5 Things to Know About Philadelphia Real Estate

Posted by troyconf on 16/03/2017 in Philadelphia Real Estate

Moving to a new city can be tough, especially if you haven’t done your research. To avoid the stress and headache of figuring out a new town, it’s always best to look at average home prices, crime rates, and commute times well in advance. For those looking to move to the city of Philadelphia, here are a few things that you should know before uprooting your family.

Average Home Price

Finding a home without your budget is one of the first things to look into when moving to Philadelphia. The average home runs around $134,100 and has increased by 6.2 percent over the past year. It’s also likely that prices will continue to rise in the coming year, so be sure to keep that average in mind as a minimum when looking for a new home.

Best Neighborhoods for Families

The Upper Kensington district is a great neighborhood for families and contains mostly residential properties. With a relatively low average housing cost of $81,300, the area also has plenty of shopping, dining, and entertainment options that are perfect for all ages.

For those craving the urban lifestyle, Philadelphia has a lot of great walkable neighborhoods. There are also plenty of suburbs for those seeking a family-friendly neighborhood to call home.

With a large public park that includes running and biking trails, sports arenas, and picnic pavilions, Olney is another great choice for family living. The neighborhood also has a diverse ethnic population, a business district, and has a low $81,300 average housing price as well.

Buyer Versus Sellers Market

The city of Philadelphia has been a buyers market until recent years as average home prices have started to climb. Since there aren’t as many properties to choose from, listed homes are quickly taken off the market and bought at steep prices from buyers willing to make a sale. If you’re a first-time homebuyer, make sure to start looking at listings as soon as possible and keep in mind that each property you look at might not be listed for very long.

City Homicide Rates

The Philadelphia Police Department reports that the number of homicides seems to be on the rise this year with over 48 homicide cases, which is a 37 percent increase. And while the city has a high crime rate compared to the rest of Pennsylvania, its statistics are lower than average when matched against cities in the United States with the same population size.

If you’re considering living in Philadelphia, be aware that home prices are on the rise! What was once a buyers’ market is turning hot fast!

If you’re considering living in Philadelphia, be aware that home prices are on the rise! What was once a buyers’ market is turning hot fast!

Average Commute Times

Philadelphia is a business hotspot that attracts thousands of commuters from around the area. With over 253,000 people who travel into the city for work and 147,000 residents that commute away from the city for their jobs, the roads can become easily congested. Due to several people traveling to and from the city, the average commute one way is around 32-minutes. Traveling from one neighborhood to the center of Philadelphia can range from a mere 17-minutes to 45-minutes if living near Brewerytown. Rush hour typically lasts from 6am-9:30 am in the morning and 4pm-6:30 pm after working hours, with the worst traffic usually occurring on major highways such as I-676, I-95, and I-76.

If you’re ready to take the plunge and move to Philadelphia, give the folks at Cheap Movers Philadelphia (website | Google+ | Facebook) a call. This local Philly mover can help you score discounted rates on moving services to Philadelphia, even if you’re moving here from out of state. Have a less stressful moving experience and save money on your move!


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