The Philadelphia housing market was extremely sought-after for quite a while. It was known for being a sizzling seller’s market with cutthroat bidding wars and it reached its peak in the early spring of 2019. Since then, however, things have cooled down a bit, giving way to a better buyer’s market with more room for negotiations.
If you’re interested in buying property in Philly, market conditions are becoming increasingly advantageous, and your prospects are good. The median market value of single-family homes in Philly was $223,000 in May. This price point buys you a strategic location, newer on-site amenities, and a house that likely comes with a garage, private lot, or both.
Take a look at three excellent bargains currently available on the Philadelphia real estate market for a rounded $230K:
#1 8109 Lister Street, Philadelphia, 3 bedrooms, 1.5 bathrooms, $229,000
Situated in the north-eastern part of the city, first up we have this fabulous piece of Lexington real estate. The stone-front home lies in a highly sought-after neighborhood, boasting easy access to all necessary amenities a family with children would ever need.
Located on a substantial private lot with a meticulously maintained front yard dotted by mature trees and a generous driveway, the home enjoys plenty of privacy. The 1,025 square foot house features 3 spacious bedrooms, 1.5 baths, a modern kitchen, a generous living and dining area, and a fully finished lower level offering a family room and a wet bar. The entire property has seen its fair share of renovations as of late, including newer windows, modern appliances, new light fixtures, as well as other upgrades.
#2 7016 Cottage Street, Philadelphia, 3 bedrooms, 2 bathrooms, $229,900
Next on our list is this completely remodeled single family home in the Tacony real estate market in Northeastern Philadelphia. The 1,440 square foot two level house comes with 3 bedrooms and 2 washrooms.
The enclosed, sun-drenched anteroom is tastefully accented with tile flooring and leads you into the main living area. The open-concept main level features a spacious living room, a charming dining nook, and a fully equipped, modern kitchen that comes with brand new cabinets, counters, backsplash, and stainless steel appliances. Both bathrooms have been fully renovated while the bedrooms all come with ceiling fans and new carpets.
#3 1917 Lansing Street, Philadelphia, 3 bedrooms, 2 bathrooms, $230,000
Last but not least, we have this well cared for 1,536 square foot home located in the extremely popular Rhawnhurst real estate market. The property has a strategic location with proximity to schools, public transport, shopping, grocery stores, restaurants, and schools.
Thanks to its previous owners, the home is in mint condition and boasts 3 bedrooms and 2 baths on two levels. It features an upgraded kitchen, a welcoming dining area, a spacious living room, and a fully finished walk-out basement, which could be turned into a separate suite for in-laws or nannies. The gorgeous back yard patio, the access to the in-ground pool, and the detached 1-car garage are extremely rare features.
Since you’ve become familiar with what a median-priced single-family home has to offer in Philadelphia, would you be interested in buying property here? Or would you wait a bit more for the market to cool down and for prices to decrease even further?
Remember that there plenty more options to choose from, so feel free to check out more homes for sale near you if you’d like to stay in the vicinity of your current residence!