Philadelphia Metro Real Estate Market Update: November 2025

Source:
Data summarized from the November 2025 Philadelphia Metro Housing Market Report prepared by Bright MLS Research. Philadelphia Metro: https://www.brightmls.com/marketreports

The Philadelphia metro housing market showed clear signs of slowing in November 2025, even as mortgage rates dropped to their lowest levels in more than a year. Both buyers and sellers appear cautious as affordability continues to limit activity heading into 2026.

A total of 4,754 homes closed in November, reflecting a 3.9 percent decline year over year. New pending sales also slipped by 2.3 percent, while new listings fell 6.2 percent, signaling hesitation on both sides of the market.

Despite slower sales, home prices remained resilient. The median sale price across the Philadelphia metro rose to $390,000, up 3.4 percent from last year. At the same time, median days on market increased to 17 days, three days longer than in November 2024, showing that homes are taking slightly longer to sell.

Inventory and Supply Trends

Housing inventory continued to rise. At the end of November, there were 11,685 active listings, an increase of 7.8 percent year over year. Months of supply climbed to 2.16 months, up slightly from last year, indicating a gradual shift toward a more balanced market. While still favoring sellers overall, buyers now have more options than they did earlier in the cycle.

Buyer and Seller Activity

Even with lower mortgage rates, affordability remains one of the biggest challenges in the Philadelphia housing market. Buyer showings declined by 3.1 percent year over year, confirming reduced activity. Sellers are also holding back, waiting for improved certainty around rates and the economy.

Property Type Trends

• Detached single-family homes posted a median price of $465,000, up 3.3 percent, with homes selling in a median of 15 days.

• Townhomes and attached properties recorded a median price of $315,000, up 5.4 percent, with a 20-day median time-to-market.

• Condos also reached a median price of $315,000, up 8.4 percent, but took longer to sell at a 24-day median.

Condos and townhomes are showing the most signs of cooling, while detached homes remain the strongest segment of the market.

Market Outlook for 2026

Through November, total 2025 sales are tracking just 0.7 percent above 2024 levels. With pending sales now declining, overall 2025 sales are expected to finish close to last year's. Looking ahead, lower mortgage rates and softer pricing in 2026 could encourage more buyers and sellers to re-enter the market.

Professional Insight

The Philadelphia metro market is no longer overheated, but it remains fundamentally strong. Sellers must be precise with pricing, and buyers who are prepared and strategic can find real opportunities. Proper pricing, presentation, and negotiation now matter more than ever in today’s evolving real estate market.