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South Philadelphia Real Estate Market Update (November 2013)

Sold Units

There was a decrease in total units sold in November, with 168 sold this month in South Philadelphia versus 177 last month, a decrease of 5%. This month’s total units sold was lower than at this time last year, a decrease of 6% versus November 2012

November2013_sold_units

 

 

 

 

 

 

 

 

 

Active Units

The total number of homes available this month versus last year is lower by 155 units or 12%. The total number of active inventory this November was 1,141 compared to 1,296 in November 2012. This month’s total of 1,141 is lower than the previous month’s total supply of available inventory of 1,216, a decrease of 6%.

November2013_Active_Units

 

 

 

 

 

 

 

 

Median Sale Price

Last November, the median sale price for South Philadelphia Homes was $207,000. This November, the median sale price was $200,000, a decrease of $7,000 compared to last year. The current median sold price is higher than in October.

November2013_Median_Prices

 

 

 

 

 

 

 

Sale Price vs. List Price

In November, the average sale price in South Philadelphia was 94.9% of the average list price, which is similar compared to a year ago.

SalePrice_ListPrice

 

 

 

 

 

 

 

Days On The Market

This month, the average number of days on market was 55, lower than the average last year, which was 76, a decrease of 28%.

 

 

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, should be independently verified, and does not constitute an opinion of TReND or Long & Foster Real Estate, Inc.

 

 

 

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