Why Are We Excited About

Old Kensington?

 
 

Real estate has one constant truth: That nothing is constant! We expect an ebb and flow among property values, sales, and inventory. We typically see the largest fluctuation in property values every 7 - 10 years as homeowner needs change and the market responds. In today’s uncertain market, real estate is facing some difficulties, but this is the perfect time to look at which areas remain strong so we can best advise our clients. Old Kensington has been gentrifying for the past few years and is still developing. This momentum, along with the following statistics, are why Old Kensington is on our radar as one of Philadelphia’s top neighborhoods to consider buying or selling.

 
 
 

As sales dip due to COVID-19, Old Kensignton remains one of the leading neighborhoods for sales, surpassing March of 2019 by 100% as well as the 5 year average for the area by 117%. This is a great sign for buyers wanting to invest in a strong market. For sellers, inventory is moving quicker than ever, with the average days on market down 44% and pending deals up 19% over March of last year. As interest in the area grows, so does price! The 2020 year to date average sold price per square foot has increased by 13% over 2019, and we expect this growth to continue as Old Kensington continues to development. Buyers can still find amazing prices and expect property values to appreciate.

 

Available Listings in Old Kensington, Philadelphia, PA:

 
 

Curious what the current value of your home is?

The Venture Philly Group aims to provide the most accurate data to our clients. To get a current look at market statistics of your neighborhood, contact us today.


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