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PHILADELPHIA REAL ESTATE
Real Estimate your home’s value
Your home’s value depends on hyper-local factors that national tools often miss.
$1,640,100
ALGORITHM ESTIMATE
- Algorithm-based estimate
- No property walk-through
- Limited hyper-local nuance
- No pricing strategy
$1,625,094
DATA-DRIVEN ONLY
- Data-driven only
- Market lag in updates
- No expert negotiation insight
- No local positioning strategy
- Most Accurate Pricing
$2,750,900
Local EXPERT STRATEGY
- Real Local Market Experts
- Hyper-Local Data
- In-Person Property Assessment
- Strategic Pricing Positioning
- Real-Time Buyer Demand Signals
Algorithms estimate. We strategize.
PHILADELPHIA REAL ESTATE
Center City Market Snapshot
Comprehensive residential sales data covering active listings, pending contracts, and closed transactions across Center City Philadelphia over the last 28 months. Your specific home’s value depends on many factors such as finishes, layout, floor level, parking, outdoor space, and price comparable sales near you.
Coverage Area
Center City Philadelphia
9 zip codes · 26,990 residential listings · Jan 2020 – Jul 2026
Listings
of dataset
Listing Volume by Zip Code
FewerMore
Showing: Last 12 Months · 3,310 closed sales
Time period:
Updates the market data and charts throughout this page
$460,000
Median Closed Sales Price
97.3%
Median List-to-Sale Ratio
28 days
Avg. Days On Market
27 days
Median DOM Closed Listings
66%
Homes Closed Below List Price
7.9%
YoY Price Growth
MARKET DATA
Explore the Numbers
Reflects the time period selected in Center City Market Snapshot above
Active Listings
$452,450
Median DOM: 62 days
1,536 listings
$/sqft: $349
Under Contract
$510,000
Median DOM: 29 days
581 listings
$/sqft: $365
Closed Sales
$460,000
Median DOM: 27 days
3,310 sales
$/sqft sold: $336
Median Price Comparison
Active · Pending · Closed
Last 12 months · 3,310 closed sales
Median Price Per Square Foot
List Price vs. Sold Price / sqft
Last 12 months
Median Days on Market by Status
How Fast Are Homes Moving?
DOM Distribution
Closed Listings — Speed Breakdown
Based on 3,310 closed transactions · Last 12 months
Reflects the time period selected in Center City Market Snapshot above
Avg. % Below List
−2.57%
Average discount from original list price
Avg. Dollar Difference
−$20,188
Average seller concession at closing
Median List-to-Sale Ratio
97.3%
Sellers achieve 97.3 cents on the dollar
Monthly List-to-Sale Ratio Trend
How Negotiating Power Has Shifted — Jan 2020 to Jul 2026
Ratio above 100% = sold above list. Below 100% = sold below list. Jan 2020 – Jul 2026.
Buyer vs. Seller Power
How Homes Closed vs. List Price
Sold Below List (66%)
Sold At or Above List (34%)
What This Means for You
Seller’s Takeaway
-
Price close to market valueHomes priced accurately sell for 97–99% of list in under 30 days.
-
66% sold below original listOverpricing leads to DOM creep and bigger eventual discounts.
-
Pending homes moved fastContracts went pending in a median of 29 days — buyer demand is real.
Trend Analysis · Jan 2020 – Jul 2026
Closed Sale Price & Days on Market
* Jul 2026 is partial — data through July 15. Apr 2022 reached 100% L2S — sellers received full asking price on average.
Ownership Type
Condominiums
8,463 listings · 7,701 closed · 592 active
Median List Price
$395,000
Median Sold Price
$385,000
−2.5% from list
List Price / sqft
$380
Sold Price / sqft
$367
−3.4% from list rate
Ownership Type
Fee Simple (Townhomes)
17,835 listings · 16,544 closed · 903 active
Median List Price
$479,000
Median Sold Price
$470,000
−1.9% from list
List Price / sqft
$307
Sold Price / sqft
$300
−2.2% from list rate
May · Jun
Best months to list — 6yr avg
+9.6%
Spring premium vs. Jan–Feb avg
17 days
Median DOM in peak season (Jun)
Seasonal Price Pattern
Median Sale Price by Month ▲ Peak: May–Jun
Based on 24,873 closed sales · Jan 2020 – Jul 2026 · 6 full years of data.
