Fishtown 2016 Real Estate Summary
Fishtown Real Estate Market summary 2016
The demand for residential real estate in Fishtown continued to be strong in 2016. See statistics and relevant graphs at the following link:
Sales Breakdown by Property Type
Sales breakdown by Property Category
Condominiums (usually unit/flat): 89
Properties with Homeowner's Association (usually townhouses): 57
Other (usually singles and twins): 563
New Construction (could be of any type): 209
At the time of this post, there are 164 properties for sale in Fishtown, slightly less than 3 months supply given that approximately 59 properties sold per month in 2016. A market with less than 6 month's inventory is considered to be a seller's market. This is further confirmed by an increase in the average price of homes sold of almost 6%. The increase of more than 6% in the number of homes listed in 2016 was not sufficient to meet the demand for properties. This is a common refrain in the Philadelphia area and indeed in the entire country.
A whopping 30% of sales were new construction, 65% of these being townhouses, 30% unit/flats and the balance split between single/detached and twins.