Philadelphia Real Estate Values Level Off

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Market Trends

Like my faith in the Phillies, value of residential real estate was up 1.1% 2018 Q4 and up 4.1% from a year ago.  Compared to the last two Q4s (2017 up 6.4%, 2018 up 11.8%) this a significant leveling off.  Values by submarket were: Center City/Fairmount (-0.3%), Northwest Philadelphia (-0.1%), South Philadelphia (-0.1%), Kensington/Frankford (+1.2%), Upper Northeast Philadelphia (+1.6%), Lower Northeast Philadelphia (+1.7%), University City (+2.2%), West Philadelphia (+2.4%) and North Philadelphia (+2.8%).  SO WHAT DOES THIS MEAN?  For homeowners looking to sell, a cooling market is the perfect time to list your property.  For buyers, a cooling market is making homes more affordable.  It also means that the Phillies are going to have great 2019!

 If you want to get granular with this data from the Lindy Institute click here!

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Mark Newell 267-250-8810  Michele Hill 609-703-1364