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 starting to become more available, resulting in buyers getting more home for their money. With price per square foot on the decline, the Philadelphia market continues to favor sellers. According to the Market Action Index graph (also below), a property listed on an average of 90-days, generally settles within 47.20 days, indicating very little supply relative to demand.
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