Is Lower North Philadelphia, 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, Lower North Philadelphia was a Seller's Market.
Housing Prices in Lower North Philadelphia, PA
How much do homes in Lower North Philadelphia, PA cost?
Median Sold Price
$366,253
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lower North Philadelphia was $366,253 in April 2024, down 4.8% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $281K | $280K | -0.4% |
2 Bedrooms | $380K | $355K | -6.6% |
3 Bedrooms | $442.8K | $432.5K | -2.3% |
4 Bedrooms | $495K | $436.2K | -11.9% |
5+ Bedrooms | $260K | $283.7K | +9.1% |
Summary: Lower North Philadelphia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes increased by 9.1%.
Housing Supply in Lower North Philadelphia, PA
How many homes are available in Lower North Philadelphia, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
728 | 823 | +13.0% |
Summary: The Lower North Philadelphia real estate market had 823 homes for sale in April 2024, a 13.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 59 | 68 | +15.3% |
2 Bedrooms | 177 | 196 | +10.7% |
3 Bedrooms | 296 | 329 | +11.1% |
4 Bedrooms | 135 | 164 | +21.5% |
5+ Bedrooms | 61 | 66 | +8.2% |
Summary: The Lower North Philadelphia housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 21.5%, and 5+ bedroom homes increased by 8.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
99 | 98 | -1.0% |
Asking Price vs. Sold Price
59 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 98 homes were sold or pending in Lower North Philadelphia in April 2024, down by 1.0% month-over-month. Of the 98 sold homes, 60% were sold under asking, 24% were sold at asking, and 15% were sold over asking.
Days on Market for Lower North Philadelphia, PA
How long does it take to sell a home in Lower North Philadelphia, PA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
64 Days | 56 Days | -12.7% |
Summary: Homes in Lower North Philadelphia had an average of 56 days on market in Apr 2024, down by 12.7% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During April 2024, 98 homes were sold in Lower North Philadelphia; 53% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.