Real Estate Market Update for
19118 (Philadelphia, PA)
Video: Real Estate Community Tour for 19118 (Philadelphia, PA)
See Real estate community tour for 19118 (Philadelphia, PA)
Welcome to November's Market Update. Let’s take a look at residential real-estate activity in your area during the month of October. The number of active listings was down 18% from one year earlier, and down 13% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 670-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 67%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 480-thousand dollars. The number of units sold decreased 60% year-over-year, and decreased 33% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.