Sales rose to six homes sold in the Fairhill market over the last 30 days. However, a recent downturn in the amount of pending transactions continued, with eight 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. Perhaps due to the contracts numbers, months of inventory is on a four-week upswing, this week hitting nine months. Despite the uptick in sales, the large amount of remaining inventory indicates that Fairhill is still a strong buyer's market.
Comments:

Over the last 30 days, the Fairhill market improved with four homes sold. Within the same time frame, the Kensington neighborhood had 41 sales, the most of all neighborhoods in the area. The median sales price jumped to $23,000 over the latest reporting period for Fairhill, up from $15,000. Fairhill is still a definite buyer's market, due to the availability of 14 months of remaining inventory, even after the uptick in sales.
Comments:

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. With a median age of 73 years, homes in Fairhill tend to be older than most. Heading the list of top schools in the neighborhood is Kipp Academy Charter School.
Comments:

Sales in the Fairhill market hit their lowest level since November. For the prior 30-day period, there were three homes sold, a decrease of 25.0%. The market has been in a downward trend for three weeks. In comparison, Kensington county led all other close-by neighborhoods with 36 sales. Prices are falling in Fairhill, and this period the median price of all sales fell from $23,250 to $15,000. A downturn in sales, coupled with the availability of 18 months of inventory, prove that Fairhill is a definite buyer's market.
Comments:

The Fairhill market remained cold this week as sales dropped 25.0% to land at three homes sold over the last 30 days. On the other hand, the close-by Kensington neighborhood registered 45 homes sold in those same 30 days, the most of all surrounding neighborhoods. Potential buyers should note that prices are coming down in Fairhill, and for this period the median sales price slid from $27,500 to $15,000. Fairhill is a definite buyer's market, thanks to a big 17 months of inventory to choose from and a pullback in sales.
Comments:

Fewer sellers put their homes up for sale in the Fairhill market over the last 30 days and the number of new listings fell this week to nine. Home sales remained unchanged from the prior period and once again four homes were sold. The median sales price remained unchanged over the latest reporting period for Fairhill, coming in at $27,500. With no movement in sales and the availability of 13 months of inventory, Fairhill is a strong buyer's market.
Comments:

The Fairhill market recorded four home sales over the last 30 days. Also, a record low 12 new listings came into the market, the fewest since October. In comparison, the Kensington neighborhood had 54 new listings in the same time frame, the most of all close-by neighborhoods. The median sales price dropped to $27,500 over the latest reporting period for Fairhill, down from $32,500. Despite the decrease in new listings, there are still 14 months of inventory left, meaning that Fairhill is still a strong buyer's market.
Comments:

This week in the Fairhill market, sales fell to seven homes sold over the last 30 days, even as it endures a confirmed upward trend in price reductions, with 13 reported in the same time frame. While price reduction numbers were strong, the median sales price of homes sold came in at $32,500, which extended a price upswing to four weeks. With decreasing sales and the availability of eight months of inventory, Fairhill is a strong buyer's market.
Comments:

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:

The Fairhill market has established an emerging upward trend, even as sales fell 11.1% this week to eight homes over the last 30 days. All indications show that the trend may be coming to an end, meaning less sales over the next few weeks. At the same time that sales trended up, the average selling price also hit a milestone at $34,250, a three-month high. With decreasing sales and the availability of eight months of inventory, Fairhill is a definite buyer's market.
Comments:
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