Is Upper North Philadelphia, 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, Upper North Philadelphia was a Seller's Market.
Key Takeaway
Upper North Philadelphia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper North Philadelphia, PA
How much do homes in Upper North Philadelphia, PA cost?
Median Sold Price
$82,500
$78/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Upper North Philadelphia have sold for 7.7% less than they did a year ago.
Summary: The median home sold price in Upper North Philadelphia was $82,500 in May 2024, down 7.7% from last year, and the median price per square foot was $78.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $409K | $120K | -70.7% |
| 2 Bedrooms | $80K | $74.2K | -7.1% |
| 3 Bedrooms | $89.4K | $80K | -10.5% |
| 4 Bedrooms | $100K | $134.7K | +34.8% |
| 5+ Bedrooms | $107K | $140K | +30.8% |
Summary: Upper North Philadelphia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 70.7%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes increased by 30.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Tioga | $90K | $110K | +22.2% |
| Glenwood | $78.5K | $79K | +0.6% |
| Upper North Philadelphia | $89.4K | $82.5K | -7.7% |
| Allegheny West | $89.4K | $80K | -10.5% |
| Nicetown | $115K | $90K | -21.7% |
Housing Supply in Upper North Philadelphia, PA
How many homes are available in Upper North Philadelphia, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 450 | 457 | +1.6% |
Summary: The Upper North Philadelphia real estate market had 457 homes for sale in May 2024, a 1.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 81 | 83 | +2.5% |
| 3 Bedrooms | 279 | 284 | +1.8% |
| 4 Bedrooms | 62 | 65 | +4.8% |
| 5+ Bedrooms | 23 | 21 | -8.7% |
Summary: The Upper North Philadelphia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 8.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 54 | +3.8% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper North Philadelphia, you may be able to get a good deal. 53.7% of homes here sold below asking price last month.
Summary: A total of 54 homes were sold or pending in Upper North Philadelphia in May 2024, up by 3.8% month-over-month. Of the 54 sold homes, 54% were sold under asking, 28% were sold at asking, and 19% were sold over asking.
Days on Market for Upper North Philadelphia, PA
How long does it take to sell a home in Upper North Philadelphia, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 64 Days | +26.9% |
Summary: Homes in Upper North Philadelphia had an average of 64 days on market in May 2024, up by 26.9% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper North Philadelphia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 54 homes were sold in Upper North Philadelphia; 41% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
