There was an increase in total units sold in December, with 195 sold this month in South Philadelphia versus 171 last month, an increase of 14%. This month’s total units sold was lower than at this time last year, a decrease of 3% versus December 2012.
Versus last year, the total number of homes available this month is lower by 142 units or 12%. The total number of active inventory this December was 1,009 compared to 1,151 in December 2012. This month’s total of 1,009 is lower than the previous month’s total supply of available inventory of 1,167, a decrease of 14%.
Median Sale Price
Last December, the median sale price for South Philadelphia Homes was $208,750. This December, the median sale price was $199,000, a decrease of 5% or $9,750 compared to last year. The current median sold price is 1% higher than in November.
Sale Price to List Price Ratio
In December, the average sale price in South Philadelphia was 95.7% of the average list price, which is similar compared to a year ago.
Days On Market
This month, the average number of days on market was 66, lower than the average last year, which was 86, a decrease of 23%.
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.