Is Center City, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Center City was a Seller's Market.
Housing Prices in Center City, PA
How much do homes in Center City, PA cost?
Median Sold Price
$465,000
$404/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Center City was $465,000 in May 2024, down 10.1% from last year, and the median price per square foot was $404.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $290K | $285K | -1.7% |
2 Bedrooms | $520K | $499K | -4.0% |
3 Bedrooms | $850K | $853K | 0.4% |
4 Bedrooms | $1.3M | $1.3M | -1.1% |
5+ Bedrooms | $1.4M | $2.0M | +42.9% |
Summary: Center City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 42.9%.
Median Sold Price Compared To Nearby Neighborhoods
Washington Square West | $492.5K | $467.5K | -5.1% |
Center City | $516.9K | $465K | -10.1% |
Housing Supply in Center City, PA
How many homes are available in Center City, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
660 | 686 | +3.9% |
Summary: The Center City real estate market had 686 homes for sale in May 2024, a 3.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 208 | 212 | +1.9% |
2 Bedrooms | 227 | 238 | +4.8% |
3 Bedrooms | 118 | 121 | +2.5% |
4 Bedrooms | 74 | 80 | +8.1% |
5+ Bedrooms | 33 | 35 | +6.1% |
Summary: The Center City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
80 | 67 | -16.3% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 67 homes were sold or pending in Center City in May 2024, down by 16.3% month-over-month. Of the 67 sold homes, 67% were sold under asking, 21% were sold at asking, and 12% were sold over asking.
Days on Market for Center City, PA
How long does it take to sell a home in Center City, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
82 Days | 48 Days | -41.6% |
Summary: Homes in Center City had an average of 48 days on market in May 2024, down by 41.6% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During May 2024, 67 homes were sold in Center City; 63% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.