Home Sales Report for Philadelphia Q1 2018

Real Estate With Heart April 30, 2018

“The first quarter of 2018 has been an intriguing one. Initially we were seeing sluggish sales numbers in January and early February, but then the quarter ended on a high note. Prices remain at all time highs, and for most zip codes, we are seeing modest increases. The really interesting figure to observe is the difference from the first quarter of 2017 to the first quarter of 2018 in inventory levels. Most zip codes are seeing significant drops in the number of homes for sale. In some areas, the drop is quite dramatic. This will be an interesting data point to observe as we head into the rest of 2018. If inventory levels remain this low, we should see upwards movement in values. For now, interest rates are holding steady in the low to mid 4% range and this is all leading to a continued solid market in 2018.”

 

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If you have any specific questions about the market or this report, please feel free to reach out to us on the blog or at info@realestatewithheart.com.

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  1. I just read an article, https://www.homelight.com/blog/sell-house-fast-in-philadelphia/, that details the recent sizzle of the Philadelphia market for Millennials and for urban folks who don’t want to buy in more expensive cities. It sounds as if these folks have bought up the inventory, so maybe prices will begin to imitate those in the higher-priced cities. Still, sellers should do the savvy things anyway, as the article points out: price right, even in a seller’s market, and do your house prep. with thorough decluttering and cleaning, and with gorgeous staging.

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