Real Estate Market in Northwest Philadelphia
(We’re Buying Property 215, two brothers passionate about real estate born and raised in Roxborough/Manayunk. In this blog post, we explain the change in the real estate market in Northwest Philadelphia over the years. We also describe the unique style and beauty of Northwest Philadelphia, in particular Roxborough, Germantown, Manayunk, & Chestnut Hill.)
History of Roxborough Philadelphia
Roxborough is a lovely neighborhood in Philadelphia, Pennsylvania, United States. It is located northwest of the city and part of Philadelphia’s more wealthy Roxborough-Manayunk-Wynnefield section.
The Lenni-Lenape Native Americans initially settled in Roxborough. The first European settlers arrived in the area in the early 18th century. The neighborhood was initially called “Manayunk,” a Lenape word meaning “place of many falls.” Roxborough was adopted in the early 19th century, after the Roxborough Township in England.
Roxborough developed rapidly in the 19th century due to its proximity to “Philadelphia.” The area became a popular destination for German immigrants, who built many of the neighborhood’s churches and schools. Roxborough was also home to several industries, including breweries, mills, and factories.
Roxborough remained a primarily working-class neighborhood in the 20th century. The neighborhood began to attract individuals from all over the country in the late 20th century. Today, Roxborough is a diverse neighborhood with many residents from all walks of life, which embraces what the city has been built on. The neighborhood has several unique shops, various restaurants, and many bars. Roxborough has several parks and recreation areas, including the Wissahickon Valley Park and Trails.
Born and Raised in Roxborough
Growing up in Roxborough, I’ve seen firsthand the transformation of the real estate market in Northwest Philadelphia. Roxborough was discovered in 1682, initially where the wealthy individuals in the area resided while Manayunk housed the factory workers and their families. Roxborough, Germantown, Manayunk, and Chestnut Hill are unique and gorgeous; some houses resemble miniature castles.
I have seen the price transformation throughout my life, and our mother bought her first house for sixteen thousand dollars on the border of Roxborough/Manayunk. Our parents got their first joint property together around 2001 from a sheriff’s sale for sixty thousand dollars with some required work; that property is currently worth 350,000 after rehab value. I remember my neighborhood being a hard-working middle-class with deep roots in the area during childhood.
The Current Neighborhood: Roxborough/Manayunk
The faces in the neighborhood have changed over the years; the older people passed & most of the following generation moved out of the city. Most individuals currently residing in the area are young professionals and young couples just beginning their families who want to live in the city but prefer a suburban feel.
The prices of homes for sale in Manayunk and Roxborough would completely surprise my grandmother’s generation and their ancestors. A property six years ago is worth three times the value; some new construction homes are going between six hundred thousand to one million throughout the neighborhood. The numbers can’t go much higher; Roxborough is considered a top 10 part of Philadelphia. The numbers are right around their peak. If there’s any time to sell your home, it’ll be before the price declines.
If You Decide to Buy or Sell the Property in Northwest Philly
If you decide the best time to sell now, consider selling your property to “Buying Property 215.” We’re two brothers born and raised in the neighborhood. We buy houses in Philadelphia PA, regardless of the situation & within any condition. Although there are different routes for selling property, the most common method is a traditional on-market sale. Selling property on the market allows you to get about the most possible on your property, but this option can be a multiple-month process that may require house repairs or updates to meet state-issued standards.
After the property is listed and the inspections are completed, you’ll have to wait patiently for a qualified buyer to submit an offer. It’s a similar scenario when you approach the “for sale by owner” route offered for sale, and you’ll have to locate the correct qualified house buyers. When a homeowner agrees to our offer, we submit proof of funds to prove we can purchase your property. Then, when you sell to us, you avoid any fees & the 6% commission if listed with real estate agents on the market.
Process for Manayunk/Roxborough Real Estate
Our simple process typically takes up to 3 weeks to complete the transaction, although we work on a time frame best suited for the homeowner. We don’t require any inspections, and we purchase the property as-is. Once we agree on the price, we send our contract/agreement to a reputable title company to begin the search. Once we receive a clear title, the title company will set a closing date.
At closing, we will sign the completed paperwork & the homeowner will receive the funds through a wire transfer, or the title company will issue a paper check. {Buying Property 215 is accredited with an A+ rating and 5-star Google reviews!}
