With so many “hot new neighborhoods” all throughout Philadelphia, it’s easy to forget about Queen Village, one of the most consistently strong residential and commercial real estate markets in town. Bounded by Lombard to the North, Washington Ave. to the South, 6th street to the west and Front street to East, Queen Village encompasses two of the city’s most popular commercial corridors (South Street and Fabric Row), and is home to several historical sites, as well as the Meredith school district (one of the best in the city). The neighborhood was in a post-industrial decline throughout the first half of the 20th century until the 60s and 70s, beginning with South Street’s commercial revival. The neighborhood has one of the highest median incomes of any area in the city, and in many ways serves as an example for other gentrifying neighborhoods in Philly. But even with all the talk about Northern Liberties, Graduate Hospital and the other trendy neighborhoods, the neighborhood that laid out the template can sometimes be put on the back burner. Let’s take a look at Queen Village real estate, and see what trends may be occurring in “Philadelphia’s first suburb”.
Queen Village Real Estate Market Snapshot:
The Queen Village real estate market has remained consistent over the past year. With a median sale price right around, $283,000, compared to a city-wide median sale price of about $115,000. Queen Village real estate tends to be especially popular with family, with nearly 3,000 families in the area. This is thanks to the relative safety of the neighborhood, as well as the popularity of the Meredith school district, located entirely in Queen Village. 42% of residents in Queen Village are also homeowners.
History and recent statistics teach us that Queen Village is and will continue to be one of the strongest real estate markets in Philadelphia. With funky boutiques and restaurants, easy access to Center City and the Waterfront, plenty of green space and parks, plus one of the city’s best school districts, Queen Village is home to an eclectic mix of residents. Everyone from families, young professionals, students, empty nesters call QV home. If the opportunity to buy in the Queen Village real estate market presents itself, it’s most likely a worthwhile investments. Residents have clearly invested in the neighborhood, and property values will most likely increase in the years to come.
Click the link to see Homes for Sale in Queen Village