Is Center City, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Center City was a Neutral Market.
Key Takeaway
Center City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Center City, PA
How much do homes in Center City, PA cost?
Median Sold Price
$461,653
$400/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Center City have sold for 15.1% less than they did a year ago.
Summary: The median home sold price in Center City was $461,653 in April 2024, down 15.1% from last year, and the median price per square foot was $400.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $286.6K | -1.1% |
| 2 Bedrooms | $548.5K | $500K | -8.8% |
| 3 Bedrooms | $835K | $884.5K | +5.9% |
| 4 Bedrooms | $1.3M | $1.3M | 0.2% |
| 5+ Bedrooms | $1.8M | $1.5M | -17.0% |
Summary: Center City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 17%.
Median Sold Price Compared To Nearby Neighborhoods
| Washington Square West | $530.5K | $482K | -9.1% |
| Center City | $543.7K | $461.6K | -15.1% |
Housing Supply in Center City, PA
How many homes are available in Center City, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 574 | 646 | +12.5% |
Summary: The Center City real estate market had 646 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 177 | 198 | +11.9% |
| 2 Bedrooms | 199 | 226 | +13.6% |
| 3 Bedrooms | 109 | 118 | +8.3% |
| 4 Bedrooms | 58 | 72 | +24.1% |
| 5+ Bedrooms | 31 | 32 | +3.2% |
Summary: The Center City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.9%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 3.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 61 | 75 | +23.0% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Center City, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.
Summary: A total of 75 homes were sold or pending in Center City in April 2024, up by 23.0% month-over-month. Of the 75 sold homes, 73% were sold under asking, 16% were sold at asking, and 11% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 65 Days | 90 Days | +37.1% |
Summary: Homes in Center City had an average of 90 days on market in Apr 2024, up by 37.1% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
27 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Center City are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 75 homes were sold in Center City; 49% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
