South Philly housing prices keep taking off. Take that, Fishtown
We’re the blue line.
This graph was part of a housing report done by Econsult, which you can find here. Using 2003 prices as a baseline, the economics firm calculated price changes throughout the city, and as you can see, South Philly came out on top.
You can also think back to when you or your neighbors bought your house (find out what they paid at property.phila.gov) and see if this graph matches up to what you think your place is worth now.
Plan Philly sparked a fairly lively debate in its comments when it asked why south of Center City would be developing faster than north. We have a few ideas about why prices would climb here quicker than in, say, Fishtown, but what are yours?
Because you can walk to CC more easily.
Not needing a car frees up a lot more income that can be spent on the house.
The neighborhoods are much nicer, we have Passyunk Avenue, we have 9th street market, we have South Street, and we can walk straight into Center City, have the subway and plenty of bus routes too. Much of the best culture of the city is here in South Philadelphia, as well as some of the best food, produce, easy access to shopping centers and stores, a movie theater, the waterfront, Front and Snyder, the list goes on and on. What does North of Broad have besides Fishtown? Not much in comparison. Sad truth, but you can live in South Philly and not live in the ghetto. Though people are moving into Point Breeze, and I think 7th street will have a rapid transformation in 10 years as well.
I am in total agreement but to clarify Fishtown is no way near N. Broad St. Its East of Frankford Ave. And that neighborhoods pricing is on point with Passyunk. This is good for everyone!
90% of what there is to see and do in Center City or University City is south of Market St. *and* there is no Vine St. Expressway/Parkway/BF Bridge or Convention Center or Callowhill industrial district to cut South Philly off from Center City.
Weird thing: when friends who have never been to Philly come and visit me, their top destination is Pat’s/Geno’s. And then they spend 4 hours driving around Dickinson Narrows looking for parking. And then for months I hear “Oh, South Philly is so nice! There are families and cute brick houses and you can walk to everything.” And then some of them end up moving there.