Around the Block: 3/5/2021

March 8, 2021 BY JEFF CITY BLOCK

Up-close look at the Philly Real Estate Market and fun, safe stuff to-do. What are your thoughts on Philly’s low inventory? I’d love to discuss. Please send me an email: [email protected]. This edition of Around the Block was originally published on Saturday, 3/6/21.

3/5/2021

Relevant Commentary, all information Philly (real estate and otherwise), Open Houses, Listings, Happenings, and More — by Jeff “City” Block

The Crazy 2021 Philly Real Estate Market. Super Low Inventory, Part 2

Last week we discussed the Philly Market by looking at the Q4 Philly Housing Report by local real estate economist Kevin Gillen. This week I want to revisit it from an up-close, personal angle.

The biggest takeaway from the Philly Housing Report is that while inventory of “for sale” homes have been low for years, currently, they are at all-time historic lows. Same with Days on Market. The few homes that are available are selling as fast as ever.

Let’s see how that manifests on a micro level by looking at the City Block Team’s inventory. CBT consists of me and 10 other experienced agents, so while a small sample size, we typically carry a significant number of listings.

But right now, as a snapshot in time, CBT only has 23 active listings (13 of them are in one large, under construction condo project) plus 5 Private Exclusive Listings. (I do have many in the pipeline for later this spring, but that is then–please contact me directly if you want advance information).

By contrast, CBT currently has 34 properties under contract, which is huge as we are just entering the Spring Market. No signs of slowing down. We just need more homes to sell.

To get a feel for the kind of homes that have just sold and are currently under contract, please see the collection of homes listed immediately below. And for a sampling of our current listings, please see further below.

What a wild market. Keeps me busy every day, 7 days a week. Have a great week and please contact me with any questions or just to discuss real estate.

Warm regards,

Jeff

2035 Lombard Street Rittenhouse Square 5 Bed \| 5.5 Bath $2,850,000	326 S 21st Street Fitler Square 6 Bed \| 5.5 Bath $2,750,000
8040 St Martins Lane Chestnut Hill 6 Bed \| 5.5 Bath $1,650,000	2110 Delancey Place Rittenhouse Square 4 Bed \| 3.5 Bath $1,395,000
3412 Baring Street University City 6 Bed \| 3.5 Bath $1,100,000	7111 Germantown Avenue, Unit 305 East Mount Airy 3 Bed \| 2 Bath $825,000
418 S 11th Street Washington Square West 3 Bed \| 2.5 Bath $798,000	4230 Pine Street University City 8 Bed \| 2 Bath $725,000
408 S Croskey Street, Unit C Fitler Square 3 Bed \| 1.5 Bath $709,500	134 Spyglass Drive Whitpain 4 Bed \| 2.5 Bath $675,000
4402 Sansom Street University City 5 Bed \| 2.5 Bath $650,000	5001 Florence Avenue University City 4 Bed \| 3.5 Bath $619,000
1704 Manning Street Rittenhouse Square 2 Bed \| 2 Bath $595,000	841 Corinthian Avenue Francisville 3 Bed \| 2.5 Bath $590,000
7111 Germantown Avenue, Unit 201 East Mount Airy 2 Bed \| 2 Bath $590,000	227 S Delhi Street Washington Square West 3 Bed \| 2 Bath $586,000
4709 Baltimore Avenue University City 6 Bed \| 2 Bath $565,000	2520 Waverly Street Fitler Square 2 Bed \| 2 Bath $550,000
2523 Waverly Street Fitler Square 2 Bed \| 1.5 Bath $539,000	1851 Blair Street Fishtown 4 Bed \| 4 Bath $525,000
2101 Market Street, Unit 1104 Logan Square 1 Bed \| 1 Bath $485,000	221 Moore Street Moyamensing 3 Bed \| 2 Bath $380,000
3224 Marshall Road Kellyville 3 Bed \| 1 Bath $174,000	1324 Locust Street, Unit 1123 Avenue of the Arts South Studio \| 1 Bath $95,000

CBT Open Houses

In-Person Open Houses are (safely) Back!*

*For everyone’s safety, all Open House attendees, including the hosting agent, are required to wear facemasks, and to complete the COVID health screening questionnaire prior to attending City Block Team Open Houses.

