Real NEastate: Where can I find a bargain in the Far Northeast? [comparison chart]

Q: I am prequalified to buy a home for $150,000. This is a good amount of money if I want to live in Mayfair or Rhawnhurst, but I’d really like to live closer to my mother who lives in Somerton. Which neighborhood in the Far Northeast will I be most likely to find a bargain?

A: Currently there are only 11 homes on the market in the Far Northeast in your price range, so it won’t be too much trouble to check them all out and see which one is a fit for you. Homes under $150,000 in this area will usually be either fixer-uppers or distressed sales.

The zip code with the most homes for sale in your price range is 19154. Even though it has an average sale price of around $180,000, there are a few “bargains” to be had right now if you want to put a little elbow grease into a house.

A quick market analysis shows that the 19114 zip code looks like it may be where you might find the most bang for your buck. You can find a couple homes in this area for your price range.

 

Area

Avg Listing Price

Avg Sales Price

19154

$183,021

$179,648

19116

$228,754

$197,478

19115

$262,425

$198,161

19114

$190,584

$156,451

Pennsylvania

$229,073

$201,974

United States

$289,476

$241,547

 

If you are looking for a property that is in an area with a high resale price, take a look across the boulevard in 19115 and 19116. This could be true because there is a higher concentration of twins and singles in these areas although there are very few properties for sale in your price range.

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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