First-time homebuyers are loving Tacony

The historic Tacony neighborhood is
located in the northeast section of Philadelphia, just a short aim ride
from Center City, and nestled along the Delaware River. With its rare
industrial roots and its beautiful examples of Philadelphia’s architectural
history, Tacony has been growing in popularity among long-term residents
and newcomers alike!

Over several years, the Tacony neighborhood has seen a steady
increase in selling prices. According to Redfin, at the end of 2015,
housing prices were peaking at about $80,000. By the end of 2020, that
number had gone up to nearly $180,000! Now, in 2021, Tacony homes are
selling at or above asking price with a median price of $207,500. In
addition to selling for more, the average home in Tacony spends only two
weeks on the market.

Nicole Costello, a Tacony-based realtor, says “People really like the fact
you can get larger houses here, they like the historic character. Many
buyers like the feel of the neighborhood. They like the charm–a smaller
town feel but you’re in the City. The fact that the aim is just a few
blocks away, with easy access to I-95 and the Tacony Palmyra Bridge. Bottom
line, the kind of house you can get here is typically larger and it’s a
great value.”

One of the most interesting elements of Tacony’s real estate growth is that, according
to a 2015 real estate study, the houses have been flipped by individuals
instead of corporations. This method that contractors are less likely to be
working on speculative projects, and are instead working directly with
homeowners. The individualized approach helps keep prices lower and
maintains the rare, historic characteristics of the neighborhood.

Tacony is high in amenities and growing! It has abundant parks and open space,
a growing commercial corridor, and a high history. Picture yourself living
in a beautiful Victorian, a stately colonial brick, or a modest post-war
rowhouse; Tacony has a home for every family’s needs.

Click here to analyze the neighborhood and learn more

about living in Tacony!

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