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A daily look at the most significant and interesting stories affecting Philadelphia. Written by local reporters.

Axios Philadelphia Thought Bubble

Axios Philadelphia

Note: "Typical" refers to the average home value in the middle 30% of estimated home values in a region; Data: Zillow; Map: Erin Davis/Axios Visuals

Philadelphia's housing market is forecast to "soften" in 2023, but prices are likely to keep rising.

Driving the news: Prices are expected to increase in the Philly metro area anywhere between .7% and 5.7% over the next year, according to competing predictions from Zillow and Realtor.com.

Why it matters: Rising demand and limited inventory have pushed prices up in the city over the last year, and it's pushing many people out.

"The 2023 housing market could become a 'nobody's-market,' not friendly to buyers nor to sellers," Realtor.com chief economist Danielle Hale warned in a national report.

By the numbers: The city's median metro sale price was $325,000 in October, a 6.9% increase from the year prior, said real estate research firm Bright MLS.

Homes spent a median 13 days on the market, up two days from the same period last year.

Zoom in: North Philadelphia's 19133 ZIP code, which includes West Kensington, saw the city's highest jump — 3.4% — in average prices between July and October. Prices rose from around $93,665 to $96,880, per Zillow data. 

Average prices in Far Northeast's 19115 and 19114, which covers Krewstown and nearby Torresdale, rose by around 3%. 

Meanwhile, suburbs like Pennsylvania's Willow Grove and Salem, New Jersey, saw slight declines.

The rate of home price growth has been decelerating more drastically in the suburbs than in the city since 2021, Kevin Gillen, of Drexel's Lindy Institute for Urban Innovation, shared from a recent report.

Between the lines: Mortgage rate increases are contributing to a slowdown. 

After hitting a 21-year high about a month ago, the benchmark 30-year rate fell to 6.49% last week, the AP reports. The average rate was 3.11% a year ago.

Plus, new home listings in the Philadelphia metro area are about 22% lower than last October, according to Bright MLS. 

What they're saying: It's more expensive for contractors to build homes as the cost of construction materials has risen nearly 50% in the last two years, Gillen told Axios.

Yes, but: While Philadelphia's housing inventory remains low, it's up significantly since last December, suggesting a "softening market," Gillen notes.

What's ahead: Gillen expects home prices to rise on the more conservative end of the forecasts, considering that many Philly ZIP codes saw more modest growth around 1.8%-2.8% between July and October.

Where Philadelphia area home prices are rising

Philly could be seeing signs of a "softening market," one expert says.

Real estate

Philadelphia&#x27;s housing market is forecast to &quot;soften&quot; in 2023, but prices are likely to keep rising.Driving the news: Prices are expected to increase in the Philly metro area anywhere between .7% and 5.7% over the next year, according to competing predictions from <a class="gtmContentClick" data-vars-link-text="Zillow" data-vars-click-url="file:///Users/alexamencia/Downloads/GPAR_Dec2022.pdf" data-vars-item="in_content_link" href="file:///Users/alexamencia/Downloads/GPAR_Dec2022.pdf" target="_blank">Zillow</a> and <a class="gtmContentClick" data-vars-link-text="Realtor.com" data-vars-click-url="https://www.realtor.com/research/2023-national-housing-forecast/" data-vars-item="in_content_link" href="https://www.realtor.com/research/2023-national-housing-forecast/" target="_blank">Realtor.com</a>.

Real Estate

News

The Eagles are a juggernaut, but it could be all for naught if they slip up against the New York Giants this Sunday.

Why it matters: The Eagles are 11-1 for the first time in almost two decades. They'll clinch a playoff berth with a win or tie against the Giants or losses by the San Francisco 49ers and Seattle Seahawks, per the Washington Post.

Yes, but: The Eagles must keep winning to avoid having the hated Dallas Cowboys (9-3), their greatest threat in the NFC East, overtake them in the daunting divisional race.

How it works: To have a shot at the division title, the Cowboys need to win the rest of their games, including a Dec. 24 rematch with the Birds, plus the Eagles would have to lose at least one more game on top of that.

If that happened, both teams would end up with the same overall records, and the Cowboys would own a tiebreaker with a better divisional record.  

The bottom line: This is an unlikely scenario, and the Eagles remain an 80% favorite to win the division, per FiveThirtyEight.

Playoffs within the Philadelphia Eagles' reach

The Eagles are 11-1 for the first time in almost two decades.

A group of Eagles player celebrate in the end zone.

