Now that real estate market’s August slow-down has come and gone, it’s time to check in on how home prices are stacking up in more than a dozen neighborhoods throughout Philly.
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’ via price range per square foot gives a full picture of each neighborhood.
At the beginning of September, the overall price range for the 16 Philly neighborhoods covered in this analysis was $106 to $1,680 per square foot. Of these neighborhoods, Manayunk came out as the most affordable.
"At one end of this price range is the lowest-priced market-rate unit in Manayunk,” said Valhouli. “At the other is the most expensive condo in Rittenhouse Square."
The ritziest Rittenhouse Square condo based on price per square foot is this penthouse at 1706 Rittenhouse. It’s listed at $7 million and clocks in at 4,166 square feet, coming out to $1,680 per square feet.
To see more in depth information about the analyzed Philly neighborhoods, check out the graph below. Hover over any data bar to learn more about the break down of averages.
It should be noted that some neighborhoods are not included on this list for a variety of reasons, says Valhouli. Kensington, for example, was kept off this month’s analysis because many of the properties for sale on MLS are actually listed in different neighborhoods, such as Port Richmond, Olde Richmond, Juniata, and Frankford. In addition, some properties like foreclosures or development sales can skew price ranges.