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Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
The median asking price in Philadelphia is about $251,000 as of Sep 2026, down 8.3% from a year ago. That is the asking price on listed homes, so sold-price and home-value sites show different numbers (why).
Only on the right house. Neither side has the upper hand in Philadelphia right now. The signals split. Compared with 2017–2019 at this time of year, there are 32 pending sales per 100 listings, against 23 then, but there are 18% more homes for sale. The market will not hand you a discount. You have to find it in one specific listing.
Asking price per square foot in Philadelphia is 16.4% below its Oct 2020 high and down 6.5% over the last year. Prices were above the year before in 61% of months since the data starts, so drops here have not always reversed quickly. 21% of sellers have cut their price. Underwrite with no price growth for now and let the seller carry the next cut.
The median asking price is 23.2% below its Oct 2020 peak. Per square foot the gap is smaller: 16.4% below the Oct 2020 high. Part of the drop is smaller homes coming to market. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Philadelphia prices rose in only 68 of the last 111 months. This market goes up and down. Timing matters here. Growth will not rescue a bad price.
This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.
Ranked among the 11 Pennsylvania markets we track:
For every 100 homes still for sale, 32 are under contract. In 2017–2019 at this time of year it was 23. The rest are still waiting for a buyer. About 1 in 5 sellers has already dropped their price. Each one has learned their first price was too high. Start your offer below their new price.
Philadelphia listings spend a median 67 days on the market. There are 5,146 homes for sale in Philadelphia. That is the most in ten years. It is 2 times the low of Feb 2022. Every one of them competes with the house you want.
In Philadelphia, 49 out of every 100 households rent. That is nearly half. The renter share is growing. Five years ago it was 48 in 100. Philadelphia added about 44,000 renter households in five years. Renter households average 2.0 people. Singles and couples rent here. Two bedrooms beat four.
Households grew 13% in five years. The housing stock grew 9%. Demand is outrunning supply. 9.5% of homes sit empty. That is normal for a healthy market.
The median Philadelphia household earns $64,911 a year. Incomes here have grown 6.0% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 3.9 times the median income. Locals can afford to buy here. Your exit buyer can be a local family. At 30% of income, a tenant on the median income can pay about $1,623 a month.
To see what one Philadelphia address would rent for and cash flow, run it through the app.
Read how price cuts signal a market turning and how we read these numbers, then run the numbers on a deal.
The median asking price in Philadelphia is about $251,000 as of Sep 2026, down 8.3% from a year ago. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Philadelphia figures cover 50 of the 59 ZIP codes with a Philadelphia mailing address, so citywide counts such as homes for sale run low.
Neither side has the upper hand in Philadelphia right now. We compare Philadelphia with 2017–2019 at this time of year: there are 32 pending sales per 100 listings, against 23 then; there are 18% more homes for sale; listings spend 17% more days on the market.
The median asking price is 23.2% below its Oct 2020 peak. Per square foot the gap is smaller: 16.4% below the Oct 2020 high. Part of the drop is smaller homes coming to market. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.
19134. Only 15 homes under contract for every 100 still for sale. 24% of sellers there have cut their price, and listings there spend a median 108 days on the market.
Across 9 full years, Philadelphia asking prices ran lowest in January, about 6.7% below the year's average. They peaked in October. The most homes for sale show up in October, about 12% above the yearly average.
Assume -1.9% a year. Philadelphia grew 3.2% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Philadelphia loses about 1.9% a year. That is the number to type in. Prices fell 6.5% over the last year. Use it for timing. The five-year rate is the better guide.
HUD's fiscal year 2026 fair market rent for Philadelphia County is $1,810 a month for 2 bedrooms and $2,170 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.
No ZIP is on both lists. In Philadelphia you pick leverage or growth. You cannot have both.
| ZIP | $/sqft, 2 yrs | $/sqft now | Buyers per home | For sale |
|---|---|---|---|---|
| 19102 | +19.3% | $507 | 0.26 | 58 |
| 19140 | +10.0% | $117 | 0.35 | 139 |
| 19141 | +9.0% | $148 | 0.28 | 80 |
| 19131 | +8.8% | $155 | 0.29 | 138 |
| 19114 | +7.6% | $240 | 0.97 | 47 |
Computed from each ZIP's own ten-year history. ZIPs with fewer than 10 homes for sale are excluded: a median across a handful of listings is noise, not a signal.
Philadelphia has 59 ZIP codes. Each links to its live market dashboard.
Closest matches on asking price, price per square foot, time on market, buyer demand, and price cuts.
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