Knowing the value of your home in Philadelphia
Are you looking to “sell my house fast Philadelphia“? But you are not sure what the value of your home is. It is a dilemma that plenty of people face when it comes time to sell. How can we figure out precisely what our home is worth? In certain parts of the city, there are different values to homes. There’s a lot that goes into Factor. Such things as condition, neighborhood, style of your home, and plenty more. We will break down by each neighborhood what homes are typically going for in today’s market.
The Germantown section of Philadelphia is very historic. With plenty of Victorian-style homes that are extremely large. This area is becoming a very desirable place to be. Especially investors are buying up homes here when they can. If you’re looking to “sell my house fast Philadelphia” and own property in Germantown. Then you should have no problem doing this. The average median sales price in Germantown is $273,000. With the average home sitting on the market for 45 days. That is just over a month it should take your home to sell. Depending on the style of your home, you should be getting close to $200,000. Unless the house is in disrepair and needs tons of work. If this is the case, you’re looking closer to $100,000 for your property. There are significant style homes in Germantown, so if your home has more than five bedrooms to it. Then you can expect more when selling.
In recent years the graduate hospital has become one of the more expensive areas to live in Philadelphia. It is located in South Philadelphia, just south of the center city. It is a tight little pocket of the city. Where home values are priced at a median of $642,000. That is a 9% increase from last year. With properties only sitting on the market for 30 days, you can see that this is a scorching area to live in the city. If you own a standard small row home in this section, you could be looking to get close to $400,000 for your property. since this action doesn’t have too many homes that need work, you want to stay close to the 600,000 range when selling. It may be good to contact a local real estate agent in this area to help you get your home sold. As for the regions concerned, the agent shouldn’t have too many issues dealing with.
Port Richmond is a great place to be because of its location. It is right there, nestled next to interstate 95. And just north of the city’s Fishtown section. The only bad part is that it neighbors Kensington just across Aramingo avenue. Making for the home values to not be as high as they should be. The median sales price in Port Richmond is $210,000. The average home sits on the market for about 55 days. So you can see the homes sell a little bit longer over here. But the median sales price continues to rise each year. If your home has not been rehabbed, you should be looking closer to 100,000 for your property. It tends to be higher scaled homes selling at that median sales price.
Kingsessing is located in southwest Philadelphia. Just below Baltimore Pike in West Philadelphia. This section of the city has seen some severe increase as well. About 5 years ago, homes in this area sold for 20 to $50,000. As of today, the median home price is $155,000. Homes tend to only sit on the market for no more than 65 days. It is close to the cities, a squirrel Hill section of the southwest. This section has seen much more increase than any part of Southwest Philadelphia. This section of the city has an average listing price of $395,000. About 10 years ago, you could find homes under $100,000 here. It is an excellent area for investors and homeowners alike. With values continuing to soar each year, it is the desired area for people to purchase. It is an extreme convenience enclosed proximity to University City. Which is one of the city’s hottest sections of Philadelphia right now. People should have no problem on the way to “sell my house fast Philadelphia” if they live in this section.
This might be a section of the city on the lower scale of the median sales price. The average home sells for $109,000 in this area, with the house sitting on the market for only 45 days. Yes, it may be on the lower end. It is why it is the desired location for investors. Since the rental rates are close to over $1,000 for a home in this area. The taxes are low, and the home prices are standard as well. Making it highly desirable for investors to purchase homes in this area. Plenty of cash home buyers have made this their home. A few years ago, the prices were below $50,000 in this area. Now you have noticed that the houses have doubled in value recently.
Investing or buying
If you’re looking to invest in the city of Philadelphia for rental purposes. We can highly recommend that it is a great idea to do so. Even if you’re just looking to purchase a home to live in. Philadelphia has become home to many out-of-state homeowners. Buying up homes all across the city. Certain sections have seen a high increase of out-of-state owners. Either coming here for schools or jobs and calling it home. When we buy houses Philadelphia, we may be researching the best area. Hopefully, this article has shown you the best places to live in the city. Philadelphia is the fifth-largest city in America population-wise.
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