Jeff’s newsletter was originally published on 2/14/20. Please know that the Open Houses (and most of the events) featured in this edition below have already passed, but if you’d like to arrange a special time and date to see these awesome homes or any home in Philadelphia, just email [email protected] and we’ll get it all arranged for you! We’re happy to accommodate your busy schedule! We’re also here to answer your toughest Real Estate questions.
Volume 19 : Issue 61 2/14/20 ❤️
Your Weekly Dose of Real Estate News, Open Houses, Listings and More — by Jeff “City” Block
Happy Valentine’s Day
Here’s an Early Spring Market Update
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.
Rare opportunity to own a pristine, completely and beautifully renovated Triplex plus Garage on a tree-lined corner in the heart of the red-hot Cedar Park neighborhood. A+ location, about one block to the Baltimore Avenue commercial corridor and Restaurant Row! This is a grand, light-filled corner property. Fully occupied, totally separated, income-producing building within the boundaries of the University City District. This terrific triplex with 1-car garage is your perfect, turn-key investment opportunity! Or live in a unit and let the others pay your mortgage.
Easy walking distance to neighborhood favorites such as Mariposa Food Co-op, Dock Street, Bookers, The Cedar Works, Studio 34 Yoga, Satellite Cafe, The Gold Standard Cafe, Vietnam Cafe, Loco Pez, Greensgrow West, and a beloved community garden. Located within an easy walk to 2 trolley lines and R3 & 64 bus routes that link it easily to universities, hospitals, 30th Street Station, museums, and all that University City and Center City have to offer.
This building is separately metered and sprinklered. Jump on this incredible opportunity perfect for an investor and home-owner occupant!
If you have any interest or questions about the property featured below, please contact me to discuss.
4720 Larchwood Avenue
University City
4 Bed | 2.5 Bath $579,900
Fun Philly Stuff
National Jazz Festival in Center City
Saturday, 2/15/20 8:30 a.m. – 5:00 p.m
Hearsome of the best high school and middle school jazz musicians in the country at the Pennsylvania Convention Center. This event celebrates jazz education in a big way. You can view the entire schedule here. A cool way to expose kids to all different kinds of jazz music, including vocals, and it’s free!
Make-and-Take Chocolate in
Society Hill Sunday, 2/16/20 5:00 – 7:30 p.m
(and BYOB)
Maybe you still have not found that perfect Valentine’s gift? Or maybe you just love eating artisan chocolates. At Aurora Grace Confections (517 South 5th St). You can create chocolate bars with fun toppings and also learn how to hand-roll truffles made from chocolate ganache.
Everyone gets a chocolate bar and 9 truffles ($28.00 value), plus get 15% off in-store purchases the day of the class.
You can even bring your favorite bottle of wine to enjoy during the workshop.
Register online to attend the class. Space is limited!
Cost: $65 pp. Click here! Can’t make it? There’s another class on Sunday, 2/23/20.
PSCPA Valentine’s Pet Matchmaking Now through the end of February
Valentine’s Day is here, and the Pennsylvania SPCA is matching awesome animals with new forever families.
You can be introduced to a canine cutie on the cheap because the organization is providing a $50 credit towards your true dog match (lowering the adoption fee).
Through the end of this month, you can take advantage of this offer. Cat adopters can receive discounts as well. Click here for more info.
Winter Beer Event in South Philly Saturday, 2/15/20 2:00 – 6:00 p.m.
Love craft beers and live music? You’re in luck. Winterfest Live! is back. Live bands, DJs, outdoor fire pits, games, activities, prizes, and giveaways. Enjoy samplings of 150+ great beers plus gluten-free beer & hard ciders will be available. 21+ only. Get tix here. Follow #winterfestlive on social.
This Week’s Featured Listings
2004 Delancey Street
2-CAR GARAGE
Rittenhouse Square
6 Bed | 5 Bath | 2 Half-Bath
$4,195,000
3405 Baring Street
1st OPEN HOUSE:
SUN 11:30 – 1:00 p.m.
University City
6 Bed | 4.5 Bath | 3-Story Victorian
$875,000
800 S St Bernard Street
NEW LISTING
SPOTLIGHT LISTING OF THE WEEK
University City
Renovated Triplex + GARAGE
$725,000
5010 Hazel Avenue
OPEN HOUSE: SUN 11:30 – 1:00 p.m.
New Construction with
10-Year Tax Abatement
University City
4 Bed | 3.5 Bath
Finished Lower Level
$579,000
210 W Rittenhouse Square #2503
On-site Parking Available
NEW LISTING
1st OPEN HOUSE:
SAT 12:00 – 1:00 p.m.
Rittenhouse Square
1 Bed | 1 Bath $525,000
531 Greenwich Street
OPEN HOUSE: SUN 2:00 – 3:00 p.m.
SOON TO BE FEATURED ON
HGTV’S HOUSE HUNTERS!
Dickinson Narrows
2 Bed | 2.5 Bath $365,000
173 W Price Street
OPEN HOUSE: SUN 11:30 – 1:30 p.m.
BRAND NEW CONSTRUCTION
10-YEAR TAX ABATEMENT
Germantown
3 Bed | 2 Bath $350,000
615 Elkins Avenue
Detached 2-car GARAGE
NEW LISTING
1st OPEN HOUSE:
SUN 1:00 – 3:00 p.m.
Elkins Park
3 Bed | 2.5 Bath
$325,000
351 S 47th Street B205
Garden Court Condominium
University City
3 Bed | 2.5 Bath
$295,000
2053 Christian Street #B
OPEN HOUSE: SUN 12:30 – 1:30 p.m.
Graduate Hospital
1 Bed | 1 Bath $275,000
240 West Penn Street
OPEN HOUSE: SUN 1:30 – 3:30 p.m.
BRAND NEW CONSTRUCTION
10-YEAR TAX ABATEMENT
Germantown
3 Bed | 1.5 Bath $269,500
610 Annin Street
Passyunk Square
2 Bed | 1 Bath
$250,000
CBT Under Contract
407 S 43rd Street
2003 Brandywine Street
264 S 9th Street
501 S 45th Street
503 S 45th Street
902 S 48th Street
4610 Springfield Avenue
3914 Brandywine Street
315 New Street #510
1501 Green Street #4
1324 Locust Street #505 2215 Cantrell Street 1018 S 24th Street
416 N Saunders Avenue
2004 S Beechwood Street 167 W Abbottsford Avenue
1844 McKean Street 1508 N Mascher Street #10 2350 N Park Avenue
1730-32 W Seybert Street
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 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.
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.
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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.