Spotlight Property

249 S 45th Street

5 BD | 2.5 BA | Huge Rear Yard | Penn Alexander Catchment

$635,000

A significant home in the Penn Alexander Catchment. Very large, nice character, and one of the largest rear yards in University City. The rear yard is 100′ with additional green space beyond it. The entire lot is 196′, and includes an established front garden as well, leading up to the lovely front porch. The rear yard also has a deck and established garden (and cherry and peach trees). On a great block, this home has the bones to be a premier Spruce Hill residence. When creating your home, here is what you will have to work with — 10′ ceilings on the 1st floor and 9’+ on the 2nd and 3rd. Original pine floors through some of the home. Exposed brick. Leaded glass, original character and a lot of cute and quirky details you would expect to find in West Philadelphia. 5 large light filled bedrooms plus a family room. 2.5 baths. Great windows and light throughout.

This is an amazing home on a great block in the Penn Alexander Catchment. Within blocks of Clark Park and its phenomenal Farmers Market, Local 44, Bottle Shop, Green Line, ReAnimator Coffee and Knockbox Cafe, TacoTacoMexican (formerly Honest Tom’s), Tampopo, Pop Shop, Renata’s, Clarkville, Baltimore Avenue Restaurant Row, CVS, movie theater, and much more. Two blocks to the Penn Alexander School. Walk to HUP, Penn, CHOP, Penn Vet, Drexel, University of the Sciences, Presby, Science Center. 11 minutes to Center City by car and plenty of convenient SEPTA options. With a 95 WalkScore and 97 BikeScore.

View full listing here

(Safe) Philly Fun This Week

Women’s History Month Events in Philly

Celebrate Women’s History Month by learning about the numerous contributions that past and modern-day women have made to society at the following attractions:

Head to Valley Forge National Historical Park to visit the Justice Bell — a symbol of women’s suffrage and equality (ongoing).
Check out the comprehensive guide to Women’s History Month on VisitPhilly.com for more things to do.

Photograph & content courtesy of uwishunu.com.

Artist & Artisans Market at Cherry Street Pier

Enjoy some open-air shopping while gazing at stunning views of the Delaware River and Benjamin Franklin Bridge at Cherry Street Pier’s Artist & Artisans Market.

It returned this Friday for its 2021 season. The market operates every first Friday and third Sunday of the month through November 21.

Shopping at this market is an awesome way to support Philly creators.

Photograph from @cherrystreetpier on Instagram & content courtesy of uwishunu.com.

Online Activities in Philly

Here’s an online option this week:

Enjoy a singular performance of Russian composer Rodion Shchedrin’s Carmen Suite from The Philadelphia Orchestra and dance company Brian Sanders’ JUNK (March 4-11).

Photograph & content courtesy of uwishunu.com.

Featured Listings

1725-27 Addison Street Rittenhouse Square 4 Bed \| 4.5 Bath $1,275,000	7111 Germantown Avenue East Mount Airy New Construction $395,000 – $1,050,000
615 Lombard Street Society Hill 4 Bed \| 2 Bath $819,000	1601 Mt Vernon Street Spring Garden $750,000
4 Appletree Court Old City 4 Bed \| 2.5 Bath $675,000	249 S 45th Street BRAND NEW LISTING University City 5 Bed \| 2.5 Bath $635,000
250 S 17th Street, Unit 100 Rittenhouse Square 2 Bed \| 2 Bath $624,000	662 N 33rd Street Mantua Neighborhood $550,000
2200 Arch Street, Unit 804 NEW LISTING Logan Square 2 Bed \| 1.5 Bath $525,000	4617 Pine Street, Unit H210 University City 4 Bed \| 2.5 Bath $449,000
1600 S Beulah Street East Passyunk Crossing $409,000

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.

Some imagery in this e-newsletter was sourced via Visit Philly and UWISHUNU Philadelphia.

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