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South Philadelphia Housing Market Update (May 2013)

Units Sold
There was an increase in total units sold in May, with 263 sold this month in South Philadelphia versus 227 last month, an increase of 16%. This month’s total units sold was higher than at this time last year, an increase of 32% versus May 2012.

Units Soldmay_2013_units_sold


Active Inventory
Versus last year, the total number of homes available this month is lower by 246 units or 18%. The total number of active inventory this May was 1,110 compared to 1,356 in May 2012. This month’s total of 1,110 is higher than the previous month’s total supply of available inventory of 1,086, an increase of 2%.

Active Inventorymay_2013_active_inventory


Median Sales Price
Last May, the median sale price for South Philadelphia Homes was $198,450. This May, the median sale price was $231,000, an increase of $32,550 compared to last year. The current median sold price is higher than in April.

Median Sales Pricemay_2013_median_sales_price


Sales Price to List Price Ratio
In May, the average sale price in South Philadelphia was 97.1% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 70, lower than the average last year, which was 90, a decrease of 22%.

Sale Price / List Price & DOMmay_2013_salestolist_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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