In March, Philadelphia County reported the highest number of online showing appointments since TREND began collecting the data. There was a 46% increase in appointments over last month, with appointments in homes priced between $100,000 and $199,999 increasing by 59% for homes listed in the Philadelphia Real Estate community.
As inventory dropped by almost 20% year-over year in Philadelphia County, demand drove prices up, with a 13.4% increase in Median Settled Price and a 14.7% increase in Average Settled Price.
Through March 2013, Philadelphia County settled 2,217 units at an average price of $164,000. This represents an increase from 1976 settled units in March of 2012. Average price has increased from 150k to 164k and median price is up from 119k to 125k year over year. In Philadelphia county, the settled price to oringal listing price ratio is up from 87.5% to 89.1%
Statistics show most Philadelphia Real Estate areas are seeing an increase in foot traffic, contracts, and prices compared to a year ago – an encouraging sign for a strong spring real estate market in Philadelphia
Blog post compliments of the CenterCityTeam Philadelphia Real Estate Blog
Click Here To Search For Philadelphia Real Estate
Click Here To Search For Philadelphia Condos
Click Here For A 100% Free Search Of All Philadelphia Real Estate Listings
Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106