Just Sold! Another Geary Estates Home Settles! 1900 Geary Settles at $545,000

Just settled – 1900 Geary St – $545,000.

Congrats to the new owners! Be sure to introduce yourself to your wonderful new neighbors!! And if you haven’t seen these 3000 square foot New Construction Gem’s in Packer Park, South Philadelphia, please stop by, our model home will be ready by May 5th and it is amazing!!!!

Remaining homes are starting at $499,900 and come with 10 Year Tax Abatements, Roof decks, rear yards, 3 nor 4 bedrooms, hardwood floors throughout, amazing kitchens with granite counters and luxury stainless steel appliance packages and so much more!!

Jim Onesti, McCann Team, Prudential Fox and Roach Realtors

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For more info contact Jim Onesti 215.440.2052 or jonesti@mccannteam.com

Packer Park Court, a 77-unit apartment building, is SOLD!!!!!!!!!!!!! 1859 Hartranft Street

Packer Park Court, a 77-unit garden-style apartment community located on Hartranft Street in Packer Park has SOLD…Yep it’s official…. the asking price was $10,000,000…. the final sale price is not public information yet but our sources tell us it sold for very close to $8,500,000…

Packer Park Court is a rare building in the Packer Park area, which is dominated by single family homes, as we all know…

PPC’s location in this highly-desirable, safe and convenient Packer Park neighborhood of Philadelphia helped it command such a staggering sale price. The neighborhood is a family-oriented and pedestrian-friendly area filled to the brim with high-quality residential development.packer park court

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

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!!