"The number of listings on the market shrank 1.7% from last month, which is typical for this time of the year in Philadelphia, and homes are also selling close to the same pace as the same time last year. Home prices in Philadelphia Typically, home price per square foot in Philadelphia tend to fall in November. And the most recent data shows that the price per square foot decreased by 1.2% compared with the month before."
"So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in the City of Brotherly Love are keeping pace with the national market. Philadelphia inventory In November, there were 4,647 homes for sale in Philadelphia, which was 1.7% less than the month before and 1.3% more than the same time last year."
"Meanwhile, active inventory across the nation fell by 2.5% from last month to 1,072,266. The number of new listings in Philadelphia was 1,480, which was 17.7% less than the month before and 2.1% less than the same time last year. Nationally, the number of new listings fell by 14.1% from last month to 330,908. Homes in Philadelphia take an average of 57 days to sell, according to November figures."
Median listing price in Philadelphia was $280,000 in November, with home prices falling moderately month-over-month. Price per square foot in Philadelphia decreased 1.2% from the previous month, matching the national per-square-foot decline of 1.2%. Active inventory in Philadelphia stood at 4,647 homes, down 1.7% month-over-month and up 1.3% year-over-year. New listings in Philadelphia numbered 1,480, a 17.7% drop from the prior month and 2.1% decline year-over-year. National active inventory fell to 1,072,266 and national new listings dropped 14.1% month-over-month. Homes in Philadelphia averaged 57 days on market, one day faster than both last month and last year; national average was 64 days.
Read at SFGATE
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