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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 2010 that sales exceeded historic quarterly average [3,800].
  • 1.4% increase on average sales price to $170,682.

3. Recovery appears increasingly equitable.

  • Biggest post-bubble price appreciations within lower-income areas.
    • Specifically rehabs.
  • Investor activity & competition up.

Sourced from Alan J. Heavens, Philadelphia Inquirer.

Brought to you by Philadelphia Real Estate Blog.

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