If you are a homebuyer or seller in the Philadelphia County, educate yourself about the market and important statistics for both homebuyers and sellers.
Units sold in September 2010 were down 30% from 2009. In September 2010, 722 units were sold, as opposed to the 2009 12-month average of 1,009.
Active inventory is decreased by 1% from 2009, which is only a difference of 59 units.
The median sale price has decreased by 4% from September 2009. The median price in 2009 was $139,900 and currently is $135,000, a decrease of $4,900.
Months of supply have increased by 42% since September 2009; homes are on the market about for about 13.5 months in 2010, versus 9.5 months in 2009.
New listings and current contracts have also decreased since 2009. In September 2009, 2,329 homes were on the market and 1,259 pending contracts. In September 2010, 2,118 homes were on the market, a decrease of 9%; and 688 contracts were pending.
List price to sale price ratio was 94.1% in September 2010; which is 0.7% lower than in 2009.
Days on market; the average was 73 in September 2010, which is a 1% increase from 2009’s average of 72 days on the market.