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)
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.
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