Old Kensington Market Statistics January 2008 through October 2008 - The Somers Team

19122 makes up Old Kensington and Yorktown - Market Statistics

Contact Chris and Stephanie Somers at thesomersteam@yahoo.com for more information and market statisitcs and trends regarding Old Kensington and the Old Kensington / Yorktown real estate market.

From January 2008 though October 2008, there were 269 units listed, of which 65 went pending and 57 sold.

The average listing price was $204,300 and the average days on market is 78.

For the properties that have sold in Old Kensington, the average listing price was $154,176 and the average sold price was $132,656.

The current inventory is 147 properties. With the average being 5.7 properties selling per month, there are 25 months of inventory on the market.

Outlook: A lot of inventory remains on the market in Old Kensington (147 properties). A high percentage of the inventory is new construction, both houses and condominiums as well as high end rehabs. The area confuses a lot of investors as well as its consumers due to it's immediate vincinty to Northern Liberties. Since the sales are much higher in Northern Liberties there is speculation and belief that Old Kensington will play catch-up, thus the high level of development in the area. However, sellers did not foresee the market slowdown and in some cases, have over improved properties in the area which makes the short term uncertain. That being said, the longer term outlook is still excellent as the growth trend is still well intact. This is one of our favourite spots for investment in all of Philadelphia.

If you would like a free market evaluation of your home or are interested in purchasing in Old Kensington, contact Chris or Stephanie Somers at RE/MAX Affiliates at 215-400-2612 or email thesomersteam@yahoo.com. Also, view our Old Kensington listings. Look up 1000s of listings on our website as well as learning more about us. Also, please visit our blog !

Chris and Stephanie Somers Philadelphia Real Estate Philadelphia Real Estate Blog

click here to receive our blog updates via email !