The median list price in PHILADELPHIA, PA this week is $130,000.
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 has been consistently cool for several weeks. Demand level are low relative to the available inventory. It’s a Buyer’s market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.
CLICK HERE to download the full Philadelphia Market Report!
For more information regarding condos/townhomes in Philadelphia, PA, CLICK HERE to contact The Mike McCann Team