Market Conditions for Germantown in Philadelphia, Pennsylvania Reported by Loretta C. Witt, REALTOR, CRS, GRI, Associate Broker Updated September 16, 2009.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

This is such an eclectic neighborhood that it is difficult to put one's finger on one thing that is happening in real estate. There are some blocks of Germantown that continually do well, while others do not. Here are some statistics from the 2nd quarter of 2009, the last quarter for which the local multiple listing service has records:
The average selling price was $112,000, down 1.32% from the 2nd quarter in 2008.
53 houses sold, a 14.52% decrease from 2008.
In the 2nd quarter, it took an average of 59 days to sell a residential property, and sellers received on average 96.6% of their asking price.
It is hoped that the traditional busy September real estate market will take place again in 2009.

ZIP Code: 19144

Location Characteristics: Germantown is an historic neighborhood founded in 1683 by immigrants from Crefeld in Germany who were given a land grant by William Penn and came to this country looking for economic opportunity. Soon after they were joined by Quakers looking for religious liberty. Two groups created a community that has always been noted for tolerance and cutting edge politics. It has also been a community offering some of the most beautiful housing stock in the city of Philadelphia. 19144 is a very large area that comprises all economic levels from very poor to very wealthy. Public transportation is excellent, and the neighborhood is bordered on the west by the Wissahickon Creek and park and on the east by Awbury Arboretum.

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