Philadelphia Real Estate Market Conditions for Philadelphia real estate market, trends in pricing, current level of supply & demand and home price value metrics.
The median list price in PHILADELPHIA, PA this week is $222,250. The 1576 properties have been on the market for an average of 167 days.
The market has settled in at a relative stasis in inventory and sales conditions. It’s a Buyer’s market that has seen prices trend lower. Expect that consistent up trends in demand will be required before price trends change significantly.
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.
This week’s bump in median price bucks the recent downward trend. The Market Action Index is a good leading indicator for whether this change establishes a trend.
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