See below for my second installment of Philadelphia Real Estate Investment Market statistics. While two weeks of data is certainly not enough to start analyzing trends, there are a few interesting observations to be made in these numbers. First it's clear from the variation from week 1 to week 2 that with such small sample sizes just a couple of new sales or listings can greatly affect these numbers. Also clear, and supported by my experience on the ground, is that smaller properties are selling quickly if they are priced right and larger properties are taking much longer to transact. Notice how the average Days on Market for shells that are selling is 37 days compared to 71 days for 2-4 unit properties and 293 days for larger multifamily properties. This stat should tell you that if you're looking for investments with quick turnaround potential the lower-end of the market is the place to play.
Starting next week I'll be posting graphs of the key stats along with the numbers. Once I have compiled several months worth of data we may actually be able to see some real trends.
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