I keep hearing about this site and how it's not really accurate...so I just went on. In the past 6 months, I pulled up all the "sales" in Fishtown. I've been involved in more than they're listing as the total amount of sales. I don't think you can use that as an accurate indicator of anything.

Sale prices ANYWHERE in Philadelphia aren't down 17% according to the Trend MLS charts that TimK posts here.

I *will* say that prices for homes under $200K have soared beyond my belief since the end of 2006...and what you get for $300K has stayed roughly the same. The high end of the market in Fishtown, which is right around $500K has deflated a bit. Maybe 5%? I mark this since I recently sold 2 Rag Flats that would have sold in 2006 for $525K-ish that sold for $500K.

And this is in REAL Fishtown--I think anything West of Frankford and North of say, Dauphin, has since a small slip in prices...and it seems the area East of Frankford and South of Lehigh has seen stagnation in the under $200K market but a modest increase over $200K.

In terms of appreciation of condos--I agree...I think Memphis will take awhile to appreciate, as will most houses. Since there are still a bulk of 1st time homebuyers on the market, if you have a house under $200K or purchase one there, you'll see the most growth in the next few years.

Because of the growth in the area of Ribbon, I think you're much likelier to see short term appreciation there. The Memphis Taproom may be a good indicator of things to come to that neighborhood--I've been 4 times now and it's always been packed and most of the people are coming up from Fishtown, whereas many of these people simply did NOT want to be shown houses in this neighborhood because it wasn't Fishtown.

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Resident of Fishtown, Moderator of Fish/No. Libs/Kenzo forum, Real Estate Agent-Prudential Fox & Roach