Is it time to sell my home in 19152? [Real NEastate]
Q: Please give me good news. I really want know about the market in Northeast Philly 19152 zip code. If there is good news, I might be able to sell my house. It has been on and off the market for a couple years with no luck.
A: Location, condition, price. Those are the three things that motivate a buyer to buy a particular home. And, for the right price, any home in any location or condition can be sold.
You can sell your house in any market, really. It just depends on whether or not it is priced for the market you’re selling. Sellers who ignore the average selling prices for a similar home are the ones who have a hard time – in every market.
Who sets market prices? The consumer does. In the case of a housing market, it is home buyers who are buying the properties. If they are not buying properties at higher prices than they prefer to pay, those houses end up being priced above the market and don’t sell. All the rest will find a buyer.
The market in the Northeast Philly is not a bad market. Here are some statistics for the 19152 zip code:
Market Statistics Criteria Used
Date Range: 4/2012 to 4/2013
Price Range: $0 to $999,000
Property Category: Residential
Area: 19152
Inventory Accumulation for the Last 12 Full Months
|
|
|
|
|
Current Inventory * |
Inventory Volume |
Current Average |
Average Monthly Sales** |
Inventory Accumulation *** |
113 |
20,253,471 |
179,234 |
18 |
6 |
*Current Inventory is based on the actual available properties on the date this report was created.
**Average Monthly Sales is the average sales for the last 12 full months
***Inventory accumulation (in months) = Current Inventory Units / Average Monthly Sales
Pricing Details of Sold Units for the Date Range Selected
Minimum Prices |
Maximum Prices |
Average Prices |
Original List Price : $40,000 |
Original List Price: $479,900 |
Original List Price: $179,065 |
Sold Price : $40,000 |
Sold Price: $435,000 |
Sold Price: $163,981 |
© Copyright 2013 TREND MLS – Information Deemed Reliable but Not Guaranteed. Printed 4/16/2013 10:37:01 AM
In the average prices you see listed to the far right in the table above, You will see an 8 percent differential in what homes in the past 12 months have been listed and what they have sold. That is the difference in a seller’s expectations and a buyer’s expectations in the average 19152 price range.
Have a trusted agent give you a comparative market analysis specific to your home so you can get a better idea of where you need to be priced in order to sell. Good Luck!
Stacey McCarthy is a real estate agent with the McCarthy Group of Keller Williams. Her Real NEastate column appears every Wednesday on NEastPhilly.com. See others here. Read other NEast Philly columns here.
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