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Philadelphia Market Conditions 
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 Snap Shot as of June 30, 2010

 

 

 

 

 

 

 

Current

Average Price Change

Volume

# of Mos.

 

Average

 

 

Change

Change

Supply

 

Price

One-Yr.

Four-Yr.

Per Year

One-Year

of Homes

Berks

$163,827

-4.9%

-5.0%

-1.3%

12.0%

12.0

Delaware

$249,965

-2.3%

-0.9%

-0.2%

12.0%

8.4

Chester

$342,643

-3.0%

-7.8%

-2.0%

12.0%

10.0

Montgomery

$303,825

-3.0%

-9.9%

-2.6%

13.0%

8.3

Philadelphia

$179,605

-2.0%

3.3%

0.8%

14.0%

8.3

Camden, NJ

$196,861

-2.9%

-6.7%

-1.7%

7.0%

12.1

Gloucester, NJ

$212,239

-8.0%

-9.4%

-2.4%

9.0%

12.7

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.

Philadelphia Real Estate Market by Neighborhood
Region Neighborhood M to M Q to Q Y to Y Jun-10
13271 Philadelphia -1.10% -3.40% -1.20% 168000
271171 East Germantown 7.30% 7.10% 0.10% 75000
274834 West Oak Lane -2.00% -1.90% 2.50% 112800
272721 Academy Gardens -2.40% 0.00% 0.00% 199900
272748 Alleghany West -11.10% -19.80% -11.10% 40000
271155 Brewerytown -7.10% -18.80% -23.50% 65000
208850 Bustleton 4.00% 8.30% 2.00% 259900
208863 Byberry -2.40% -2.50% -2.40% 199900
271158 Cedar Park -8.30% -8.30% -12.70% 275000
276242 Cedarbrook -1.30% -3.90% -0.70% 149000
276259 Center City East 1.00% 1.00% -8.50% 389000
273262 Center City West 1.70% 2.70% 13.50% 539000
209173 Chestnut Hill 7.10% -0.80% 10.20% 495000
271166 Cobbs Creek -1.10% -1.20% -11.20% 79000
210059 East Falls -2.00% -2.80% -9.20% 245000
271173 East Mount Airy 0.00% -3.10% -21.70% 155000
210094 East Oak Lane 0.00% 0.00% 7.80% 165000
210148 Eastwick -6.80% -6.00% 5.70% 109900
210296 Elmwood 8.20% -4.60% -7.20% 64900
271175 Fairhill 0.00% -0.20% 1.80% 49900
273683 Fairmount/Spring Garden -2.60% 2.70% -3.30% 338000
271178 Fishtown -2.70% -0.60% -5.70% 329900
210745 Fox Chase 0.00% -4.80% -7.00% 199900
210763 Frankford 4.70% 3.60% -1.00% 89000
273817 Germantown 4.20% 4.50% 9.30% 124900
271180 Girard Estates 0.00% 0.00% 3.40% 150000
271181 Grays Ferry 1.60% 9.40% 1.60% 71000
273911 Haddington/Carroll Park 0.20% 0.20% 0.20% 60000
271182 Harrowgate -12.80% -12.80% -24.40% 34000
271183 Hartranft -12.50% -39.10% -26.30% 70000
276383 Holmesburry/Torresdale 3.50% 3.60% 3.60% 144900
211824 Hunting Park -7.60% -9.30% -9.30% 49900
274159 Juniata Park/Feltonville 0.00% 2.30% -4.30% 89900
212161 Kensington 2.60% 15.40% 19.10% 184500
271189 Kingsessing -7.70% 1.70% 9.10% 60000
5568 Lawncrest 1.80% -2.50% -2.60% 112000
276426 Logan/Fern Rock 6.40% 13.30% 0.00% 85000
212919 Manayunk -2.40% -2.40% -9.80% 239000
403112 Mantua -26.40% -6.80% 39.80% 69900
274419 Marconi Plaza/Packer Park 3.00% 4.60% 0.00% 339900
274451 Mayfair -0.60% 2.60% 2.00% 159000
403508 Mill Creek 0.00% 0.00% -5.00% 49900
271198 North Central 8.80% 13.40% -22.70% 84900
271201 Ogontz 3.60% 6.60% 3.00% 72500
214146 Olney -0.40% -2.50% -2.30% 97500
403167 Overbrook -0.10% 0.00% 3.90% 129900
214232 Oxford Circle 2.30% 4.60% 4.50% 135900
275001 Pennsport/Whitman/Queen -2.60% -4.80% -4.70% 219000
275065 Point Breeze 0.10% -8.20% -9.90% 90000
275074 Poplar/Ludlow/Yorktowne -4.60% -10.00% -2.10% 225000
214717 Powelton -1.50% -1.50% 23974% 325000
214954 Rhawnhurst -2% 2.40% -0.20% 194500
214976 Richmond 5% -4.50% -3.70% 105000
271212 Riverfront 9.50% 20.80% 30.60% 469900
215211 Roxborough -3.10% 0.10% -6.20% 250000
275317 Schuylkill Southwest 4.70% 1.70% 1.40% 334500
215792 Somerton -5.60% -7.40% -3.90% 245000
271215 South Philadelphia -0.10% -5.90% -0.10% 159900
271222 Strawberry Mansion -14.60% -8.40% -8.60% 64000
216249 Tacony 0% 0% -5% 115000
275751 Tioga/Nicetown 0% -5.80% -5.80% 65000
216392 Torresdale 0% 0% 0.50% 200000
271225 University City 0% 0% -6.20% 375000
271228 West Kensington 16.70% 35% 8% 135000
213529 West Mount Airy 0% -7.40% -16.70% 249900
276050 Wharton/Hawthorne/Bella Vista 3.50% 0% 0% 319900
276112 Wissinoming 4.50% 2.60% -2.60% 114900
217363 Wynnefield -3.50% 0.60% 3.60% 139900
    Information for Buyers, Sellers and Homeowners

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

                      

    The information on this web-site is based on Pennsylvania Real Estate Law. The laws and standard

    procedures of practice may vary by location. Please consult a local expert in your location.

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

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