Philadelphia Market Update, March 2021

[Yuriy Skripnichenko]

Hi all,

New report from Bright.

- Signs point to a spring market that will rival last year’s post-lockdown pent-up demand.
- The 1Q21 median sales price $275.0K, up by $30K (+12.2%) from 1Q20.
- First quarter sales in the Philadelphia Metro totaled 17,937, up +13.1%. More than 2K additional sales took place compared to last year.
- Townhome median sales prices in March hit a ten-year high of $245.0K.
- In March, the increasing demand for townhomes pushed pending sales in the category to an all-time high (3,714).
- Philadelphia County marked its best result on record for townhome sale prices ($250.0K).

Cheers, 

Yuriy