RealTrends Market Report

Philadelphia, PA

Single-Family Homes

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Philadelphia, PA

Mon Jun 24 2024
This week the median list price for Philadelphia, PA is $275,000 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has held steady at or around 2,498. Click here to stay informed with the Philadelphia market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Philadelphia, PA

Mon Jun 24 2024
This week the median list price for Philadelphia, PA is $275,000 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has held steady at or around 2,498. Click here to stay informed with the Philadelphia market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Philadelphia market.
Median List Price $275,000
Median Price of New Listings $279,999
Per Square Foot $211
Average Days on Market 120
Median Days on Market 63
Price Decreased 46%
Price Increased 2%
Relisted 7%
Inventory 2,498
Median Rent
Market Action 37
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$650,000 2,445 0 - 4,500 sqft 4 3 58 59 60 63
$344,950 1,408 0 - 4,500 sqft 3 2 101 61 47 56
$225,000 1,120 0 - 4,500 sqft 3 2 99 55 59 63
$125,000 1,054 0 - 4,500 sqft 3 1 99 58 77 84