As predicted, the housing market in Philadelphia has been increasingly competitive in 2022. Demand is high but the market is scarce, and these trends are reflected in housing prices.
According to Redfin.com, In February 2022, Philadelphia home prices were up 0.9% compared to last year, selling for a median price of $242K.
On average, homes in Philadelphia sell after 53 days on the market compared to 47 days last year. There were 1,281 homes sold in February this year, up from 1,273 in February of last year.