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South Philadelphia Housing Market Update (August 2013)

Units Sold
There was a decrease in total units sold in August, with 195 sold this month in South Philadelphia versus 260 last month, a decrease of 25%. This month’s total units sold was lower than at this time last year, a decrease of 8% versus August 2012.


Active Inventory
Versus last year, the total number of homes available this month is lower by 230 units or 17%. The total number of active inventory this August was 1,098 compared to 1,328 in August 2012. This month’s total of 1,098 is lower than the previous month’s total supply of available inventory of 1,139, a decrease of 4%.


Median Sale Price
Last August, the median sale price for South Philadelphia Homes was $205,350. This August, the median sale price was $230,000, an increase of 12% or $24,650 compared to last year. The current median sold price is 8% lower than in July.


Sale Price to List Ratio
In August, the average sale price in South Philadelphia was 96.3% of the average list price, which is 0.6% higher than at this time last year.
Days on Market
This month, the average number of days on market was 75, higher than the average last year, which was 74, an increase of 1%.


South Philadelphia are defined as properties listed in zip code/s 19146, 19147, 19145, 19148 and 19112.

Information included in this report is based on data supplied by TReND and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed.

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