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2024

Market Insights

City Of Philadelphia

Latest Issue — Q4 2023 Report

A Message From Our CEO

"Real Estate is Ready…for a New Year!"

The real estate market in 2023 was difficult, to say the least. Nationwide, the number of sales in 2023 decreased 18% over 2022. This was on top of the previous year’s sales, which also declined by 18%. Can we expect more of the same in 2024? Yes and no. It all hinges on the forecast that interest rates will continue to decline. And most economists agree this will be the case. Find out what all of this means for the City of Philadelphia real estate market in this latest edition of Market Insights.

Larry Flick V

Chief Executive Officer

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– By The Numbers –
Q3 2022 compared to Q3 2021

+5.2%
Home Sales
Even
Number of Houses for Sale
-2.75%
Pending Sales
+3.2%
Average Sale Price