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Philadelphia Market Conditions 
Market Snap Shot as of December 31, 2009
Current Market Raiting:   2 Current Price Trend:   2
                                           
           
  1   2   3   4   5     1   2   3   4   5  
                                           
Buyer's       Seller's Falling       Rising

Market View as of January 31, 2010

 

 

 

 

 

 

 

Current

Average Price Change

Volume

# of Mos.

 

Average

 

 

Change

Change

Supply

 

Price

One-Yr.

Four-Yr.

Per Year

One-Year

of Homes

Philadelphia

$178,211

-3.8%

6.0%

1.5%

2.0%

8.3

Berks

$164,651

-6.8%

-0.9%

-0.2%

4.0%

11.3

Delaware

$249,768

-4.6%

-0.1%

0.0%

5.0%

7.2

Chester

$336,718

-9.6%

-6.4%

-1.6%

5.0%

8.2

Montgomery

$297,493

-8.1%

-8.9%

-2.3%

6.0%

6.7

Camden, NJ

$198,073

-5.1%

-3.5%

-0.9%

2.0%

10.5

Gloucester, NJ

$216,959

-5.0%

-3.0%

-0.8%

1.0%

11.4

Note: Average price computed based on 12-month moving average. Raw information on

          residential homes obtained from TrendMLS.

Five-Month Demand

This chart is calculated based on the average number of homes sold for the past twelve months.  Home "sold" is the number of Pended transaction, not Settled transaction.  An equivalent of five months of units sold is then calculated.

Average Price

 

The chart presents average prices computed using a twelve-month moving average price of homes that sold -- i.e., settled.  To illustrate the moving average calculation, the twelve-month average for June includes July of prior year through June of current year, July includes August of prior year through July of current year, etc.  The averaging process smoothes the fluctuation from one period to another.

 

It is important to note that, strictly speaking, this average price change does not necessarily constitute property appreciation.  It is possible that more expensive homes are selling in one period compared to another.  This chart simply shows the "average prices" of homes that sold.  However, when dealing with a large population, this could be generally construed as reflective of appreciation assuming no significant change in the mix of homes being sold.

 

Be sure to review the article included here on Local Market Condition Report to ensure that wrong decision is not made based on the information presented.  The charts presented here are strictly for informational purposes.  Keep in mind that homes are usually bought and sold over a long period of time; and over a long period of time real estate almost always appreciates.  For this reason, it does not make sense to try to time the market.  Unfortunately, the mass media sensationalizes on the bad news because that is what sells -- not the good news.  Therefore, understanding this normal market behavior will, hopefully, calm down those who are affected by the media.

    Information for Buyers, Sellers and Homeowners

    Philadelphia Real Estate Information
    Philadelphia, PA 19148
    Fax: 215-964-9244

    Copyright © 2010 Philadelphia Real Estate Information. All Rights Reserved.

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