$2,255 Closing Credit*
$189,900
1,336 SqFt
3 Beds
•1 Full Bath, 1 Partial
Jamaica Owens, Listing Office: Domain Real Estate Group, LLC
Is Southwest Philadelphia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Southwest Philadelphia has remained a Seller's Market.
Key Takeaway
Southwest Philadelphia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest Philadelphia, PA
How much do homes in Southwest Philadelphia, PA cost?
Median Sold Price
$149,755
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,080(+4.2%)
Key Takeaway
Homes in Southwest Philadelphia have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Southwest Philadelphia was $149,755 in November 2024, up 4.2% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $46K | N/A |
| 2 Bedrooms | $94.5K | $109.7K | +16.1% |
| 3 Bedrooms | $136.7K | $144.5K | +5.7% |
| 4 Bedrooms | $187.5K | $189.8K | +1.3% |
| 5+ Bedrooms | $220K | $275K | +25.0% |
Summary: Southwest Philadelphia housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 25%.
Housing Supply in Southwest Philadelphia, PA
How many homes are available in Southwest Philadelphia, PA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 249 | 269 | +8.0% |
Summary: The Southwest Philadelphia real estate market had 269 homes for sale in November 2024, a 8.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 23 | 28 | +21.7% |
| 3 Bedrooms | 186 | 197 | +5.9% |
| 4 Bedrooms | 30 | 33 | +10.0% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Southwest Philadelphia housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 21.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 46 | +9.5% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Philadelphia, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 46 homes were sold or pending in Southwest Philadelphia in November 2024, up by 9.5% month-over-month. Of the 46 sold homes, 57% were sold under asking, 15% were sold at asking, and 28% were sold over asking.
Days on Market for Southwest Philadelphia, PA
How long does it take to sell a home in Southwest Philadelphia, PA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 44 Days | +19.4% |
Summary: Homes in Southwest Philadelphia had an average of 44 days on market in Nov 2024, up by 19.4% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Philadelphia are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 46 homes were sold in Southwest Philadelphia; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
