$4,571 Closing Credit*
$384,900
1,722 SqFt
3 Beds
•2 Full Baths, 1 Partial
Christine T Cole, Listing Office: Re/Max One Realty
Is Far Northeast Philadelphia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Far Northeast Philadelphia has remained a Seller's Market.
Key Takeaway
Far Northeast Philadelphia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Far Northeast Philadelphia, PA
How much do homes in Far Northeast Philadelphia, PA cost?
Median Sold Price
$330,000
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,077(+6.1%)
Key Takeaway
Homes in Far Northeast Philadelphia have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Far Northeast Philadelphia was $330,000 in October 2024, up 6.1% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $190K | -13.6% |
| 2 Bedrooms | $245.9K | $264.9K | +7.7% |
| 3 Bedrooms | $315K | $334.9K | +6.3% |
| 4 Bedrooms | $411.5K | $413K | 0.4% |
| 5+ Bedrooms | $485K | $515K | +6.2% |
Summary: Far Northeast Philadelphia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.6%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Academy Gardens | $300K | $319K | +6.3% |
| Far Northeast Philadelphia | $310.9K | $330K | +6.1% |
| Modena Park | $300K | $315K | +5.0% |
| Morrell Park | $299K | $308K | +3.0% |
Housing Supply in Far Northeast Philadelphia, PA
How many homes are available in Far Northeast Philadelphia, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 360 | 384 | +6.7% |
Summary: The Far Northeast Philadelphia real estate market had 384 homes for sale in October 2024, a 6.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 17 | +21.4% |
| 2 Bedrooms | 60 | 57 | -5.0% |
| 3 Bedrooms | 219 | 244 | +11.4% |
| 4 Bedrooms | 58 | 59 | +1.7% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Far Northeast Philadelphia housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 105 | -0.9% |
Asking Price vs. Sold Price
49 Homes Were Sold
Under Asking
30 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Far Northeast Philadelphia, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.
Summary: A total of 105 homes were sold or pending in Far Northeast Philadelphia in October 2024, down by 0.9% month-over-month. Of the 105 sold homes, 47% were sold under asking, 29% were sold at asking, and 25% were sold over asking.
Days on Market for Far Northeast Philadelphia, PA
How long does it take to sell a home in Far Northeast Philadelphia, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 25 Days | +7.1% |
Summary: Homes in Far Northeast Philadelphia had an average of 25 days on market in Oct 2024, up by 7.1% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Far Northeast Philadelphia are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 105 homes were sold in Far Northeast Philadelphia; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
