When looking at the year-to-month (using the most recently completed month of January) actual statistics by year for Philadelphia County (City of Philadelphia), the results by year, for residential homes on the market, sold, average price and days for sale before close is charted as follows:

This shows some interesting trends in the still high number of units going on sale (listed), despite the decreased demand, which eventually begins to push down the price and extend the average days on market, although at this point in time the average sold price is still increasing.

The current Philadelphia County inventory is 9372, with an average monthly Sold of 1195, yielding a backlog of 5 months to sell off the inventory at current rates of sale.

Copyright 2008 by Lawrence Yerkes. All Rights Reserved.