Is Philadelphia County, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Philadelphia County was a Seller's Market.
Housing Prices in Philadelphia County, PA
How much do homes in Philadelphia County, PA cost?
Median Sold Price
$258,627
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Philadelphia County was $258,627 in April 2024, down 4.1% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275K | $275K | 0.0% |
2 Bedrooms | $269.9K | $250.6K | -7.2% |
3 Bedrooms | $249.8K | $239.7K | -4.1% |
4 Bedrooms | $354.7K | $333.3K | -6.0% |
5+ Bedrooms | $390K | $374.4K | -4.0% |
Summary: Philadelphia County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.2%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes decreased by 4%.
Median Sold Price Compared To Nearby Counties
Gloucester County | $290.6K | $318.1K | +9.5% |
Camden County | $284.9K | $310K | +8.8% |
Delaware County | $317.2K | $334.5K | +5.5% |
Montgomery County | $409.6K | $425.2K | +3.8% |
Philadelphia County | $269.7K | $258.6K | -4.1% |
Housing Supply in Philadelphia County, PA
How many homes are available in Philadelphia County, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6,110 | 6,710 | +9.8% |
Summary: The Philadelphia County real estate market had 6,710 homes for sale in April 2024, a 9.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 310 | 349 | +12.6% |
2 Bedrooms | 1,153 | 1,280 | +11.0% |
3 Bedrooms | 3,359 | 3,607 | +7.4% |
4 Bedrooms | 938 | 1,087 | +15.9% |
5+ Bedrooms | 350 | 387 | +10.6% |
Summary: The Philadelphia County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 10.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,093 | 960 | -12.2% |
Asking Price vs. Sold Price
502 Homes Were Sold
Under Asking
216 Homes Were Sold
At Asking
242 Homes Were Sold
Over Asking
Summary: A total of 960 homes were sold or pending in Philadelphia County in April 2024, down by 12.2% month-over-month. Of the 960 sold homes, 52% were sold under asking, 23% were sold at asking, and 25% were sold over asking.
Days on Market for Philadelphia County, PA
How long does it take to sell a home in Philadelphia County, PA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
51 Days | 50 Days | -2.6% |
Summary: Homes in Philadelphia County had an average of 50 days on market in Apr 2024, down by 2.6% compared to last year.
Breakdown of Home Sale Times
591 Homes Were Sold
Under 30 Days
193 Homes Were Sold
In 30 - 90 Days
176 Homes Were Sold
Over 90 Days
Summary: During April 2024, 960 homes were sold in Philadelphia County; 62% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.