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South Philadelphia Housing Market Update (March 2013)

Units Sold

There was an increase in total units sold in March, with 187 sold this month in South Philadelphia versus 139 last month, an increase of 35%. This month’s total units sold was lower than at this time last year, a decrease of 4% versus March 2012.

March Sold Homes

Active Inventory

Compared to last year, the total number of homes available this month is lower by 429 units or 29%. The total number of active inventory this March was 1,026 compared to 1,455 in March 2012. This month’s total of 1,026 is lower than the previous month’s total supply of available inventory of 1,037, a decrease of 1%.

Active South Philly Homes for Sale

Median Sale Price

Last March, the median sale price for South Philadelphia Homes was $177,450. This March, the median sale price was $185,000, an increase of 4% or $7,550 compared to last year. The current median sold price is 17% lower than in February.

Median Sold Prices

Sale Price to List Price Ratio

In March, the average sale price in South Philadelphia was 95.4% of the average list price, which is 1.1% higher than at this time last year.

Days on Market

This month, the average number of days on market was 98, higher than the average last year, which was 95, an increase of 3%.

Sales vs. List Price

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