PHILADELPHIA METRO HOUSING MARKET DATA

There was an increase in total units sold in March, with 4,008 sold this month in Philadelphia Metro Real Estate versus 3,382 last month, an increase of 19%. This month's total units sold was lower than at this time last year, a decrease of 7% versus March 2024.

Versus last year, the total number of homes available this month is lower by 587 units or 6%. The total number of active inventory this March was 9,055 compared to 9,642 in March 2024. This month's total of 9,055 is lower than the previous month's total supply of available inventory of 9,649, a decrease of 6%.

Last March, the median sale price for Philadelphia Metro Homes was $370,000. This March, the median sale price was $395,000, an increase of 7% or $25,000 compared to last year. The current median sold price is 3% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In March, there was 2.3 months of supply available in Philadelphia Metro. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 6,632 homes newly listed for sale in Philadelphia Metro compared to 6,786 in March 2024, a decrease of 2%. There were 5,865 current contracts pending sale this March compared to 5,456 a year ago. The number of current contracts is 7% higher than last March.

In March, the average sale price in Philadelphia Metro was 100.4% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 35, higher than the average last year, which was 32, an increase of 9%.





FOCUS ON: PHILADELPHIA METRO HOUSING MARKET			MARCH 2025

Units Sold 4,008	Active Inventory 9,055	Median Sale Price $395,000	Days On Market 35

Down -7% Vs. Year Ago	Down -6% Vs. Year Ago	Up 7% Vs. Year Ago	Up 9% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 4,008 sold this month in Philadelphia Metro Real Estate versus 3,382 last month, an increase of 19%. This month's total units sold was lower than at this time last year, a decrease of 7% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 587 units or 6%. The total number of active inventory this March was 9,055 compared to 9,642 in March 2024. This month's total of 9,055 is lower than the previous month's total supply of available inventory of 9,649, a decrease of 6%.
		Median Sale Price Last March, the median sale price for Philadelphia Metro Homes was $370,000. This March, the median sale price was $395,000, an increase of 7% or $25,000 compared to last year. The current median sold price is 3% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 6,632	Current Contracts 5,865	Sold Vs. List Price 100.4%	Months of Supply 2.3

Down -2% Vs. Year Ago	Up 7% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In March, there was 2.3 months of supply available in Philadelphia Metro. The amount of supply is similar compared to a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 6,632 homes newly listed for sale in Philadelphia Metro compared to 6,786 in March 2024, a decrease of 2%. There were 5,865 current contracts pending sale this March compared to 5,456 a year ago. The number of current contracts is 7% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Philadelphia Metro was 100.4% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 35, higher than the average last year, which was 32, an increase of 9%.


	*Defined as the counties of Berks, Bucks, Chester, Delaware, Lehigh, Montgomery, Northampton, and Philadelphia in PA
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by GLVR/BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of GLVR/BRIGHTMLS or Long & Foster Real Estate, Inc.