Compass Q3 Market Report
The third quarter of 2021 has officially concluded, meaning The Barach Group has wrapped up yet another successful season! The real estate market was very strong throughout the city of Philadelphia over the past few months, as homes tended to sell significantly faster than this time last year. Thanks to our team’s comprehensive knowledge of the city, we were able to point our valued clients to the homes of their dreams, keeping in mind their unique wants and needs, and the neighborhood that suits them best. While we help clients in all neighborhoods across Philadelphia, below we’ve highlighted the market in a few of the city’s most popular areas. Read on for an update on Q3 in the wonderful neighborhoods of Fishtown, Northern Liberties, and Graduate Hospital.
Fishtown sits North East of Center City with just under 50,000 residents. Boasting a young, creative, and vibrant culture; Fishtown has seen a large increase in property value over the years thanks to its wide variety of breweries, galleries, restaurants, and concert halls. Fishtown ended the third quarter with 108 property sales and an average of 33 days listed on the market. The average sales price was $427k.
Graduate Hospital is a clean and lively neighborhood, perfectly located just a short walk south of Rittenhouse Square. As quarter three concluded, Graduate Hospital ended with 103 properties sold, $612k average sales price per home, and an average of 22 days on market. Equipped with the west end of South Street, Grad Hospital provides its 45,000 locals with a plethora of cafes, eateries, and boutiques.
Northern Liberties is nestled between Girard and Spring Garden, enjoying breathtaking waterfront views of the Delaware River. Over the past year it has seen a sizable increase in sales due to its convenient accessibility to Old City, major shopping, and luxurious dining. At the wrap of Q3 there were 63 properties sold in Northern Liberties at an average price of $626k. 44 days on market was the average.
As many return to their normal routines with the autumn season in full swing and winter on the horizon, we are energized and driven to help our clients meet all of their real estate goals. With the end of the year just a few months away, we are motivated to finish the year stronger than ever.
Looking to learn more about the current state of the real estate market in your Center City or Suburban Philadelphia neighborhood? Click here for the full market report or contact our team today.