Month: February 2013

Gorgeous New Packer Park Listing! 3226 S Sydenham St

/ Jim Onesti, Realtor, Development Expert / Leave a comment

3226 SydenhamThis is an amazing new 3 bed/2.5 bath Brinton Estates home with oversized deck, large rear yard, spacious bedrooms and 2 CAR PARKING!! Priced at $414,000.

Gorgeous custom kitchen has granite counters, granite backsplash and high end stainless steel appliances.

Master bath is luxurious with granite counter, seamless glass stall shower and beautiful glass tile accents.

Oversized Epay brazilain wood deck is ultra modern with wire rope and stainless steel railings.

Garage has been converted into a den/mudroom but could easily be converted back.

Home also has an attic with 7 foot ceilings. New Pella & Anderson windows throughout, hardwood floors and an extra family room make this home complete!

With over 1950 square feet and sitting on a 20′ x 77′ lot, this is a magnificent Packer Park home in a wonderful location close to FDR Park, the Stadium District, Broad Street and so much more!
For more information contact Jim Onesti, Prudential Fox & Roach REALTORS. 215-627-6005 or 215-440-2052 or jonesti@mccannteam.com

Packer Park Cul-de-sac VS. Packer Park “Main Street” PART 2

/ Jim Onesti, Realtor, Development Expert / Leave a comment

1pp  Our February 1st Blog titled, “Packer Park Cul-de-sac VS. Packer Park “Main Street”,   discussed which type of Packer Park Homes sell for more and are more desirable, homes located on a Packer Park Cul-de-sac or main street homes in Packer Park, we wanted to try to dissect the findings of our research a little further…..

As a reminder the results of our data crunching were as follows:

*Since there are many more main street homes than cul-de-sac homes in Packer Park, the number of main street sales was more than double the number of cul-de-sac home sales over the two year period examined in our evaluation.

*SALE PRICE: The average sale price for the cul-de-sac homes was $336,000. The average sale price for the main street homes was $320,000. (close to a 5% difference)

*PRICE PER SQUARE FOOT: The average price per square foot for the cul-de-sac homes was $291 per sq’. The average price per square foot for the main street homes was $277 per sq’.

*DAYS ON MARKET: Average days on market for the cul-de-sac homes was 222. Average days on market for the main street homes was 82. A HUGE difference!!!

But WHY???

We feel the main factor creating these numbers is Supply and Demand. Many of us often disregard how important this simple economic law is. Supply and demand although a simple theory is amazingly important… Supply and demand is the key indicator in todays Real Estate market in my opinion. Center City Philadelphia and the surrounding neighborhoods are experiencing price appreciation and an increased pace of sales because the inventory of homes for sale is almost 20% less than this time last year and is actually at its lowest point since 2006!!!!

Think of it this way…how many buyers are there in our market place right now? Thousands and Thousands…. if there were only two homes for sale in the city, how much would those homes sell for with a thousand buyers fighting over them??? the answer is ALOT!! That is supply and demand…

One of the main factors why Cul-de-sac homes have sold for 5% more than main Street homes and have a price per square foot much higher than the Main street homes is supply and demand… There are always 200-300% more main street homes for sale at any given time then Cul-de-sac homes in Packer Park.

There are other reasons as well but none as Obvious as this.

Currently there are only 9  homes for sale in Packer Park between 250k and 400k..!! If you are looking to sell now may be the time! If you are looking to buy, don’t waste anymore time!!

Cul-De-Sac VS. Main Street, Which type home sells for more in Packer Park?

/ Jim Onesti, Realtor, Development Expert / Leave a comment

3135 Olympia For years my colleagues and I have argued over which is more valuable, desirable and in more demand…. Packer Park homes located on one of its historic and scenic Cul-de-sac’s or a Packer Park home that sits on a wide and bright main street in the neighborhood like 17th or 18th….?  They both have their advantages….

We have done our research and compiled data to settle the age old packer park debate.. Cul-de-sac or main streets in Packer Park….

Here is how we arrived at the conclusion. We evaluated every 2-story Packer Park home that has sold and settled in the last 2 years- located east of 20th street. We did not include fixer uppers, only above average condition to excellent condition homes.

All of the homes had private parking or the ability to make their yard a parking spot. All of the homes had central air and all but one of the homes was 1152 square feet.

The results are as follows:

Since there are many more main street homes than cul-de-sac homes in Packer Park, the number of main street sales was more than double the number of cul-de-sac home sales over the two year period examined in our evaluation.

SALE PRICE: The average sale price for the cul-de-sac homes was $336,000. The average sale price for the main street homes was $320,000. (close to a 5% difference)

PRICE PER SQUARE FOOT: The average price per square foot for the cul-de-sac homes was $291 per sq’. The average price per square foot for the main street homes was $277 per sq’.

DAYS ON MARKET: Average days on market for the cul-de-sac homes was 222. Average days on market for the main street homes was 82. A HUGE difference!!!

What do these numbers mean??? Stay tuned for our follow up Blog Post on this topic…Jim Onesti Prudential Fox & Roach Realtors 215-440-2052

KateDevlin2013_1914_Geary_JO-4