May 29, 2019
Presenting the 1Q19 VERY Insight Report!
VERY Real Estate is proud to share our 1Q19 VERY Insight
report, a quarter-over-quarter report outlining the market trends
in the Center City Philadelphia residential real estate market for
our core neighborhoods, namely those areas located within the
geographical boundaries in which we operate: Girard to
Washington Avenues, Delaware to Schuylkill Rivers and all
other neighborhoods in Philadelphia, plus its nearby suburbs.
We are including a review of information critical to make a
decision on whether to engage in a real estate transaction –
either as a buyer, seller or investor – namely: interest rates,
buying power and inventory.
The 1Q19 period showed a decline in the Center City market
with transaction volume and pricing down and Days on Market
(DOM) ticking up significantly, indicating buyers are being
more selective after years of a daunting seller’s market. Greater
Philadelphia and the surrounding suburban counties have not
yet felt this effect, but the city typically is a leading indicator of
things to come.
Our experience shows that well-located, well-priced properties
still move quickly. We’ve seen our share of bidding wars
already this Spring Selling Season, but caution should prevail.
Enjoy this report and as always, please reach out with questions.
The report is available for download here.