting postgraduate millennials [mid-20s to mid-30s], with at least a bachelor’s...CONTINUE READING

Q3 Home Sales “Rose Significantly” in Philadelphia

Recover & Rebound: Why Philadelphia’s Q3 Home Sales Display Promising Trends 3rd Quarter Review: Home Sales in Philadelphia, PA July 2014 – September 2014 Data analysis: Kevin Gillen, Economist (Recorder of Deeds Office) The Facts 1. Sales volumes increased from 2nd Quarter. Most notably, within lower-priced neighborhoods. 2. Just below 4,000 transactions July – September 2014. 1st time since...CONTINUE READING

Philadelphia #3 Buyers’ Market in the USA

The economists at Zillow (popular real estate search portal) recently analyzed nationwide data to determine which United States’ metropolitans offer the strongest landscapes for buyers & sellers, respectively. Results account for sales price, asking price, days on market & percentage of homes on market with price cuts. Philadelphia charted amongst the USA’s strongest buyers’ markets, at #3 in the...CONTINUE READING

Philadelphia Amongst Most Affordable Millennial Markets

RealtyTrac. reports  as #5 most affordable housing market for Gen. Y buyers, according to recent study results. Research analyzed percentage of income needed by median earners, in order to purchase / rent median priced homes. In Philadelphia, buyers allocate 14.06% of income for current living situation. Median home price [as of April 2014] estimated $81,675, while...CONTINUE READING

Econsult Solutions’ Quarterly Housing Index (2014 ; Q2)

The following excerpt is sourced from Econsult Solutions’ Quarterly Housing Index (2014 ; Q2)   The Philadelphia housing market had another strong spring this quarter, with some differences across subregions. Quality-adjusted prices of single-family houses in Philadelphia increased by an average of 5.1 percent this quarter and are up 3.1 percent from a year ago. Trends in the city...CONTINUE READING

5 Hottest Neighborhoods of 2014

Redfin & Curbed Philly recently reported on the five hottest neighborhoods this year, in the greater Philadelphia region, based on sales data, population increases & local trends during the second half of 2013. The selections are definitely interesting, most notably because they favor suburban neighborhoods at a time when millennials lead current urbanization hikes. Check out the results & let us know...CONTINUE READING

Early Fall Market Report

As of September 16, 2013: Philadelphia’s Market Conditions display fewer homes listed, and increasing days-on-market. These are relatively negative implications for Philadelphia area Real Estate. Our city technically remains a “seller’s market,” since current supply & demand levels show no significant price changes. However, conditions are cooling as we head towards the fall & winter...CONTINUE READING

Philly’s House Flipping Increase + Presentation Strategies

During the “real estate boom” a few years ago, home flipping became a very desirable medium for investments. However, for one reason or another, this did not take off in & around Philadelphia, at the same rate as other urban areas. Prior to the aforementioned “boom,” Northeast Philly saw a very high volume of flips,...CONTINUE READING

The State of Philadelphia Real Estate – Q2 / 2013

Our favorite real estate analyst and fellow U PENN Alum, Dr. Kevin Gillen just released his quarterly highly awaited real estate report. And the news is really good, not awesome, but way better than bad. Philadelphia is doing better the the US as a whole, we have almost fully recovered from our loss after the...CONTINUE READING

Early July Market Report

The beginning of July’s market report  [via Altos Research] has just been released, and we’ve noticed some interesting activity for the Philadelphia area.  For starters, home values have flattened to very comparable prices with last month; however, there is a slight trend downward in price per square foot (see graph below). This shows that larger homes are...CONTINUE READING

End of June Market Report

Some insight from our Late-June market report, via Altos Research: Over the past month, trends continue to sway in sellers’ favor. Take median price for example. We began June at 189k, increasing to 192.5k mid-June, and now 195k to close the month. In our Mid-June report, we questioned whether “a few expensive properties skewed the average, or...CONTINUE READING

Mid-June Market Report

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...CONTINUE READING

Philadelphia Real Estate Market Is Looking STRONG!

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  

Philadelphia Real Estate Market Update – Ending February, 2013

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...CONTINUE READING

Listing prices up in Philadelphia and 85 of the top 100 markets

The real estate market in the country is looking stronger and showing promising signs of price recovery! Out of the top 100 largest metropolitan areas, 86 of them are seeing that the asking price for their home sale is up as much as 5.9% from a year ago. According to the graphs below from Truila.com,...CONTINUE READING

Philadelphia Real Estate Market Update – January, 2013

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...CONTINUE READING

Housing Market Looking Strong in 2013

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...CONTINUE READING

Philadelphia’s home recovery being driven by the upper-end of the market.

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...CONTINUE READING