The Median Phoenixville Home Price in 2022 Is $400k
It doesn’t take a real estate license to see that the housing market is tough for home buyers. I recently wrote about why the Phoenixville housing market is hot but decided to write another blog based on the response on Facebook. It sounds like a nightmare for people trying to buy a home right now. As someone chewing on the idea of potentially buying a home, I decided to research the area. GASP! The median Phoenixville home price is listed at $399.9k.
Okay, but I am not really surprised. We know the market, we know the reasons behind it, but when is it going to come down from space?
The Numbers
Who knows, but here’s a quick screenshot of realtor.com.
Oof…
House Type
To gain more insight into the types of homes skewing the data, I decided to check the types of homes sold in the borough.
The most common home type sold in the borough is a townhome–no brainer. To dig deeper, I took all the homes sold in the last 90 days and averaged the sale price using Zillow’s curated listings.
Zillow’s search yielded 31 homes sold in the past 90 days. I took the average–not the median–and it resulted in $310,000 for a townhome.
$310,000
Is It Worth It?
It’s clear people have tons of reasons to buy a home. You might need more space for a family, want to build equity, or even use it as an investment.
Sure, Phoenixville is a trendy town outside Philadelphia, but do you want to spend $310,000 to ‘kind-of’ walk to Bridge Street. I love this town, but it might not be worth it to others.
Travel 20 minutes north on Route 422, and you can buy a townhome in Pottstown for somewhere in the mid-100k range. You can argue school district choice, distance, and economic background play a part in the housing market price. Yet, paying for the amenities of a home in-town might cost you an extra 100k, is it worth it?
Scandals–like Zillow’s algorithm buying process–have taught us that dictating homme prices cannot be done with one factor. It takes walking inside, evaluating structure, accessibility, and checking personal boxes to purchase a home.
Take this blog as an opinion, but the numbers within the text are taken from real metrics happening around us.