The Philadelphia metro just made headlines—leading the nation with the highest year-over-year increase in home sale prices, according to a recent report by Redfin. With a 13.8% jump in median sale price, Philly now outpaces hot markets like Miami and Pittsburgh.
As of May, the median home price in the Philadelphia metro is $317,000, up from $276,000 just one year ago. This growth underscores the region's strength and appeal, especially as other metros begin to plateau or even dip.
At the same time, national inventory is building. Listings are up 8.4% year-over-year, and pending sales are at their lowest since 2015. Mortgage applications continue to fall, and buyers are becoming more selective—especially at higher price points.
Yet in a luxury-driven market like the Main Line, Chestnut Hill, or Society Hill, opportunities still exist for buyers and sellers alike.
For sellers, this may be the moment to act. With home prices at record highs and competition beginning to rise, listing your home now could maximize your return—before pricing shifts further.
For buyers, the economic uncertainty may play in your favor. More listings mean more room to negotiate—and potential access to homes once considered out of reach.
At Sean Elstone Real Estate, we specialize in navigating dynamic markets like this one. Whether you’re ready to list or want expert advice before you do, we’re here to provide clarity and strategy.
Let’s talk today—because the best time to plan your move is before the market decides for you.
