Relevant Commentary, all information Philly (real estate and otherwise), Open Houses, Listings, Happenings, and More — by Jeff “City” Block
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Most ever in a month (in 20 years!)
*see list of properties below
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Let me start with a Spoiler Alert—June’s record number of settlements will be short-lived. Wait until you see July. What a crazy market for all.
Now keep in mind, as we discussed before, there is a big difference in tracking settlements (which typically go under contract 30-90 days prior) and written sales in a month (which is when the buyer makes the decision to buy, and the property goes under contract).
So, as we move from the spring to the summer market, how do things look for current sales? The answer is the market has slowed from the record-shattering April and May Spring Market. There is always a “Spring Market,” and going into each new year, no one knows the exact period when it will peak until after the fact. So, as we sit here on Independence Day weekend, it is clear that for 2021, the peak was April and May.
But this does not mean that the market was slow in June. In fact, while the number of June contracts (19) were much less than April (30) and May (35), June 2021 was still a really solid month. Sales could not remain at the level of this two-month super-surge, but pricing remained solid.
The next question becomes how will the market hold up in July, through the dog days, and into September? These three months are traditionally slower, so we shall see. No one know what will happen next in these times, but it seems as if “slower” for 2021 will still be strong compared to other years. (And yes, my goal was to use the term “dog days” in this piece, and I wrote the entire newsletter around it 😊. I love this term, which I always associate with August. Here is what Wikipedia says about the “dog days of summer.”)
Have a great holiday weekend. I hope you relax, have fun, stay cool, catch some fireworks, and have a chance do whatever floats your boat.
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210 S 25th Street, Unit 1503
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130 S 18th Street, Unit 2401
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440 S Broad Street, Unit 1001
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Here is a list, of the other 21 properties the City Block Team sold this June:
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317 N 33rd Street
Brand New Listing
5 BD | 4 BA | 3,845 SF | Finished Lower Level | Tremendous Outdoor Spaces | Single Family or Duplex | $775,000
One of the finest homes in the City. With spectacular space and light, soaring high ceilings, original hardwood floors, significant original character, a finished basement, tremendous outdoor spaces, and a lovely location in the Powel School Catchment.
317 N 33rd has spectacular bones, and is just awaiting your renovation into a most special property. And so many options. Of course, it would make a grand single family. Or with its RTA-1 Zoning, you could create a “by-right” duplex. At over 3,000’ plus the finished lower level (with separate side-entrance), the bones are already in place to seamlessly create either a single family, duplex, or a property that is readily convertible between the two. On a 33’x125’ lot and with stunning architecture and character, this home is ready for your renovation!
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748 S Harshaw Street
Brand New Listing
3 BD | 2.5 BA | 1,500 SF | Finished Lower Level | Rear Patio | $525,000
Stunning 3 bedroom, 2.5 bath 2-story townhome with a superior finished lower level and cute rear patio. On one of the Graduate neighborhood’s most desirable, quiet tree-lined blocks. Beautiful finishes, beautiful condition, including original random width pine floors throughout.
Open 1st floor plan with an addition on the rear for powder room and laundry.
The 2nd floor has two nice-sized bedrooms and a tiled full bath. Excellent light.
The sellers spent 6-figures on the finished lower level (and some other improvements), and it looks it. This lower level is really, really nice.
An overall very high-quality home, with great character, shows great, awesome block. A+ Location with a 96 WalkScore and 95 BikeScore. Walk to so many restaurants, coffee shops, and shopping within a couple blocks and just a few blocks further to Rittenhouse Square.
NOTE: The listed square footage includes the finished lower level.
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327 S 17th Street #2M
Brand New Listing
1 BD | 1 BA | 535 SF | Ideal Layout | Pet Friendly | The Best Location | $295,000
Where 17th Street meets Delancey. One of Rittenhouse Square’s most charming 1 bedroom residences.
A warm and wonderful condominium with loads of character and an ideal layout. Very high ceilings, hardwood floors throughout. Lovely, move-in condition. Well-managed, pet friendly, boutique 6 unit building.
And the best location, less than 2 blocks off the square. 99 Walk Score. Parking available close by though you can walk everywhere–restaurants, supermarket, spectacular Rittenhouse Farmers’ Market, coffee shops, tons of shopping, universities, hospital, and 30th Street Station. Great for biking and SEPTA as well. 99 WalkScore. 100 TransitScore. 93 BikeScore.
NOTE–This building is beautifully run and maintained. One extra improvement is they installed a water pressure pump for great water pressure throughout!
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New Pop-ups and Attractions
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Head to LOVE Park for The Lawn at Loveluck lasting all summer long. This pop-up offers a picnic atmosphere where Turney will serve burgers, sandwiches, and curly fries. And to wash down their meals guests can enjoy canned beers, wines, and seltzers. The 9,000 sq.ft. outdoor dining area space is filled with picnic tables, Adirondack chairs, and tall, shady trees. The pop-up is open from 3 to 10 pm on Tuesday through Friday, and from noon to 10 pm on Saturday and Sunday.
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Head to the interactive Wonderspaces museum in the Fashion District to see three funky new exhibits. One exhibit, Erupture, features awesome, inflatable sculptures made to look like microscopic lifeforms.
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Arts & Culture Recovery Week
July 5th starts Arts & Culture Recovery Week which is a new experience created to support the people and institutions that dealt with substantial cuts during the pandemic.
This week is organized by the office of Philly City Councilmember Isaiah Thomas, in partnership with Forman Arts Initiative and other organizations.
Support the arts and enjoy awesome activities such as musical performances from local artists, comedy showcases, street art lessons, and more.
Visit the Art & Culture Recovery Week website for more events and details.
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Mount Airy
New Construction
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317 N 33rd Street
BRAND NEW LISTING
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441 S 44th Street
NEW LISTING
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2 Bed | 1.5 Bath
$595,000
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250 S 17th Street, Unit 100
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733 S 12th Street, Unit 200
NEW LISTING
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748 S Harshaw Street
BRAND NEW LISTING
3 Bed | 2.5 Bath
$525,000
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3 Bed | 2.5 Bath
$525,000
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2 Bed | 1.5 Bath
$460,000
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1811 Packer Avenue
NEW LISTING
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327 S 17th Street #2M
BRAND NEW LISTING
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6241 Morton Street
BRAND NEW LISTING
4 Bed | 2.5 Bath
$275,000
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1810 Rittenhouse Square, Unit 503
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Monroe – Gloucester County
3 Bed | 2.5 Bath
$199,900
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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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Some imagery in this e-newsletter was sourced via Visit Philly, UWISHUNU Philadelphia, aampmuseum, thephiladelphiacitizen.org, and Canva.
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