I am thinking of putting my house on the market in the FISHTOWN section of Phila, near Palmer Cemetery.

Asked by Home buyer, 19125 Thu Oct 18, 2007

I just looked at the Heat Maps for that area, and it seems that prices are too high. So, my question is-
what trends are you seeing for the Phila Market in general. Are prices stagnant and houses are on the market for a long time? Or are things getting better?

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Joe Michalski, , Philadelphia, PA
Fri Oct 19, 2007
I just inspected two homes that recently sold in Fishtown. One was a tiny two story row in need of a lot of help, and sold way below market (the buyer didn't share numbers). The second was a three story row, well preserved, in good conditon all around with a garage. This went for above market value. Neither was on the market very long.

Across Philly, as in may other areas, there is a vast supply on the market right now. I would suggest that it is pretty important to accurately assess the condition of the home and its systems, rate its location and features agasint other homes on the market, and set a price that will help you sell.

If the first home had been priced higher, the buyer would not have looked twice as he knows he needs to spend some significant money to make it what he wants. At the sam time, if the second home had been priced higher, the buyer may have opted for a different neighborhood with more restaurants, bars and features (like Fairmount), or perhaps considered one of the thousands of condos out there.....
Web Reference:  http://www.SherlockHI.com
1 vote
Courtney McN…, Agent, Philadelphia, PA
Tue May 28, 2013
Fishtown has not been a stagnant area since early 2002. It has held strong even through the Real Estate bubble. Because of the great location and ease to navigate the city from here and it's proximity to center city I believe Fishtown will always hold a great value in the real Estate market.
0 votes
Carl Caldas, Agent, Philadelphia, PA
Wed Sep 22, 2010
August stats for Fishtown: 17 Settled and 28 Pending. The majority of which are in the $50,000 to $250,000 price point. Roughly 50% of which are on the market 0 to 30 days! This is a healthy market.

Carl Caldas
0 votes
Jonathan Fink, Agent, Philadelphia, PA
Mon Sep 13, 2010
It depends on the house and the area. Fishtown is great if the home is priced properly. Give me a call. I live on Marlborough and work very hard for my clients. Thanks!
Web Reference:  http://www.jonfink.net
0 votes
Matthew Zesd…, , Philadelphia, PA
Fri Sep 12, 2008
When you look at the big picture, everything plays a big role in the marketing of your property. But, nothing is more importatnt than the price. That is why houses remain on the market for such a long time, or why they don't sell at all. The first few weeks of a property that is listed on the market are very crucial. So in short If your property is priced right it will sell quick. Thats why it is important for your agent to have a strong marketing plan and a good comparative market analysis (CMA).

Matthew Zesdorn
5267 Roosevelt Blvd.
Philadelphia, Pa. 19124
Business (215) 537-0200 ext. 1401
Cell (215) 833-6603
0 votes
Barry, , Philadelphia, PA
Wed Jun 4, 2008
I am a realtor from Coldwell Banker Realty Corp. in center city. I know this market well. The area of Fishtown to which you refer is one of the best. It is an established residential area that hit its apex probably around 2004 and has cooled since. Inventory in 2008 compared to 2004 is up considerably and this is the major challenge. It is really about correct pricing. An appropriately priced home in a balanced market shoud sell in about 45-60 days on average. In the last 6 months for homes priced between $100k-$450k in the 19125 zip, which includes Fishtown, the average days on market is 73, with May being the highest in the last 6 months at 84 days on the market. A look at recent sales of non-condo properties in the last 6 months shows that sellers are getting about $126/sf for resales. This is your basic non-new construction, non-condo unit. So you could reasonably expect to pay about $277,000 for a 2,200 sf home. Many of the old homes in Fishtown are very spacious. I hope this helps. Call me at 215.913.7029 if you would like assistance in listing your home or finding a new one. Thanks.
0 votes
Chris and St…, Agent, Philadelphia, PA
Fri Oct 19, 2007
Fishtown is a great neighborhood. Many people who are qualified to buy here in the riverside sections like N. Libs and Fishtown, are really gravitating to that specific area near the cemetary. Any way, the market is certainly saturated right now with overpriced properties. I'd say on average, most homes if they sell will sell at 80-90%% of their list price. That is good! A home listed for 200,000 will likely sell for 160,000- 180,000 after about 3 months on the market and a price reduction or two. The future of Fishtown and it's surrounding area looks great in our opinion. There have been many approved new sites for development and in a few years the market will pick up again. Hopefully this time at a more gradual pace compared to the last 2 1/2 years.

We have 2 Open Houses going on this Sunday in Fishtown 1-3. You shuld check it out for comparison purposes. 533 E Cabot Street (334,900) and 220 E Thompson Street. (299,900) .

The rest of our listing in Fishtown that are shells or need a little "love" so to speak, they sell with in 2-3 weeks if priced right. That says the investors certainly agree with me. The future of Fishtown is great.
0 votes
Edmund Choi, Agent, Paoli, PA
Fri Oct 19, 2007
Year-over-year, prices have appreciated about 5% and houses are on the market about 2 months before going under contract in your area.
Web Reference:  http://PhillyandBeyond.com
0 votes
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