Here are the updates for the Philadelphia real estate market for the week of October 12th, 2015. Keep in mind, these numbers will vary depending on the Price Range and the Specific Neighborhood you are buying or selling in.
- Median list price in Philadelphia this week is $249,250
- Average days on market (DOM) is 157
- Inventory is up and the Market Action is trending down recently.
- Days-on-market is trending lower, overall conditions are weakening a bit
Supply & Demand
The Philadelphia real estate market has been cooling over time and prices have been flat for a while. Despite the consistent decrease in the index we are in a Seller’s Market. If the index resumes it’s climb, prices will likely follow. If the index drops consistently or falls into the Buyer’s zone there will be a downward pressure on prices.