As we look back on the housing market over the last year, we see just how in-demand the Philadelphia suburbs have become and continue to be. With residents spending so much time inside their homes, they have reprioritized what they are looking for when it comes to their next home. The majority of the workforce is still working from home either full-time, or in a hybrid capacity, meaning the home office, or space for a desk is still a high priority on the homebuyer’s list.
With more and more residents no longer needing to live in the city for work, residents have been flocking to the nearby suburbs searching for the convenience of the city alongside large spaces and private outdoor spaces. Ardmore is a great choice for former city dwellers looking for a suburb with a vibrant restaurant and shopping scene and easy accessibility to public transportation. Ardmore is one of the most prominent towns along the Main Line in the Philadelphia suburbs and is home to just over 13,000 residents. It has seen a significant increase in sales over the past year and is in high demand thanks to its quiet tree-lined residential streets situated its bustling downtown streets and central shopping center, Suburban Square.
If residents looking to leave the city are looking for a charming single-family or twin home oozing with original character that’s still steps from public transportation, award-winning restaurants, and unique boutiques, then Mt. Airy is the perfect suburb for them. Mt. Airy sits in the NorthWest corner of Philadelphia County and provides its 27,000+ residents with quaint, tree-lined city streets flanked with history and charm. It has seen a large decrease in its average days on market thanks to its easy commutability into center city Philadelphia, and its bustling boutique and restaurant scene.
For those residents who aren’t quite ready to leave the hustle and bustle of the city yet, but want easier access to parking and private outdoor spaces, University City is the perfect place. Filled with over 11,000 full-time residents on top of its college students attending nearby Drexel, Penn, and University of the Sciences, this eclectic neighborhood has seen an increase in sales over the past year thanks to its lower price points and accessibility to major businesses.
For those who no longer value commutability into the city, but instead prioritize privacy and large indoor and outdoor spaces, Media is the perfect suburb to flock to. With its own quaint and historic downtown streets surrounded by classic suburban subdivisions and farmland, this suburb truly has the best of both worlds. Media has seen a significant increase in sales prices and on average, homes are spending only 12 short days on the market before selling thanks to its private properties, award-winning school district, and accessibility to major highways.
Now more than ever it is crucial to work with an expert when it comes to buying and selling in this ever-changing market. We have seen so much change in the Philadelphia and suburban markets since the March of 2020 from home values skyrocketing, to buyer demand increasing, and mortgage rates dropping to historic lows, and we are here to help you through every step of this process. Every member of the Dee Greene Hill Team is an expert in their area and is monitoring the trends as they come along. With our extensive knowledge, we are able to steer our clients in the right direction based on the current state of the market at that time and in that area.