Is Near Northeast 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, Near Northeast Philadelphia was a Seller's Market.
Key Takeaway
Near Northeast 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 Near Northeast Philadelphia, PA
How much do homes in Near Northeast Philadelphia, PA cost?
Median Sold Price
$219,976
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Near Northeast Philadelphia has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92K | $108K | +17.4% |
| 2 Bedrooms | $170K | $165K | -2.9% |
| 3 Bedrooms | $220K | $220K | 0.0% |
| 4 Bedrooms | $275K | $255K | -7.3% |
| 5+ Bedrooms | $295K | $252.5K | -14.4% |
Summary: Near Northeast Philadelphia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes did not change, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes decreased by 14.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Wissinoming | $184.9K | $190K | +2.7% |
| Mayfair | $243K | $245K | +0.8% |
| Near Northeast Philadelphia | $220K | $219.9K | 0% |
| Oxford Circle | $227.6K | $226K | -0.7% |
Housing Supply in Near Northeast Philadelphia, PA
How many homes are available in Near Northeast Philadelphia, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 630 | 683 | +8.4% |
Summary: The Near Northeast Philadelphia real estate market had 683 homes for sale in April 2024, a 8.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 57 | 68 | +19.3% |
| 3 Bedrooms | 480 | 508 | +5.8% |
| 4 Bedrooms | 70 | 79 | +12.9% |
| 5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The Near Northeast Philadelphia housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 19.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 147 | 115 | -21.8% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Near Northeast Philadelphia, you may be able to get a good deal. 47.8% of homes here sold below asking price last month.
Summary: A total of 115 homes were sold or pending in Near Northeast Philadelphia in April 2024, down by 21.8% month-over-month. Of the 115 sold homes, 48% were sold under asking, 24% were sold at asking, and 28% were sold over asking.
Days on Market for Near Northeast Philadelphia, PA
How long does it take to sell a home in Near Northeast Philadelphia, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 41 Days | -6.1% |
Summary: Homes in Near Northeast Philadelphia had an average of 41 days on market in Apr 2024, down by 6.1% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Near Northeast Philadelphia are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 115 homes were sold in Near Northeast Philadelphia; 63% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
