Art Museum Home Sales 2016

Art Museum  Property Sales 2016

The number of homes sold in the Art Museum neighborhood in Philadelphia decreased by approximately 16% in 2016 from 2015. There was a similarly sized drop in the number of properties offered for sale. See statistics, relevant graphs and further analysis below.

Art Museum Philadelphia Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 2
Twins/semi-detached: 3
Townhouses: 158
Unit/Flat: 114
Mobile Homes: 0

Sales breakdown by Property Category

Condominiums (usually unit/flat): 124
Properties with Homeowner's Association (usually townhouses): 16
Other (usually singles and twins): 137
New Construction (could be of any type): 3

There are currently 56 properties for sale in Art Museum area of Philadelphia, less than 3 months supply, as 23 properties sold per month in 2016. A market with less than 6 month's inventory is considered to be a seller's market. The average price paid for a home in the Art Museum area rose over 12% to $398k. Part of this rise was caused by a 12% reduction in the number of properties offered for sale. Townhouses continue as the dominant property type in the Art Museum area with unit/flats a fairly close second. New construction in the neighborhood was low in 2016 at 1% of properties sold.

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