Property prices for sale in Philadelphia (Pennsylvania)
The prices in real estate in Philadelphia, in the Pennsylvania region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Philadelphia has increased strongly during the last 6 months. In March, the average price per sq.feet was $246. In the following month the price per sq.feet increased to $276. The price for the following two months in (May, June) had a considerable increment of 123 %. The price per sq.feet has decreased 87 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $291.25 to $253.5 during July, and August.
Based upon to the price in Philadelphia (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is $307,557. During April the price went through a considerable rise reaching $397,136. During the following two months (May, June) the average price had a considerable increase of 124 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $394,485.75 to $320,750.5, which means a 81 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of $295,217 they are 10 % more affordable than the average price for Philadelphia. The properties with the highest average price have 4 bedrooms, Their price is 31 % more costly than the average. After that we have properties with 1 bedroom priced at $300,118.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $206 / sq.feet, with an average $235 / sq.feet price in Philadelphia. The properties with the highest average prices have 1 bedroom. They are 51 % more expensive than the average followed by properties with 2 bedrooms with a price at $300 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $295,217 it is 33 % cheaper than the average price in Philadelphia. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of $349,654 it is 206 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $195 / sq.feet followed by "House" priced at $206 / sq.feet. "Land" is the most costly type of property with a $39,947 / sq.feet cost followed by "Condo" with an average price of $262 / sq.feet.
