Is the Tide Turning for the Red Hot Philadelphia Housing Market?

Posted on Jan 23, 2018


The data shows some mixed signals on whether the trend of recent price appreciation in the market will break.

Houwzer Senior Economic Advisor Kevin Gillen has just released his latest report detailing the housing market dynamics for the city of Philadelphia in Q4 2017.

Home prices in the city fell by 0.5% on a quality- and seasonally-adjusted basis in Q4. While this is a potential sign of buyers' reluctance to pay ever-higher prices for Philadelphia housing stock, the average price of a home is still up 12.7% from one year ago.

However, buyers may not have much of a choice in the matter--inventory has dwindled to only 3,329 homes in the entire city which is an all-time low in our records going back to 2001. This low inventory environment will continue to create upward price pressure as long as buyers keep entering the market this spring.

Read the full report below:

Thinking about buying or selling in 2018? We'd be happy to give you a free consultation regarding your home sale or search. 

Get Started


Recent Articles

 Should You Renovate Before Selling Your Home? The Definitive Guide

Should You Renovate Before Selling Your Home? The Definitive Guide

Posted on May 27, 2020

When it comes time to sell, many homeowners wonder: can I get more money for my house, if I renovate it first? Homeowners are aware that buyers gravitate toward features like contemporary bathrooms, and kitchens with energy-efficient appliances. 

Selling your home after COVID-19? Here’s how to prepare and save thousands

Selling your home after COVID-19? Here’s how to prepare and save thousands

Posted on May 12, 2020

The spring real estate market was supposed to be hot. Months of extremely low inventory, combined with high demand, led to a shortage in available homes. But just as sellers were starting to come around, COVID-19 threw the world off kilter and the spring market grounded to a halt. 

May 2020 Housing Market Outlook

May 2020 Housing Market Outlook

Posted on May 01, 2020

Each month we are posting an updated Market Outlook based on the questions we receive from clients, employees, and investors about the implications for the housing and mortgage markets in which we are active (read April's Outlook here).