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:

Fishtown Real Estate Statistics 2016

Sales Breakdown by Property Type

Single/detached: 15
Twins/semi-detached: 30
Townhouses: 584
Unit/Flat: 75
Mobile Homes:

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.