7/29/2010

Is Philadelphia Housing market Improving?





The real estate market across the country has been in a bad position, but Philadelphia seems to be holding its ground.  Although it has seen great losses the market has remained more stable than most major cities.  The median sales price for homes in Philadelphia, PA for April 2010 to June 2010 was $139,900.  This represents an increase of 16.6%, or $19,900, compared to the prior quarter and an increase of 3.7% compared to the prior year.  Sales prices have appreciated 33.2% over the last 5 years in Philadelphia.  All in all the market is not great but showing signs of improvement.  Popular neighborhoods in Philadelphia include Northeast philadelphia, Manayunk, Chestnut Hill, Center City East, West Mount Airy, and Kensington.


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