Is Southwest 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, Southwest Philadelphia was a Seller's Market.
Housing Prices in Southwest Philadelphia, PA
How much do homes in Southwest Philadelphia, PA cost?
Median Sold Price
$139,999
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southwest Philadelphia was $139,999 in April 2024, down 3.4% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $100K | $86.7K | -13.3% |
3 Bedrooms | $139.9K | $133K | -4.9% |
4 Bedrooms | $185K | $197K | +6.5% |
5+ Bedrooms | $223.5K | $200K | -10.5% |
Summary: Southwest Philadelphia housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.3%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 10.5%.
Housing Supply in Southwest Philadelphia, PA
How many homes are available in Southwest Philadelphia, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
255 | 257 | +0.8% |
Summary: The Southwest Philadelphia real estate market had 257 homes for sale in April 2024, a 0.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 19 | 18 | -5.3% |
3 Bedrooms | 192 | 193 | 0.5% |
4 Bedrooms | 38 | 38 | 0.0% |
5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Southwest Philadelphia housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 0.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 35 | 0.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Southwest Philadelphia in April 2024, the same as the previous month. Of the 35 sold homes, 60% were sold under asking, 14% were sold at asking, and 26% were sold over asking.
Days on Market for Southwest Philadelphia, PA
How long does it take to sell a home in Southwest Philadelphia, PA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
59 Days | 70 Days | +18.4% |
Summary: Homes in Southwest Philadelphia had an average of 70 days on market in Apr 2024, up by 18.4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 35 homes were sold in Southwest Philadelphia; 51% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.