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Median Home Price Map 2005-2011 - Philadelphia, PA

Philadelphia Real Estate – 2011 Home Price Survey

There is a very thorough section in philly.com about the 2011 Home Price Survey for Philadelphia Real Estate that is worth checking out.  They have analyzed more than 376,000 sales in the Philadelphia region from April 2005 – June 2011.

Here are the top Median Home Prices by Area in Philadelphia:

Location Neighborhood/county 2011 median sales price 2011 Sales
19103 Rittenhouse Square $660,500 24
19106 Society Hill $652,500 16
19118 Chestnut Hill $629,500 28
19107 Washington Square W $428,298 12
19130 Fairmount South $297,500 114

Median single-family home prices in Philadelphia’s neighborhoods, especially Center City, have fallen 15.8 percent – much less during this downturn in housing than the last one in the late 1980s to mid-1990s – said Kevin Gillen, vice president of Econsult Corp., who collected and analyzed data from 376,257 sales regionwide from April 1, 2005, through June 30, 2011.

But lower-income neighborhoods have suffered more than their upscale counterparts, Gillen said, as the struggling economy has edged out less-well-off buyers.

“The tightening of credit has skewed home sales toward the upper end of the market,” Gillen said. “So when you compute the average price decline for the entire city, versus computing the average price decline across all zips [zip codes] in the city, you get two different numbers.” – Philly.com’s In Center City, home prices holding their own

They also have a very insightful interactive map that is worth playing around with:

Median Home Price Map 2005-2011 - Philadelphia, PA

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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