Philadelphia Real Estate Market Continues To Expand In Specific Key Neighborhoods

Philadelphia is experiencing a real estate market boom in specific key neighborhoods including Brewerytown, Point Breeze, and Port Richmond

Philadelphia, United States – November 16, 2016 /MarketersMedia/ —

The Philadelphia real estate market has rebounded very strong from the recession only a few short years ago, and now there is rapid, exponential growth in specific key neighborhoods around the city including Brewerytown, Point Breeze, and Port Richmond to name a few. The cities rapid economic expansion comes at a time when it is greatly needed, and now is an amazing opportunity for investors, agents, and home buyers alike to get their feet wet in this market and purchase up as much inventory as possible over the next couple of years. Experts agree that the Philadelphia real estate market is likely going to see continued rapid expansion in these key neighborhoods all throughout 2017 and 18, and the trend will likely rise steadily from there for several years.

Philadelphia home values have spiked back to levels that weren’t around since the housing bubble burst back in 2008, so it will be exciting to see how things progress from here as home values continue to soar. Prices in University City rose the most, up 15% from the previous quarter! This is a huge jump, but also some other areas saw major growth as well including West Philly and North Philly. Experts are saying that now is an excellent time for first time home buyers to purchase a home, but it’s also a great time for sellers to auction off their inventory, as they can get extremely high prices and the inventory is moving very fast. Millennials are also flocking to the city of brotherly love in droves, as Philly has the 32nd highest population of young people in the entire country.

Philadelphia county had the highest number of residential transactions in the first quarter of 2016 with 8,311, a 14.2 percent increase compared to 7,277 homes sold the same time last year. Also, the popularity of the real estate market in Fishtown is starting to spill over into Kensington and make that an extremely desirable place to live. Since last year, the average house price in the Kensington/Frankford area has appreciated 9.5 percent, according to Drexel’s Lindy Institute. This average housing price hike will likely lead to even less inventory on the market, so sellers will be able to get much higher pricing for their homes, with the increase in demand. Overall, these numbers are looking very optimistic, and most real estate experts in the area agree that Philadelphia is on the cusp of another real estate boom, and now is definitely the time for buyers, agents, we buy houses Philly Investors, and brokers to stake their claims and get in on the ground floor of what is shaping up to become the full on recovery of the Philadelphia real estate market since the burst of the housing bubble back in 2008.

For more information, please visit http://www.rapidhomeliquidation.com

Contact Info:
Name: Brian Rudderow
Organization: Rapid Home Liquidation
Address: 7201 Keystone St. Philadelphia PA 19135
Phone: 2158829828

Source: http://marketersmedia.com/philadelphia-real-estate-market-continues-to-expand-in-specific-key-neighborhoods/146851

Release ID: 146851