(Courtesy of Altos Research LLC.)
The median list price in PHILADELPHIA, PA this week is $129,000.
Inventory and days-on-market are both trending higher recently. However, the improving Market Action Index implies some increased demand will temper the negative trends.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from
there.
Price
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
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