This week in the Fairhill market, sales rose to six homes sold over the last 30 days, even with a solid downward trend in price reductions, with 10 in the same time frame. The median sales price jumped to $30,500, up from last week's $25,000. Even after the uptick in sales, an elevated 10 months of inventory tells us that Fairhill is still a definite buyer's market.
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Fairhill is a neighborhood in Philadelphia. It's much less affluent than average and the cost of living is much less expensive compared to the rest of the city, with a median income of $16,914 per household and cost of living adjustment score of 91.8. Homes in Fairhill are older than most with a median age of 73 years. Heading the list of top schools in the neighborhood is Kipp Academy Charter School.
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Sales fell to five homes sold in the Fairhill market over the last 30 days. Furthermore, a recent downturn in the number of pending transactions continued, with nine completed in the same period. All indications show that the trend may be coming to an end, meaning more pending transactions over the next few weeks. Prices are rising in Fairhill, and the median sales price this period increased from $22,000 to $25,000. Fairhill is a solid buyer's market with 12 months of inventory to choose from, aided by the downturn in contracts.
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The Fairhill market looked solid this week as sales shot up 50.0% to reach six homes sold over the last 30 days, breaking above the average sales volume for the prior 12 months. At the same time, the Richmond neighborhood reported 51 home sales, the highest number from all of the surrounding neighborhoods. A months of inventory number of 11 reported this week continued a four-week upward trend. Even after uptick in sales, such a large amount of remaining inventory tells us that Fairhill is still a strong buyer's market.
Comments:

$235K  
This week in the Fairhill market, sales ticked up to four homes sold over the last 30 days, even with a confirmed downward trend in price reductions, with four in the same time frame. The median sales price climbed to $29,500 over the latest reporting period for Fairhill, up from $25,000. Fairhill is still a strong buyer's market, due to the availability of 16 months of remaining inventory, even after the uptick in sales.
Comments:

$235K  
There were two homes sold in the Fairhill market over the last 30 days, while six contracts were executed. This marks the lowest amount since August, and could be a sign that the market is softening. When comparing other close-by neighborhoods within the same period, the most came from the Fishtown neighborhood with 62 contracts executed. The median sales price jumped to $26,500 over the latest reporting period for Fairhill, up from $18,000. With a downward trend in contracts numbers and 33 months of inventory still left to work through, Fairhill is a definite buyer's market.
Comments:

$235K  
The Fairhill market is heading toward a higher price point.While sales came in at three homes sold over the last 30 days, price reductions are at their lowest number since April, with eight reported this week. In comparison, the Kensington neighborhood had 87 price reductions in the same time frame, the most of all close-by neighborhoods. Pricing in Fairhill remains consistent from last week to this week, with the median sales price at $17,000 again. Fairhill is still a strong buyer's market, even after the decrease in price reductions, due to the large 21 months of inventory left.
Comments:

$235K  
With 17,302 residents, Fairhill is a larger than average neighborhood in Philadelphia. Also, with 26,620.6 people per square mile, it has a higher than average density in comparison to other parts of the city. Keep in mind, 40.8% of the homes in Fairhill are owned, while 46.4% are rented. Heading the list of top schools in the neighborhood is Kipp Academy Charter School.
Comments:

$235K  
The Fairhill market saw sales remain flat this week with three homes sold over the last 30 days, while new listings spiked to 15. The median sales price in Fairhill stayed put this week at $17,000. With no movement in sales and the availability of 23 months of inventory, Fairhill is a definite buyer's market.
Comments:

$235K  
The Fairhill market remained sluggish this week as sales fell 40.0% to land at three homes sold over the last 30 days. On the other hand, the close-by Fishtown neighborhood registered 48 homes sold in those same 30 days, the most of all surrounding neighborhoods. The median sales price dropped dramatically to $17,000 over the latest reporting period for Fairhill, down from $30,000. Along with the slip in sales, a relatively high 20 months of inventory indicates that Fairhill is a solid buyer's market.
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