Fishtown, like Philadelphia in general, is one of those places you either love or hate. And, according to a new report, it seems a lot of people love it.
Real estate website Redfin, which releases internal research on a regular basis, reported that of all Philly neighborhoods, Fishtown comes first as the most competitive. "We determined the ranking by calculating seven factors," explained Redfin's Alina Ptaszynski, "including the percentage of homes that sold above asking, the median days on the market" and the number of sales that involved what Redfin calls "bidding wars."
Fishtown's figures are, arguably, impressive.
There, the median sale price was $245,000, which is $30,000 above the median sale price for homes across all of Philadelphia. Sixteen percent of Fishtown homes sold above the list price, too, with those homes staying on the market about 53 days.
Fishtown homes also saw a 14.5 percent growth in median sale price over the past year.
Perhaps most impressive is that, according to Redfin, 38 percent of all home purchases in Fishtown were paid with all cash.