Is Philadelphia, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Philadelphia has remained a Neutral Market.
Key Takeaway
Philadelphia is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Philadelphia, NY
How much do homes in Philadelphia, NY cost?
Median Sold Price
$185,000
$87/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Philadelphia have sold for 9.3% less than they did a year ago.
Summary: The median home sold price in Philadelphia was $185,000 in March 2024, down 9.3% from last year, and the median price per square foot was $87.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $265K | N/A |
| 2 Bedrooms | $120K | $141K | +17.5% |
| 3 Bedrooms | $178K | $219.5K | +23.3% |
| 4 Bedrooms | $258K | $147.1K | -43.0% |
| 5+ Bedrooms | $399K | $160K | -59.9% |
Summary: Philadelphia housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 23.3%, 4 bedroom homes decreased by 43%, and 5+ bedroom homes decreased by 59.9%.
Housing Supply in Philadelphia, NY
How many homes are available in Philadelphia, NY?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Summary: The Philadelphia real estate market had 6 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Philadelphia housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Philadelphia, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Philadelphia in March 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Philadelphia, NY
How long does it take to sell a home in Philadelphia, NY?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 170 Days | 107 Days | -37.1% |
Summary: Homes in Philadelphia had an average of 107 days on market in Mar 2024, down by 37.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Philadelphia are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 1 homes were sold in Philadelphia; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
