What Time Is The Florida State Miami Football Game Selling My House in Philadelphia, PA

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Selling My House in Philadelphia, PA

Savvy Philadelphia homeowners want to know the score before they decide, “I want to sell my house.” Understanding the market can make the difference between simply offloading your home or getting the best possible deal for it. Educated sellers can make a significant contribution to the sales process by acting as team players with their real estate agents.

If you’re planning to sell your home, it pays to ask important questions and have market data at your fingertips.

If I decide to sell my house, how long can I expect it to be on the market?

Due to a 24 percent reduction in inventory – that is. number of homes for sale – Compared to last year, Philadelphia home sales moved quite quickly in 2017. Overall, Philadelphia homes sold in an average of 98 days last year, about two weeks faster than the year before. Quick flips are a trend that is expected to continue — perhaps even accelerate — as long as the supply of homes for sale remains limited.

What is the average sale price of homes in Philadelphia?

With Philadelphia still a hot market in December 2017, home prices rose 9.1 percent in the past year alone. Experts predict that this trend will continue in the coming year. Currently, homes in the city are selling for an average of $145 per square foot, with a median closing price of about $180,000. This represents an average of 97.2 percent of list price and is the highest level for homes in the City of Brotherly Love.

How many homes have sold in Philadelphia in the last few months?

According to Realtor.com, about 12,776 homes have sold in Philadelphia in recent months. Long & Foster’s Market Minute shows that 1,309 homes sold in Philadelphia County in December 2017 alone, a 3 percent decrease from last year that is directly attributable to a 24 percent decrease in the number of homes.

What are the current trends in the Philadelphia real estate market?

The Philadelphia real estate market continues to be a strong seller’s market. Real estate is on the rise and is expected to do so for the foreseeable future. Construction exploded in new neighborhoods, increasing demand in those areas. Experts are predicting a 5 to 6 percent year-over-year increase in median sales prices as new listings continue to decline and demand continues to grow. In other words, the market is, and will continue to be, hot for sellers and very competitive from a buyer’s point of view.

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