NW Philadelphia Neighborhoods Hang On to Values, Almost…
Philadelphia home values are drifting downward but only slightly, according to the statistics produced by Zillow. The year-over-year change in value was at -1.1% through the 1st quarter of 2010.
Looking more closely by neighborhood a few showed increases in value, most slight declines. In the NW neighborhoods, Mt Airy, East and West, and are hanging on at values comparable to those in 2006. West Oak Lane and Germantown saw increases in values from 2006 to 2008 resulting from over all improvements in those neighborhoods, and have held onto some of the gain. Chestnut Hill appears to have seen more decline, because sales in the lower price range for that neighborhood are stronger than for the higher value houses.
By clicking on the Zillow link you can check out your own Philadelphia neighborhood to see how you are doing.
