Is Center City, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Center City was a Seller's Market.
Key Takeaway
Center City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Center City, PA
How much do homes in Center City, PA cost?
Median Sold Price
$465,000
$404/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Center City have sold for 10.1% less than they did a year ago.
Summary: The median home sold price in Center City was $465,000 in May 2024, down 10.1% from last year, and the median price per square foot was $404.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $285K | -1.7% |
| 2 Bedrooms | $520K | $499K | -4.0% |
| 3 Bedrooms | $850K | $853K | 0.4% |
| 4 Bedrooms | $1.3M | $1.3M | -1.1% |
| 5+ Bedrooms | $1.4M | $2.0M | +42.9% |
Summary: Center City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 42.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Washington Square West | $492.5K | $467.5K | -5.1% |
| Center City | $516.9K | $465K | -10.1% |
Housing Supply in Center City, PA
How many homes are available in Center City, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 660 | 686 | +3.9% |
Summary: The Center City real estate market had 686 homes for sale in May 2024, a 3.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 208 | 212 | +1.9% |
| 2 Bedrooms | 227 | 238 | +4.8% |
| 3 Bedrooms | 118 | 121 | +2.5% |
| 4 Bedrooms | 74 | 80 | +8.1% |
| 5+ Bedrooms | 33 | 35 | +6.1% |
Summary: The Center City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.9%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 67 | -16.3% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Center City, you may be able to get a good deal. 67.2% of homes here sold below asking price last month.
Summary: A total of 67 homes were sold or pending in Center City in May 2024, down by 16.3% month-over-month. Of the 67 sold homes, 67% were sold under asking, 21% were sold at asking, and 12% were sold over asking.
Days on Market for Center City, PA
How long does it take to sell a home in Center City, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 82 Days | 48 Days | -41.6% |
Summary: Homes in Center City had an average of 48 days on market in May 2024, down by 41.6% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Center City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 67 homes were sold in Center City; 63% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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