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Mcjibblies t1_ixlslcs wrote

Reply to comment by filladellfea in Two Philly developers think Atlantic City can look more like Amsterdam with the help of a $3 billion housing development by Dryheavemorning

And if that sounds too far fetched, West Philly is actually considered a really attractive housing market right now.

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jbphilly t1_ixlvuew wrote

West Philly is a huge and diverse place. If you’re talking about University City, that’s nothing new or surprising in the slightest.

Cobbs Creek is certainly starting to gentrify (as people get priced out of east of 52nd) which is newer, but also was predictable enough if prices in Cedar Park continued to get unreasonable. And I don’t know if it’s really all that hot now, notwithstanding some eyebrow-raising sale prices during the height of the boom prior to interest rates going up.

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Mcjibblies t1_ixmfxn5 wrote

$400K at 62nd and Walnut, that’s all I have to say.

Neighborhoods can and will change

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jbphilly t1_ixn3806 wrote

This made me curious and I checked out the Sold option on Zillow. Closest thing I see is a 3 bed/3 bath house at 62nd and Walnut for $245k from earlier this year. That is a pretty bananas price for that far west and does speak to a wild market, but I'm not seeing 400k. That number just started to show up for larger houses in the 52-5300s at the height of low-interest-rate real estate boom.

There are some people with clearly no grasp on what the market will actually support, listing houses like this at 62nd and Ellsworth for laughable prices. But I don't see the real gentrification wave reaching that far any time soon.

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kman1018 t1_ixt865a wrote

How much would you value the house in that listing at?

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jbphilly t1_ixv2nov wrote

I have no idea honestly, but 470k is absolutely insane for that location.

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Mcjibblies t1_ixq6mct wrote

So, I see about 4 or 5 houses over $300K, and one for $470K on south 62nd. I am trying to see how I can see previous home sales prices for the $400K at 62nd and Walnut.

South West for close to $400K is insane

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