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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 Range4/2012 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 hereRead other NEast Philly columns here.

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