Preparing for the Fall Market: What to Expect in Philadelphia and the Jersey Shore

The decision to buy or sell a home is one of the most significant ones in our lives, and I have been fortunate to assist many clients through this process. As a trusted realtor with over 18 years of experience in Philadelphia and the Jersey Shore, I strive to keep my clients informed about the current state of the market and highlight the opportunities it offers. My dedication to ensuring clients receive unparalleled service has been recognized for 12 consecutive years with the prestigious 5-Star award—a distinction earned by only 2% of real estate agents. 

According to Q4 2023 projections, the housing market in Philadelphia is expected to stabilize in the later part of the year. Even though 6,753 homes were sold in the Philadelphia area, which is slightly lower compared to 2022, this trend is evident. Active listings have witnessed a decline of 15.1% compared to the previous year, resulting in just 1.59 months of supply. Despite this limited availability, Philadelphia's median sale price has achieved a new high, reaching an impressive volume in June. These numbers, combined with the rapid pace of sales reflected in the average of just 8 days on the market in June, unequivocally speak of strong buyer demand and a market favoring sellers. 

At the Jersey Shore, although inventory continues to decline, sellers are seeing the silver lining with increasing home values. Although it is competitive for buyers, the anticipated drop in mortgage rates combined with steady home prices provides a glimmer of hope.

As I continually strive to enhance the services offered to my clients, I am excited to share that I have recently joined The Novelli Team. This partnership amplifies my reach and capability, allowing me to serve my clients even better. Our combined expertise, evident from my recent sales of Philadelphia condos, townhouses, and family homes in Margate, demonstrates our commitment to navigating these nuanced markets successfully. Whether you're looking to sell in Philadelphia or buy along the Jersey Shore, I'm here to help navigate these dynamic markets for the best possible outcomes.