(Data collected from Altos Research.)
The median list price in PHILADELPHIA, PA this week is $129,900.
Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market.
Supply and Demand
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Price
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
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