"Philadelphia's active listing count experienced a notable rise of 1.2% year-over-year, reaching an engaging total of 4,224 homes. While this increase was more subdued compared to the national surge of 12.1%, it still provided a refreshing influx of options for potential buyers. However, newly listed homes in Philadelphia saw a reduction of 6.5% compared to the previous year, a trend that contrasted with the national decline of just 1.8%."
"In December, Philadelphia's median listing price of $275,000 marked a modest yet promising year-over-year increase of 0.9%. This was against the backdrop of a slight national decline of 0.6% in median listing prices. With 13.7% of homes experiencing price reductions, slightly above the national average of 12.9%, the market showcased a vibrant environment where strategic pricing adjustments played a key role in attracting eager buyers."
"Homes in Philadelphia spent an average of 66 days on the market, reflecting a slight improvement from the previous year with a decrease of 0.8%. This was notably shorter than the national average of 73 days, which saw a 5.0% increase. The stable days on market in Philadelphia underscored a captivating level of buyer interest, maintaining a steady pulse amid the market's other fluctuations."
Active listings in Philadelphia rose 1.2% year-over-year to 4,224 homes, while newly listed homes declined 6.5% compared to the prior year. The median listing price reached $275,000, a 0.9% year-over-year increase, versus a 0.6% national decline. Price reductions affected 13.7% of homes, slightly above the national average of 12.9%, reflecting strategic seller adjustments. Homes averaged 66 days on market, down 0.8% year-over-year and shorter than the national 73-day average, which increased 5.0%. These combined trends point toward a more balanced market with increased choice and continued buyer interest.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]