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Why now’s a good time to sell | Real Estate Newsletter

And ranking rental destinations.

Michaelle Bond

When’s the best time of year to sell your property if you’re a homeowner in the Philly area? Right now, according to one analysis.

Specifically, this week has the best combination of favorable factors for home sellers in the Philly metro. But, you’re thinking, it’s Thursday, so what are you supposed to do with this information? Well, it turns out the next month or so is nearly as good a time to sell.

Keep scrolling for that story and to see where Philly ranks among the country’s best renting destinations, read about Center City’s newest apartment tower, and peek inside an apartment in the Carson in Northern Liberties.

📮Studios in the new Center City apartment building start at $1,675. How much would you be willing to pay for a studio in Center City? For a chance to be featured in my newsletter, email me.

— Michaelle Bond

If someone forwarded you this email, sign up for free here.

Spring has sprung, and the housing market is heating up. If you’re a homeowner looking to sell, how do you know when to expect the perfect time to jump in?

The bottom line is that homeowners should sell when it makes sense for them personally. But for anyone looking for a little more direction, the online real estate marketplace analyzed its data to find which week of the year is best for selling a home.

Our area’s best week — this one — is a little earlier than the best week nationwide, which starts April 14. Other metro areas’ best weeks range from earlier in March to mid-May.

If you’re a potential home seller in the Philly area, this is the week you can expect the best combination of:

  1. higher home prices

  2. higher buyer demand

  3. faster sales pace

  4. lower chances of price cuts

  5. less competition from other sellers

Keep reading for details about seller perks this time of year, the best time of year for home buyers, and the reason why homeowners in our area who aren’t ready to sell in the next month don’t have to rush.

And now something for the renters.

The nationwide apartment search website RentCafe looked at the 150 largest U.S. cities to see which places renters are most interested in. And Philly is way up on the list.

The city was the No. 7 most desired place in which to rent last month. It’s the first time since RentCafe started its monthly analysis last April that Philly ranked in the top 10. And it climbed 42 spots compared to January.

I talked to a real estate agent who knows how popular the city can be for renters. Some of her clients “had to get creative” to snag the South Philly rental they fell in love with a few months ago. The women wanted a yearlong lease but offered 18 months, emphasized their flexibility on the move-in date, and offered to pay $150 more per month in rent. They beat out other applicants to get the home.

Keep reading to find out why renters want to live in Philly.

The latest news to pay attention to

  1. Center City’s newest apartment tower is a high-end building that will start leasing soon.

  2. Politicians and interest groups of all kinds are pushing for changes to get more homes built in Pennsylvania.

  3. This one-of-a-kind classroom teaches tweens elements of plumbing, carpentry, electrical work, and masonry.

  4. Philadelphia City Council is looking at the business that’s grown around vacant properties.

  5. Take a sneak peek at the luxury fitness studio headed for Rittenhouse Square.

  6. The Phillies say they’re joining Comcast Spectacor in a $2.5 billion transformation of the South Philadelphia Sports Complex.

  7. South Philly residents are suing the city over changes to FDR Park.

  8. House of the week: For $429,900 in Ridley Park, a four-bedroom Victorian.

Meredith and Marcos Maciel had just finished unpacking at their new one-bedroom, one-bathroom apartment and were ready to explore their new neighborhood, Northern Liberties. They stopped at Silk City for dinner.

The next thing they knew, retired NFL running back Marshawn Lynch was at their table, asking whether they’d ever eaten scrapple. Lynch was filming a review of the locally famous breakfast meat. (I’m Team Pork Roll.)

He invited them into his private event in the back and introduced them to his friends and family.

The Maciels have continued to feel good vibes in their new neighborhood and city.

Meredith said she fell in love with the Carson on a tour.

She wanted lots of natural light and a layout that felt spacious. She’s happy with their apartment’s large south-facing windows and the wall of windows in the bedroom. When the Maciels want more space to entertain, they can wheel the kitchen island out of the way.

Peek inside the couple’s home and see the other amenities that drew them to the apartment building.

🧠 Trivia time

Pennsylvania has acquired the state’s last private mountain from a former casino owner. The 2,500-acre mountain in Northeast Pennsylvania is now open to hiking, biking, and bird watching.

Question: How much did the mountain cost?

A) $1 million

B) $5 million

C) $10 million

D) $15 million

This story has the answer.

📷 Photo quiz

Do you know the Philadelphia location this photo shows?

📮 If you think you do, email me back. You and your memories of visiting this spot might be featured in the newsletter.

Last week’s photo showed people standing at the Fairmount Fish Ladder off Martin Luther King Jr. Drive to see the Boathouse Row lights being relit.

Shoutout to Michele B., Francis F., and Tim B. for knowing that answer.

Michele said she rows at the Philadelphia Girls’ Rowing Club and was one of the people on the fish ladder during the relighting ceremony. She told me she walked from her home in Fairmount to the zoo to the observation point. She remembers when the lights were lightbulbs.

“When I would invite people in to visit, they were always amazed. Now everything is incredibly efficient, modern and quite frankly amazing. Incredible that Philadelphia’s boathouse row lights are iconic across the world. Seems that everyone likes us and we care (except of course for 🏈).”

Francis wasn’t at the ceremony but used context clues to answer the quiz.

“I love Boathouse Row and seeing the sculls on the Schuylkill. I live in Germantown so anytime I come into Center City by bike or car I get to enjoy the boathouses. Undine is my favorite.”

I had to look up which one that is, but I gotta say that Francis chose well. Let me know if you have a favorite boathouse.

And this spring break season, my colleague Elizabeth Wellington rounded up 15 “chic, cozy” hotels in Philly for your next vacation or staycation.

Enjoy the rest of your week.

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