Now that Philly’s 2017 real estate market has passed the six-month mark—while hitting a record-low inventory—we thought it would be helpful to see how home prices are stacking up in more than a dozen neighborhoods throughout the city as the market prepares for an end-of-summer cool-down.
Real estate research site NeighborhoodX put all of the data together, measuring the average neighborhood home prices by price per square foot. Constantine Valhouli, NeighborhoodX’s director of research, says looking at properties’ average asking price and price range per square foot gives a full picture of each neighborhood.
Says Valhouli, "The average price is a good starting point, but the price range can offer more insight."
The overall price range for properties located in these 17 neighborhoods is $71 per square foot to $1,680 per square foot. So where can you get the best bang for buck right now? Kensington, which has been pegged numerous times as the next Fishtown. Meanwhile, it may not come as a surprise that Rittenhouse Square and Society Hill remain the priciest neighborhoods this month, respectively.
These numbers are based on currently listed, market rate properties in 17 Philly neighborhoods. Don’t see yours on the list? Let us know in the comments if you want it included next time around.