$4,097 Closing Credit*
$344,999
968 SqFt
2 Beds
•2 Full Baths
Stephen M Kennedy, Listing Office: KW Empower
Is South Philadelphia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, South Philadelphia was a Seller's Market.
Key Takeaway
South Philadelphia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Philadelphia, PA
How much do homes in South Philadelphia, PA cost?
Median Sold Price
$346,550
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$3,651(+1.1%)
Key Takeaway
Homes in South Philadelphia have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in South Philadelphia was $346,550 in November 2024, up 1.1% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $302.5K | $310K | +2.5% |
| 2 Bedrooms | $290K | $300.9K | +3.8% |
| 3 Bedrooms | $341K | $337K | -1.2% |
| 4 Bedrooms | $536.5K | $572.5K | +6.7% |
| 5+ Bedrooms | $440K | $470K | +6.8% |
Summary: South Philadelphia housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Marconi Plaza | $280K | $297.7K | +6.3% |
| South Philadelphia | $342.8K | $346.5K | +1.1% |
| East Oregon | $247.7K | $250K | +0.9% |
| Whitman | $270K | $256K | -5.2% |
Housing Supply in South Philadelphia, PA
How many homes are available in South Philadelphia, PA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,044 | 1,044 | 0.0% |
Summary: The South Philadelphia real estate market had 1,044 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 23 | +4.5% |
| 2 Bedrooms | 273 | 283 | +3.7% |
| 3 Bedrooms | 553 | 531 | -4.0% |
| 4 Bedrooms | 156 | 165 | +5.8% |
| 5+ Bedrooms | 40 | 42 | +5.0% |
Summary: The South Philadelphia housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 178 | 149 | -16.3% |
Asking Price vs. Sold Price
92 Homes Were Sold
Under Asking
31 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Philadelphia, you may be able to get a good deal. 61.7% of homes here sold below asking price last month.
Summary: A total of 149 homes were sold or pending in South Philadelphia in November 2024, down by 16.3% month-over-month. Of the 149 sold homes, 62% were sold under asking, 21% were sold at asking, and 17% were sold over asking.
Days on Market for South Philadelphia, PA
How long does it take to sell a home in South Philadelphia, PA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 55 Days | 64 Days | +15.7% |
Summary: Homes in South Philadelphia had an average of 64 days on market in Nov 2024, up by 15.7% compared to last year.
Breakdown of Home Sale Times
72 Homes Were Sold
Under 30 Days
40 Homes Were Sold
In 30 - 90 Days
37 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Philadelphia are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 149 homes were sold in South Philadelphia; 48% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
