Darby Pennsylvania (Zip 19023) Market Analysis

[Kevin Uzelac]

An agent at my brokerage recently sold two off-market single family homes in Darby Pennsylvania as a package deal for $160k ($80k each). One of the properties is rented month to month by a long term tenant at $825/mo and the other at $875/mo. Rentals in similar condition in the area are getting as high as $1350/mo! We also found comps on the MLS going for as much as $130k.

This pocket has always been a good rental pocket but now we're seeing ARV's getting to the point where fix and flips are certainly possible. Being able to flip in this area now just show's the high levels of appreciation thats been occurring in recent years.

According to the MLS 19023 home prices were up 27.4% in August of 2021 compared to last year, selling for a median price of $131K. On average, homes in 19023 sell after 39 days on the market compared to 45 days last year. There were 26 homes sold in August this year, up from 19 last year.