The Philadelphia housing market is somewhat competitive. Homes in Philadelphia receive 3 offers on average and sell in around 45 days. The median sale price of a home in Philadelphia was $265K last month, up 6.0% since last year. The median sale price per square foot in Philadelphia is $200, up 3.6% since last year.
What is the housing market like in Philadelphia today?
In April 2024, Philadelphia home prices were up 6.0% compared to last year, selling for a median price of $265K. On average, homes in Philadelphia sell after 45 days on the market compared to 48 days last year. There were 1,294 homes sold in April this year, up from 1,270 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$265,000
+6.0% YoY | Apr 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Apr 2024
Growth
% YoY
Philadelphia, PA
$265,000
+6.0%
United States
To compare other locations to the Philadelphia and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Philadelphia's median sale price is 39% lower than the national average. Overall cost of living in Philadelphia is 2% higher than the national average. Learn which home features in Philadelphia add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Philadelphia housing market?
Philadelphia is somewhat competitive. Homes sell in 45 days.
0
100
47
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 2% below list price and go pending in around 45 days.
Hot homes
can sell for about 1% above list price and go pending in around 18 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Philadelphia
Explore recent offers and recently sold homes in Philadelphia
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Philadelphia housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Philadelphia.
Risk Factor
Flood Factor - Major
32% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Philadelphia has a major risk of flooding. 112,763 properties in Philadelphia are likely to be
severely affected
by flooding over the next 30 years. This represents 32% of all properties in Philadelphia. Flood risk is increasing slower than the national average.
3% of properties are at risk of wildfire over the next 30 years
Fire Factor
Philadelphia has a moderate risk of wildfire. There are 18,190 properties in Philadelphia that have some risk of being affected by wildfire over the next 30 years. This represents 3% of all properties in Philadelphia.
100% of properties are at major
risk of a severe wind event over the next 30 years
Wind Factor
Philadelphia has a Major Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Philadelphia is most at risk from hurricanes. 547,254 properties in Philadelphia have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 100 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 113 mph.