Philadelphia Housing Market Update: July 2025

The Philadelphia market is moving fast, and whether you’re buying, selling, or just keeping an eye on your neighborhood, understanding the numbers can help you make smarter decisions.

Philadelphia is known as the city of neighborhoods, each with its own unique vibe, architecture, and market trends. The data below reflects the city as a whole, but keep in mind that conditions can vary widely from block to block. Whether you’re looking in Fishtown, Chestnut Hill, or South Philly, your neighborhood’s story may be quite different from the citywide averages.

A Seller’s Market with High Demand

Philadelphia is sitting at 2.97 months of inventory, which means more buyers are looking than there are homes available. For sellers, this creates a competitive environment where well-priced homes attract multiple offers. For buyers, it means moving quickly and being prepared to compete.

Inventory Trends: A Mixed Picture

Over the past month, inventory dipped by 2%, tightening the market even further in the short term. Over the past year, though, we’ve seen a 7% increase... a sign that supply is slowly improving. Still, we’re not at a balance point yet, so sellers continue to hold the advantage.

Pricing Power Favors Sellers

Homes are selling for an average of 98% of their asking price. That’s great news for sellers, as it means most are achieving close to their list price. For buyers, it’s a reminder that lowball offers aren’t likely to win in this market, aligning your offer with market value is key.

Speed is Everything

With a median days on market of just 9 days, homes are moving fast. Sellers can expect shorter timelines from listing to closing. Buyers should have their financing ready and be prepared to make confident decisions quickly.

Current Median Price

The median sold price in Philadelphia is $395,000. This sets a useful benchmark for both sides. Sellers can position their pricing competitively, and buyers can better plan their budgets.

Bottom Line

The Philadelphia housing market remains strong and competitive, especially for well-maintained, well-priced homes. But remember, real estate in Philly is hyper-local. The best strategy for you will depend on your specific neighborhood, property type, and goals.

Thinking about making a move?

Let’s talk about your area’s trends and create a strategy that works for today’s market.

Market date and statistics sourced from RPR (Realtors Property Resource), July 2025.