The Eagles can't celebrate too early. There's still work to be done to cllnch the NFC East. Photo:  Scott Taetsch/Getty Images)

National Football League (NFL)

The Eagles are a juggernaut, but it could be all for naught if they slip up against the New York Giants this Sunday.Why it matters: The Eagles are 11-1 for the first time in almost two decades. They&#x27;ll clinch a playoff berth with a win or tie against the Giants or losses by the San Francisco 49ers and Seattle Seahawks, per the <a class="gtmContentClick" data-vars-link-text="Washington Post" data-vars-click-url="https://www.washingtonpost.com/sports/2022/12/06/nfc-east-cowboys-giants-eagles/" data-vars-content-id="3110b514-828f-4d4d-afd4-751417a009a7" data-vars-headline="Playoffs within the Philadelphia Eagles&#x27; reach" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.washingtonpost.com/sports/2022/12/06/nfc-east-cowboys-giants-eagles/" target="_blank">Washington Post</a>.

Sports

Santa's mailroom is bustling this time of year as letters pour in from children across Philadelphia and around the world.

But luckily for St. Nick, there are some plucky elves looking to help deliver cheer this holiday. 

What's happening: The U.S. Postal Service's Operation Santa, now in its 110th year, puts heartwarming letters to Santa that the agency receives on to an online portal, and invites anyone who's moved to volunteer to help fulfill children's Christmas wishes.

The wish lists have ranged from toys and new winter coats to the cure for COVID-19, as one local child asked for last year.

Zoom in: Philadelphia is among the top five cities in the country for its Operation Santa participation, USPS spokesman Paul Smith told Axios.

More than 900 local donors have already signed up to adopt letters, Smith said.

How it works: The letters are reviewed and redacted for personal information before being posted to the USPS Santa website.

Donors who sign up receive instructions and a printable QR code that guides them on how to mail out packages. They're responsible for shipping gifts and paying postage.

Looking to reach Kris Kringle? Letters should be addressed: Santa Claus, 123 Elf Road, North Pole, 8888. 

Be sure to include your first and last name and return address, with your street, apartment number, city, state and ZIP code to ensure it reaches Santa's desk.  

Act fast! Dec. 12 is the last day to send letters and Dec. 19 is the last day to adopt one. The post office has tips and templates to follow for those who need help crafting the perfect holiday pitch.

Flashback: Postmaster Frank Hitchcock came up with the idea to allow workers and citizens to respond to Santa's letters in 1912. 

The program expanded over the decades and is now digitized. There's even a documentary about it, called "Dear Santa."

By the numbers: Nearly 25,000 letters were adopted, and 21,00 packages shipped across the U.S. last year, according to USA Today.

Philadelphians help Santa with Christmas wish lists

Wish lists have ranged from toys and new winter coats to the cure for COVID-19, as one local child asked for last year.

Illustration of a Christmas tree made from packages, complete with string lights and a glowing star.  

Christmas

Santa&#x27;s mailroom is bustling this time of year as letters pour in from children across Philadelphia and around the world.<ul><li>But luckily for St. Nick, there are some plucky elves looking to help deliver cheer this holiday. </li></ul>

Celebrate good times, come on. There's plenty to be had in the Philly area this New Year's Eve. 

Here are 13 ways to say goodbye to 2022: 

Dancing, food and lots of craft beers from multiple breweries at the Manayunk Brewery. General admission gets you three hours of open bar, appetizer stations, plus champagne. Cash bar till 8pm. Tickets: $89.95+.

Hop around dozens of Center City's hottest bars on the Philadelphia Bar Crawl from 7pm-2am. Tickets: $14.95+.

Want a Chill AF New Year's? Fat Lady Brewing in Manayunk has you covered. Sip brews and listen to music from artists including The Rob Tait Band, from 8pm-12:30am. Tickets must be purchased ahead of time and include two beers. $40.

Head back to the 80s at Rivers Casino with The Spazmatics. Tickets: $119+.

Don your best mask for the masquerade ball at the TLO Event Complex Center. Doors open at 8pm. Tickets: $20 before 10pm, $40 after 10pm. 

Enjoy a five-course meal at Forsythia. Reservations recommended. $120 per person, plus tax and gratuity.

Enjoy an elegant holiday-inspired dinner by the fireside at the Buck Hotel in Feasterville from 5-10pm before shuffling over to the tavern to dance to the sounds of DJ Vinny. No cover.

Beat the late-night crowd with an early tasting menu at Bistro Romano from 2:45-3:45 pm ($59 per person). Or head later in the night from 5-10:30pm ($99 per person).

Try out the tasting menu, champagne and dessert buffet at the Lacroix at The Rittenhouse. $195 per person.

