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Philadelphia Foreclosure Market Trends 2022

Foreclosures have traditionally been prime opportunities to secure a below market property for investors, and savvy first time homebuyers who are willing to take on some renovations. In fact I’ve helped several Philadelphia first time home buyers, and “house hackers” purchase foreclosures using an FHA203K loan prior to COVID.

However, that has changed! Foreclosures coming to market in 2022 are at or above market values. In fact in the detailed reports below that cover both Pennsylvania state-wide foreclosure activity YTD as well as the greater Philadelphia area, you’ll see the average SOLD price to LISTING price is running at 108% to 110% (if you’d like a copy of the detailed reports, contact us);

Pennsylvania State-wide foreclosures YTD 2022:

  • 172 New bank owned listings since January 1st
  • 25 Closed; avg DOM 13
  • 8 Pending; avg DOM 19
  • 6 A/C (under contract); avg DOM 22
  • 73 Active; avg DOM 27
  • Sold to List price ratio 108%

Philadelphia and Main Line Suburban foreclosures YTD 2022:

  • 94 New bank owned listings since January 1st
  • 12 Closed: avg DOM 13
  • 38 Pending; avg DOM 18
  • 4 A/C (under contract); avg DOM 18
  • 40 Active; ag DOM 27
  • Sold to List price ratio 110%

For more information and access to all foreclosure and short sale listings;

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Susanna Kunkel

Susanna Kunkel brings her skills from a career in the executive offices of major corporations to her real estate business - treating each client like a VIP. With 18 years of experience as a real estate advisor, you can be confident in knowledgeable, personalized, confidential service. Hear what her clients say - www.AskMeAboutSusanna.com

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