When looking at the year-to-month actual statistics (using the most recently completed month of March vs. January) for Philadelphia County, the results for residential homes on the market, sold, average price and days for sale before close is charted as follows:
Yr Ending | Units Listed | Units Sold | % Sold | Sold Avg. | Avg. |
| 03/2008 | 33668 | 14902 | 44 | $187,302 | 65 |
01/2008 | 34270 | 15498 | 45 | $186,359 | 71 |
See previous article for prior year 01/200X year-to-date comparison.
This shows that the overall trend is mixed and approaching a bottom -- in some categories showing some improvement so that eventually it will be tending back upward.
The current Philadelphia County inventory is 9657, with an average monthly Sold of 1149, yielding a backlog of 8 months to sell off the inventory at current rates of sale.
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
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