$2,375 Closing Credit*
$199,999
1,206 SqFt
2 Beds
•1 Full Bath
Rozena Blocker
Is West 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, West Philadelphia was a Seller's Market.
Key Takeaway
West Philadelphia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Philadelphia, PA
How much do homes in West Philadelphia, PA cost?
Median Sold Price
$183,687
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$3,699(+2.1%)
Key Takeaway
Homes in West Philadelphia have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in West Philadelphia was $183,687 in October 2024, up 2.1% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $146K | +0.7% |
| 2 Bedrooms | $150K | $117K | -22.0% |
| 3 Bedrooms | $165.8K | $164.9K | -0.6% |
| 4 Bedrooms | $232K | $238.2K | +2.7% |
| 5+ Bedrooms | $398K | $420K | +5.5% |
Summary: West Philadelphia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes decreased by 22%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Cobbs Creek | $156.6K | $169.9K | +8.5% |
| West Philadelphia | $179.9K | $183.6K | +2.1% |
| Haddington | $123.7K | $119K | -3.8% |
| Carroll Park | $127K | $115K | -9.4% |
Housing Supply in West Philadelphia, PA
How many homes are available in West Philadelphia, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 645 | 709 | +9.9% |
Summary: The West Philadelphia real estate market had 709 homes for sale in October 2024, a 9.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 12 | +71.4% |
| 2 Bedrooms | 49 | 49 | 0.0% |
| 3 Bedrooms | 374 | 416 | +11.2% |
| 4 Bedrooms | 135 | 150 | +11.1% |
| 5+ Bedrooms | 80 | 82 | +2.5% |
Summary: The West Philadelphia housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 71.4%, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 2.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 97 | 91 | -6.2% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Philadelphia, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 91 homes were sold or pending in West Philadelphia in October 2024, down by 6.2% month-over-month. Of the 91 sold homes, 62% were sold under asking, 20% were sold at asking, and 19% were sold over asking.
Days on Market for West Philadelphia, PA
How long does it take to sell a home in West Philadelphia, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 55 Days | 42 Days | -23.1% |
Summary: Homes in West Philadelphia had an average of 42 days on market in Oct 2024, down by 23.1% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Philadelphia are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 91 homes were sold in West Philadelphia; 54% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
