Each Monday, we repost Jeff’s e-newsletter on this blog. Please know that events and Open Houses have passed as this issue of “Around the Block” was originally published on 11/8/19. Interested in touring one of the homes listed below? Please contact [email protected] We’d be happy to accommodate your busy schedule.
Volume 18: Issue 47 11/8/19
Your Weekly Dose of Real Estate News, Open Houses, Listings and More — by Jeff “City” Block
Six Points of Consideration
One question I get asked often this time of year is, “Is there a fall market—when does it begin and end, and how does it compare to the spring market?” Sellers who plan to list after the summer ask this, as do buyers who are looking now and who wonder if more homes will become available before the holidays.
Second, during the historic early aughts real estate run-up (2001-2007), the fall market started after Labor Day. Certainly by September 15th. And started to slow down around Thanksgiving. It was fairly robust, but nothing like the spring. After the Great Recession, the fall market came back, but it started later and was less prolific. Keep in mind, these are all estimates, and homes sell every day/all year round but the fall market now seems to start closer to mid-October. I am not sure if people need to settle in after the summer (if applicable, back to school, Jewish holidays, etc.), but there is a definite uptick later in October, moving into November and tailing off by mid-December.
Third, the fall market is not even close to the spring market as far as total volume. That being said, there are opportunities for both sellers and buyers. For sellers, there is much less competition. The inventory can be scant, and homes start to sell once we hit mid to late October. For buyers, some homes may have been on the market for a while and prices can come down. I am not suggesting that prices are materially lower in the fall. They are not. Rather, if it fits into your timeline to sell or buy in the fall, it can work for both buyers and sellers.
Fourth, the proof is in the pudding. Last year, I planned to sell my personal home in late September, even before the fall market got going. Because I was not timing the market. It is what worked for my family. We moved over the summer and had some work to do to get our home ready for sale. I thought it would be ready by then, and I would not hold it off to time it. Well, I ended up doing even more work than I thought, and I was not ready until late November. Some friends and colleagues asked if I would now wait until early 2019. No way, my home was ready, it looked amazing, and it sold for a great price right away.
Fifth, having your home ready and looking its best is much more important than timing the market.
Sixth, whether buying or selling, I am available to advise you. Working together, we will achieve the absolute best result for your home sale or home purchase. There are so many nuances to consider for every real estate transaction, so if you have questions about timing or any other real estate matter, please contact me at any time.
4 Bed | 3.5 Bath | Garage Parking | Family Room, Office + Den
Light-filled Society Hill home with dramatic living space and an amazing double-wide brick patio and garden. Over 35 feet wide. Garage Parking with secure access literally right across the street (gated, landscaped entrance to the 410 S Front Garage, where you own the perpetual license to a designated, secure garage space). 4 bedrooms plus family room, office, and den (yes, all three), 3.5 baths. Finished Lower Level.
Come see a historic c.1807 townhome combined on a double-lot with a spectacular double-height living room—a 20-foot cathedral ceiling with ladder-formation sky-light, which spans the entire length of this 18’4″ x 25’5″ room. And this great room overlooks a 35′ x 35′ impeccably landscaped garden with areas for entertaining and real relaxation. Just Truly Dramatic Space.
Hardwood floors and flexible and open space throughout. So thoughtfully designed. Spectacular lighting as well. One block from the Headhouse Farmers’ Market, so many great restaurants, and close to all that Society Hill, Old City, Penn’s Landing, Queen Village, and all of Center City has to offer. McCall School Catchment.
Click here to see all of the Compass Coming Soons listed in the Philadelphia area this weekend. These listings are not listed on any other public site, so you can only see then on Compass.com.
If you have any interest or questions, please contact me to discuss. Below are my current Coming Soon Listings.
4530 Locust Street
University City (Spruce Hill)
5 Bed | 4.5 Bath
Office + Bonus Room + Finished Lower Level
4248 Regent Square
University City (Spruce Hill)
5 Bed | 2 Bath | Large Patio $525,000
240 W Penn Street
3 Bed | 1.5 Bath | Finished Lower Level
New Construction 10-Year Tax Abatement
Did you know that I’m part of the Private Client Network?
PCN is Compass’ network of top real estate brokerage professionals that operate in every luxury real estate market in the country.
For more info click the icon above.
Chase a Turkey in West Philly: It’s the Gobble Wobble 5K 11/9/19
On Saturday, The Woodlands will hold their Gobble Wobble 5k, which will lead participants through William Hamilton’s 18th-century historic estate and cemetery. Participants are challenged to outrun the West Philly Turkey and will receive a Gobble Wobble pint glass if they’re one of the first 100 people to register. All proceeds from this race will go towards improving The Woodlands’ running amenities. Click here for details. Registration is at 9:00 a.m. and the race starts at 10:00 a.m.
CraftNOW Create at the Kimmel Center: Free and Fun for the Entire Family 11/9/19
From Marionette making to comic book construction, this free event presented by The Center for Art in Wood, The Clay Studio, Fabric Workshop and Museum, Philadelphia Museum of Art, University of the Arts and more. Kids will love mini mosaics and leaf printing too. 11/9/19 10:00 a.m. – 4:00 p.m. More info here. Catch Drew Nugent & the Midnight Society, Philadelphia’s very own amazing Jazz ensemble! They play at 11:00 a.m.
Dilworth Park Marks the Unofficial Start of Winter 2019/2020
It’s the most wonderful time of the year—when Dilworth Park transforms into an awesome frosty frolic for the holiday season. The ice skating rink is back, as is The Cabin serving hot festive drinks. There is also a Wintergarden with seasonal arrangements and fun topiary characters, a holiday light show and the popular Made in Philadelphia Holiday Market. Click here for more information.
This Week’s Featured Listings
2004 Delancey Street
6 Bed | 5 Bath | 2 Half-Bath
109-11 Pine Street
OPEN HOUSE: SUN 12:00 – 1:00 p.m.
(Spotlight Property of the Week)
4 Bed | 3.5 Bath
Finished Lower Level
264 S 9th Street
Parking OPEN HOUSE: SAT 12:00 – 1:00 p.m.
4 Bed | 2.5 Bath $1,395,000
2138 Catharine Street
Garage Parking OPEN HOUSE: SAT 12:00 – 1:00 p.m.
3 Bed | 2.5 Bath
Finished Lower Level
507 S 45th Street
OPEN HOUSE: SAT 1:00 – 2:00 p.m.
University City (Spruce Hill)
4 Bed | 2.5 Bath
2024 Spruce Street #6
OPEN HOUSE: SAT 12:00 – 1:00 p.m.
1 Bed | 1 Bath
1934 Dudley Street
2 Bed | 1.5 Bath
2401 Pennsylvania Avenue #2A2 RECENTLY REDUCED
1 Bed | 1 Bath $200,000
1324 Locust Street #505
Avenue of the Arts
Have a topic idea for an upcoming issue of “Around the Block”?
Please know that I’m always humbled by and appreciative of your introductions and referrals. If you have a friend or family member that is in need of expert real estate representation, please send them my way. Be assured, I will do my best to exceed their expectations! Thanks for taking the time to read this issue of Around the Block.
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Some imagery in this e-newsletter was sourced via Visit Philadelphia®. Pixabay, Canva.com, and pexels.com
Compass RE is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.