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Witty takes, can't-miss Philly updates, insider info, and curated listings - by Jeff "City" Block |
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| Dear Readers— I hope everyone enjoys the long Presidents' Day weekend. Specifically honoring Presidents Washington & Lincoln. Technically, the federal holiday only honors George Washington, but as it falls between the first and sixteenth presidents’ birthdays (2/22 and 2/12, respectively), it is a de facto celebration of both of these men. Neither perfect human beings for sure. But great leaders just the same.
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| | This is also Valentine's Day weekend. On 2/14/2020, I wrote an interesting ATB-- This is quite the blast from the past, as the world changed forever about one month later… |
| The 2020 spring real estate market has started early and it’s red-hot. In fact, it has started earlier than I ever remember in my 19 years in the business. Typically, January is very slow. And the early spring market gets going after the Super Bowl. February starts to pick up towards the end, and March 1st is when things begin to heat up, and continue at a frenetic pace through Memorial Day. Then June is still solid. July starts to slow down. August through mid-October is slower. Fall market is from mid-October through early or mid-December. And then the cycle repeats. This year, the first full week of January was a blast. The City Block Team had multiple sales and new listings. This is usually among the slowest weeks of the year–you know–beginning the process of getting back into the routine after the holiday season, catching up, planning for the year. Not this year. In January, City Block Team wrote 21 deals for $8.3 million. Unprecedented for January. And my colleagues at Compass said they were well ahead as well. One fascinating thing about these numbers is that available inventory remains exceedingly low. So generally speaking, properties that are out there are selling. What does this mean moving forward for 2020? No one knows, of course, but I would not be surprised if the solid spring market continued, especially because the inventory remains low. It is also possible that the market will slow down sooner this year, as that would follow the trend of years where the market has started late and then continued later. Perhaps the frenzy will end at the end of April and not May and then die down for the summer in early July instead of August. We shall see but it is fun so far. That’s for sure. Have an amazing weekend. Warm regards, Jeff |
| “What does this mean moving forward for 2020? No one knows, of course.” Well, that turned out to be a colossal understatement, as a month later, the real estate market came to a halt. Literally. We were not allowed to show homes. Full stop. Would we ever sell another home? Yes, as it turned out. 2021 was an absolute record-breaking year for real estate. Now fast forward to early 2026, and snow, ice, and bitter cold have leveled the city. However, while it is no January 2020, I am busier than I have been in several years. Hopefully, as the weather thaws, the market will continue to stay hot as well. For now, please enjoy the weekend. Best regards, Jeff |
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Please contact Jeff to obtain more information and get the exact property addresses for the Private Exclusive and Coming Soon Listings below!
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Looking to "Sell Your Home on Your Terms?" Click Here
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| | | Duplex with owner's unit | 2304 SF | $625,000 |
| Pristine duplex on a quiet University City block lined with mature trees and late 19th-century twin homes. Perfect for an owner-occupant looking to offset expenses with additional income or an investor, this twin home offers a spacious bi-level 3-bedroom, 2-bath with rear deck and yard and covered front porch; plus a bright 1-bedroom, 1-bath unit. Fully separated electric and gas with separate heat boilers for each unit. Finished basement for tons of storage & two sets of washers/dryers. The property grosses $50,000+/year (with 4% annual increases) and includes a private entrance for each unit, newer replacement windows throughout, a shared basement with two washers and two dryers, plus tons of storage (excellent storage throughout). Three exposures and large windows for maximum light. This duplex offers great space in an awesome location—with a 93 WalkScore, it is a short walk to Clark Park and its fabulous Farmers' market, Cedar Park, University City Swim Club, ReAnimator Coffee, Knock Box Café, Mariposa Food Co-op, Bookers, Carbon Copy, Gold Standard, Vietnam Cafe, Vientiane, Loco Pez, Doro Bet, Gojjo, Cleo Bagels, and all of Baltimore Avenue's Restaurant Row, as well as other restaurants, shops & cafes. Close to HUP, CHOP, Penn, Drexel, Penn Vet, and 13 minutes to Center City by car or bik,e and plenty of convenient SEPTA options. Awesome home, block, and location.
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| | University City NEW LISTING! OPEN HOUSE! |
| | 5 BD | 2 BA | 2922 SF | $585,000 |
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| | | Rittenhouse Square NEW LISTING! PENDING! |
| 220 W Rittenhouse Square #8B |
| 1 BD | 1 BA | 925 SF | $520,000 |
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| | | | 5 BD | 6 BA | 5850 SF | $1,150,000 |
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| | | Rittenhouse Square PENDING! |
| | 2 BD | 1 BA | 675 SF | $385,000 |
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| | Graduate Hospital Brand New Listing! PENDING! |
| | 3 BD | 2.5 BA | 2376 SF | $825,000 |
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| | | Fairmount-Art Museum BRAND NEW LISTING! OPEN HOUSE! |
| | 2 BD | 1.5 BA | 1238 SF | $499,000 |
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| | | | East Oak Lane NEW LISTING! |
| | 5 BD | 2 BA | 2300 SF | $430,000 |
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| | | | 4 BD | 3 BA | 2304 SF | $625,000 |
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| | | | | 3 BD | 3.5 BA | 2010 SF | $329,900 |
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| | | | 3 BD | 2.5 BA | 1821 SF | $446,000 |
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| | | | | 3 BD | 2 BA | 1350 SF | $495,000 |
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| | | | 7 BD | 8 BA | 9500 SF | $4,995,000 |
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| | | Albany Township - Berks County PENDING! |
| 333 New Bethel Church Road |
| 6 BD | 4.5 BA | 2507 SF | $1,497,000 |
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| | | 2601 Pennsylvania Ave #952 |
| 2 BD | 1 BA | 958 SF | $250,000 |
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| | | | | 1 BD | 1 BA | 883 SF | $265,000 |
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| | Know Someone Looking to Buy or Sell? |
| As always, please know that I’m humbled by and appreciative of your introductions and referrals. If you have a friend, colleague, or family member that is in need of Expert Real Estate Representation, please have them contact me.
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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Office: 646-982-0353 Compass RE is a licensed real estate broker. All material is intended for informational purposes only and 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 or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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Some imagery in this e-newsletter was sourced via visitphilly.com and Canva. |
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By submitting information, I am providing my express written consent to be contacted by representatives of this website through a live agent, artificial or prerecorded voice, and automated SMS text at my residential or cellular number, dialed manually or by autodialer, by email, and mail.
