$3,432 Closing Credit*
$289,000
1,160 SqFt
2 Beds
•1 Full Bath, 1 Partial
Hala Mahran, Listing Office: Homestarr Realty
Is South Philadelphia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, South Philadelphia was a Seller's Market.
Key Takeaway
South Philadelphia is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South Philadelphia, PA
How much do homes in South Philadelphia, PA cost?
Median Sold Price
$349,975
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,770(+2.3%)
Key Takeaway
Homes in South Philadelphia have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in South Philadelphia was $349,975 in October 2024, up 2.3% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $302.5K | $310K | +2.5% |
| 2 Bedrooms | $294.3K | $303.1K | +3.0% |
| 3 Bedrooms | $339.6K | $339.6K | 0% |
| 4 Bedrooms | $535K | $572.5K | +7.0% |
| 5+ Bedrooms | $475K | $500K | +5.3% |
Summary: South Philadelphia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 3%, 3 bedroom homes did not change, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Neighborhoods
| South Philadelphia | $342.2K | $349.9K | +2.3% |
| East Oregon | $249K | $245K | -1.6% |
| Marconi Plaza | $295K | $287.5K | -2.5% |
| Whitman | $270K | $250.2K | -7.3% |
Housing Supply in South Philadelphia, PA
How many homes are available in South Philadelphia, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,022 | 1,162 | +13.7% |
Summary: The South Philadelphia real estate market had 1,162 homes for sale in October 2024, a 13.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 23 | 0.0% |
| 2 Bedrooms | 275 | 308 | +12.0% |
| 3 Bedrooms | 538 | 616 | +14.5% |
| 4 Bedrooms | 153 | 172 | +12.4% |
| 5+ Bedrooms | 33 | 43 | +30.3% |
Summary: The South Philadelphia housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 30.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 139 | 167 | +20.1% |
Asking Price vs. Sold Price
111 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
34 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. 66.5% of homes here sold below asking price last month.
Summary: A total of 167 homes were sold or pending in South Philadelphia in October 2024, up by 20.1% month-over-month. Of the 167 sold homes, 66% were sold under asking, 13% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 61 Days | +34.6% |
Summary: Homes in South Philadelphia had an average of 61 days on market in Oct 2024, up by 34.6% compared to last year.
Breakdown of Home Sale Times
87 Homes Were Sold
Under 30 Days
43 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 October 2024, 167 homes were sold in South Philadelphia; 52% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
