Is Philadelphia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2021
At the same time last year, Philadelphia was a Seller's Market.
Key Takeaway
Philadelphia is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
How much do homes in Philadelphia, PA cost?
Median Sold Price
$274,972
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2021
Key Takeaway
The sold price of homes in Philadelphia has remained the same since last year.
Median Sold Price By Bedroom Count
| # BEDS | Dec 2021 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | $277.6K | $280K | +0.9% |
| 2 Bedrooms | $280.5K | $274.9K | -2.0% |
| 3 Bedrooms | $260K | $257.7K | -0.9% |
| 4 Bedrooms | $358.8K | $350.6K | -2.3% |
| 5+ Bedrooms | $445K | $389.2K | -12.5% |
Median Sold Price Compared To Nearby Cities
| Upper Darby | $154.9K | $175K | +13.0% |
| Cheltenham Township | $343.2K | $355.3K | +3.5% |
| Philadelphia | $276.2K | $274.9K | -0.5% |
How many homes are available in Philadelphia, PA?
Number of Homes For Sale
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 9,458 | 9,175 | -3.0% |
Homes For Sale By Bedroom Count
| # BEDS | Nov 2022 | Dec 2022 | % |
|---|---|---|---|
| 1 Bedroom | 364 | 357 | -1.9% |
| 2 Bedrooms | 1,578 | 1,535 | -2.7% |
| 3 Bedrooms | 5,583 | 5,380 | -3.6% |
| 4 Bedrooms | 1,380 | 1,351 | -2.1% |
| 5+ Bedrooms | 553 | 552 | -0.2% |
Number of Homes Sold
| Nov 2022 | Dec 2022 | % |
|---|---|---|
| 1,002 | 895 | -10.7% |
Asking Price vs. Sold Price
528 Homes Were Sold
Under Asking
215 Homes Were Sold
At Asking
152 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Philadelphia, you may be able to get a good deal. 59% of homes here sold below asking price last month.
Average Sale Time
| Dec 2021 | Dec 2022 | % |
|---|---|---|
| 36 Days | 46 Days | +28.4% |
Breakdown of Home Sale Times
466 Homes Were Sold
Under 30 Days
288 Homes Were Sold
In 30 - 90 Days
141 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Philadelphia are selling fast, if you're buying plan to act quickly.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.