"In October, home prices remained unchanged from the month before, with a median listing price of $285,000. The number of listings on the market remained practically unchanged from last month, but it is a smaller increase than normal for this time of the year in Philadelphia, and homes are also selling close to the same pace as the same time last year."
"Typically, home price per square foot in Philadelphia tend to rise in October. And the most recent data shows that the price per square foot increased by 0.8% compared with the month before. So, how does this compare with the rest of the U.S? Nationally, home price per square foot decreased 0.8%, which means price changes in the City of Brotherly Love are outpacing the national market."
"In October, there were 4,726 homes for sale in Philadelphia, which was 0.7% more than the month before and 3.1% more than the same time last year. Meanwhile, active inventory across the nation remained practically unchanged from last month to 1,100,001. The number of new listings in Philadelphia was 1,796, which was 2.1% less than the month before and 1.0% less than the same time last year. Nationally, the number of new listings fell by 2.7% from last month to 384,264."
Home prices in Philadelphia were unchanged month-over-month in October, with a median listing price of $285,000. Price per square foot rose 0.8% from the previous month, outpacing the national per-square-foot decline of 0.8%. Inventory in the city totaled 4,726 homes for sale, up 0.7% month-over-month and 3.1% year-over-year, while new listings numbered 1,796, down 2.1% from the prior month and 1.0% year-over-year. National active inventory remained virtually unchanged at 1,100,001. Homes in Philadelphia averaged 58 days on market, three days faster than the prior month and three days slower year-over-year; national average was 63 days.
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