Take the kids to the Hilton Philadelphia at Penn's Landing for food, face painting and fireworks over the Delaware River. 3pm-6pm. 201 S. Christopher Columbus Blvd. Tickets: $95 adults, includes the buffet; $45 for children.

Or enjoy two free fireworks shows along the Waterfront, 6pm-midnight. NBC10 Philadelphia and Telemundo62 will have live coverage if you can't make it in person.

Have an art-rageously good time painting, playing games and sipping sparkling cider at the Noon Year's Eve Kids Paint Party in Germantown. 6345 Germantown Avenue. Tickets: $35.

Check out the all-inclusive New Year's Eve Party at Arnold's Family Fun Center in Oaks. Unlimited go karts, arcade games, laser tag and bowling. 2200 West Dr. Tickets: $90+.

New Year's Eve events in the Philadelphia area to ring in 2023

Illustration of a champagne bottle in a gold cooler with the Axios logo.

holidays

Celebrate good times, come on. There&#x27;s plenty to be had in the Philly area this New Year&#x27;s Eve. <ul><li>Here are 13 ways to say goodbye to 2022: </li></ul>

Things to Do

It's a holiday takeover. Soak up the spirit while you can, plus other cool new offerings:

Sip on mixologist Danny Childs' creative concoctions, including a dairy-free eggnog or warmed mulled wine punch, at this bartending and botanical bonanza in the W Hotel's Secret Garden. Friday and Saturday, 4pm-8pm. Sunday noon-4pm, at 1439 Chestnut St.

Break out your best ugly sweater and saunter down to the Philadelphia Art Museum on Friday for "tours and pours" and a winter snowflakes wishes installment. $5 parking, pay what you wish entry.

Chef Hoon Rhee of Stir is teaching winter cocktail-making. $75 a person. 5-8:45pm.  

Pose for pictures with Dr. Seuss' curmudgeonly character at this 21+ event, Drink with the Grinch, offering specialty cocktails and raffle baskets. Admission free, proceeds benefit Save Me Rescue. Friday, 7pm-10pm, Craft Hall, 901 N Delaware Ave.

Learn about the life of the late Philly artist Ursula Sternberg at InLiquid's new exhibit, showcasing her work and recounting her experiences as a young girl living in Nazi-occupied Germany. Exhibit opens Saturday and runs through Jan. 21. Crane Arts Building in South Kensington, 1400 North American Street, suite 108.

Snap pictures with Krampus, St. Nick’s horned counterpart who punishes misbehaved children around the holidays. Admission is free. Saturday, 11pm-4pm, Northern Holiday Pop-up Market, North Bowl, 909 N. 2nd Street

Winterfest in King of Prussia: Take a ride out to the town center where hundreds gather for the annual celebration. There'll be an ornament workshop, face paintings, candy wonderland buffet, hot chocolate truck, followed by a new Winterfest After Dark cocktail crawl. Saturday, 1pm-4pm, 6-9pm, 155 Village Dr.

Frankford Hall-idays: You can get holiday-inspired treats like Stollen, a German bread filled with fruit, nuts and marzipan, while cozying up by fire pits. Crafts and a meet-and-greet with Santa for the kids. Frankford Hall, Sunday, Monday, noon-4pm.

Editor's note: This story has been corrected to fix the address for this weekend's Secret Garden cocktail event to 1439 Chestnut St., not 7631 Ridge Ave.

Holiday events and things to do in Philly this weekend

It&#x27;s a holiday takeover. Soak up the spirit while you can, plus other cool new offerings:Sip on mixologist <a class="gtmContentClick" data-vars-link-text="Danny Childs" data-vars-click-url="https://www.instagram.com/p/Cl2CfvLppAF/?hl=en" data-vars-content-id="f66504c0-2eb7-40e7-9e4a-d135b3fe7ca0" data-vars-headline="Holiday events and things to do in Philly this weekend" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.instagram.com/p/Cl2CfvLppAF/?hl=en" target="_blank">Danny Childs</a>&#x27; creative concoctions, including a dairy-free eggnog or warmed mulled wine punch, at this bartending and botanical bonanza in the W Hotel&#x27;s Secret Garden. Friday and Saturday, 4pm-8pm. Sunday noon-4pm, at 1439 Chestnut St.

Isaac Avilucea

Featured stories

Philadelphians help Santa with Christmas wish lists

Playoffs within the Philadelphia Eagles' reach

Holiday events and things to do in Philly this weekend

New Year's Eve events in the Philadelphia area to ring in 2023

Where Philadelphia area home prices are rising