Is Far Northeast Philadelphia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Far Northeast Philadelphia was a Seller's Market.
Housing Prices in Far Northeast Philadelphia, PA
How much do homes in Far Northeast Philadelphia, PA cost?
Median Sold Price
$320,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Far Northeast Philadelphia was $320,000 in March 2024, up 3.2% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $180K | $200.7K | +11.5% |
2 Bedrooms | $250K | $250K | 0.0% |
3 Bedrooms | $311K | $320K | +2.9% |
4 Bedrooms | $400K | $411.5K | +2.9% |
5+ Bedrooms | $482.5K | $488.5K | +1.2% |
Summary: Far Northeast Philadelphia housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes did not change, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Neighborhoods
Modena Park | $300K | $315K | +5.0% |
Far Northeast Philadelphia | $310K | $320K | +3.2% |
Morrell Park | $295K | $299.9K | +1.7% |
Academy Gardens | $300K | $305K | +1.7% |
Housing Supply in Far Northeast Philadelphia, PA
How many homes are available in Far Northeast Philadelphia, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
510 | 530 | +3.9% |
Summary: The Far Northeast Philadelphia real estate market had 530 homes for sale in March 2024, a 3.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 15 | 0.0% |
2 Bedrooms | 65 | 64 | -1.5% |
3 Bedrooms | 289 | 305 | +5.5% |
4 Bedrooms | 120 | 125 | +4.2% |
5+ Bedrooms | 21 | 21 | 0.0% |
Summary: The Far Northeast 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 decreased by 1.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
76 | 87 | +14.5% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 87 homes were sold or pending in Far Northeast Philadelphia in March 2024, up by 14.5% month-over-month. Of the 87 sold homes, 39% were sold under asking, 21% were sold at asking, and 40% were sold over asking.
Days on Market for Far Northeast Philadelphia, PA
How long does it take to sell a home in Far Northeast Philadelphia, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
26 Days | 20 Days | -22.7% |
Summary: Homes in Far Northeast Philadelphia had an average of 20 days on market in Mar 2024, down by 22.7% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 87 homes were sold in Far Northeast Philadelphia; 77% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.