$2,909 Closing Credit*
$245,000
1,488 SqFt
4 Beds
•2 Full Baths, 1 Partial
Aneury Antonio Rodriguez, Listing Office: Keller Williams Real Estate Tri-County
Is Philadelphia, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Philadelphia was a Seller's Market.
Key Takeaway
Philadelphia is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Philadelphia, PA
How much do homes in Philadelphia, PA cost?
Median Sold Price
$261,807
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$1,761(+0.7%)
Key Takeaway
Homes in Philadelphia have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in Philadelphia was $261,807 in October 2024, up 0.7% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $273.6K | $270.3K | -1.2% |
| 2 Bedrooms | $259.7K | $262.3K | +1.0% |
| 3 Bedrooms | $240.2K | $240K | -0.1% |
| 4 Bedrooms | $339.4K | $335K | -1.3% |
| 5+ Bedrooms | $374K | $413.7K | +10.6% |
Summary: Philadelphia housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 1%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes increased by 10.6%.
Median Sold Price Compared To Nearby Cities
| Camden | $105.5K | $135K | +28.0% |
| Cheltenham Township | $375K | $425K | +13.3% |
| Upper Darby | $179.9K | $190K | +5.6% |
| Philadelphia | $260K | $261.8K | +0.7% |
Housing Supply in Philadelphia, PA
How many homes are available in Philadelphia, PA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6,297 | 6,913 | +9.8% |
Summary: The Philadelphia real estate market had 6,913 homes for sale in October 2024, a 9.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 284 | 319 | +12.3% |
| 2 Bedrooms | 1,143 | 1,246 | +9.0% |
| 3 Bedrooms | 3,517 | 3,831 | +8.9% |
| 4 Bedrooms | 965 | 1,079 | +11.8% |
| 5+ Bedrooms | 388 | 438 | +12.9% |
Summary: The Philadelphia housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 9%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 12.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,062 | 1,056 | -0.6% |
Asking Price vs. Sold Price
567 Homes Were Sold
Under Asking
237 Homes Were Sold
At Asking
252 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Philadelphia, you may be able to get a good deal. 53.7% of homes here sold below asking price last month.
Summary: A total of 1,056 homes were sold or pending in Philadelphia in October 2024, down by 0.6% month-over-month. Of the 1,056 sold homes, 54% were sold under asking, 22% were sold at asking, and 24% were sold over asking.
Days on Market for Philadelphia, PA
How long does it take to sell a home in Philadelphia, PA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 44 Days | +1.8% |
Summary: Homes in Philadelphia had an average of 44 days on market in Oct 2024, up by 1.8% compared to last year.
Breakdown of Home Sale Times
622 Homes Were Sold
Under 30 Days
274 Homes Were Sold
In 30 - 90 Days
160 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Philadelphia are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1056 homes were sold in Philadelphia; 59% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