Seasonal Speed Pattern
Median Days on Market by Month ▲ Slowest: Feb
6 years of data smooths out year-to-year variance for a reliable seasonal signal.
Full Seasonal Breakdown
Average Performance by Calendar Month — 2020 to 2026
| Month | Median Price | Median DOM | L2S Ratio | Avg Closed Sales |
|---|
Overall Market
5.4 mo
Balanced Market
1,536 active listings ÷ 286 avg. monthly closings
Condominiums
6.7 mo
Buyer’s Market
592 active ÷ 89 avg. monthly closings
Fee Simple (Townhomes)
4.8 mo
Balanced Market
903 active ÷ 187 avg. monthly closings
Absorption Rate Visualized
Months of Supply — Overall vs. Property Type
Seller’s Market
< 4 mo
Low inventory, upward price pressure, faster sales
Balanced Market
4 – 6 mo
Roughly equal supply and demand, stable prices
Buyer’s Market
> 6 mo
Excess supply, downward price pressure, longer DOM
Active listings (all)1,536
Avg. monthly closed sales (last 6 months)286
Months of supply — Condominiums6.7 months
Months of supply — Fee Simple4.8 months
Months of supply — Overall5.4 months
Absorption rate = active listings ÷ avg. monthly closed sales. Based on last 6 full months of data (Jan–Jun 2026).
Median Sale Price by Neighborhood
Top 12 Neighborhoods Ranked
Speed vs. Price — Neighborhood Comparison
Median DOM by Neighborhood
Full Neighborhood Data
Center City Philadelphia — All Submarkets
| Neighborhood | Median Price | Median DOM | L2S Ratio | Avg Negotiate | Sales | Price Trend |
|---|
Neighborhoods with fewer than 50 closed sales excluded. Data: Jan 2020 – Jul 2026.
$/sqft Premium
+$58
Per square foot — homes with garage vs. without
Garage Availability
21.4%
Of closed sales included garage parking
Median Price Gap
+$274K
Raw median difference (reflects larger home sizes)
Price Per Square Foot
Parking vs. No Parking — $/sqft
$/sqft normalizes for home size. Based on 24,873 closed sales.
Key Takeaways
What Parking Means for Sellers
-
$66/sqft size-adjusted premium After controlling for home size, garage parking adds real per-square-foot value — not just because garage homes are larger.
-
Only 1 in 4 Center City sales include a garage Scarcity drives value. Homes with deeded parking consistently attract stronger offers and broader buyer pools.
-
Naval Square and Logan Square lead on garage availability 65%+ of sales in those neighborhoods include parking — vs. just 11% in Fishtown where the premium is most dramatic.
Neighborhood Breakdown
Garage Sales & Parking Premium by Neighborhood
| Neighborhood | Garage Sales | % With Garage | Median W/ Garage | Median W/O Garage | $/sqft Premium | Availability |
|---|
Neighborhoods with 50+ closed sales. Sorted by number of garage sales. Jan 2020 – Jul 2026.
New Construction Premium
+41.7%
New construction vs. existing home median prices
Market Share
9.7%
Of all Center City closed sales were new construction
List-to-Sale Ratio
98.7%
Builders hold firm — vs. 96.6% for existing homes
New Construction vs. Existing
Key Metrics Compared
New — Price$755K
Existing$440K
New — L2S98.7%
Existing96.6%
New — $/sqft$340
Existing$335
New — DOM35 days
Existing26 days
Based on 633 new construction and 7,206 existing home sales. Jan 2020 – Jul 2026.
Key Takeaways
What New Construction Tells Us
-
Fishtown leads with 123 new construction sales The most active new construction neighborhood — with a $210K premium over existing homes at $599K median.
-
Rittenhouse commands $2.7M for new construction The highest new construction median in Center City — nearly 6x the existing home median in the same neighborhood.
-
Spring Garden is 25% new construction The highest new construction market share of any neighborhood — 1 in 4 sales is a new build, reshaping the area’s price floor rapidly.
Neighborhood Breakdown
New Construction Activity by Neighborhood
| Neighborhood | New Sales | % of Market | New Median | Existing Median | Premium |
|---|
Neighborhoods with 50+ closed sales. Sorted by new construction sales volume. Jan 2020 – Jul 2026.
Cash Sales
25.6%
Of all Center City closed sales were all-cash
Conventional Financing
67.8%
Of closed sales used conventional financing
Cash Negotiating Power
96.0%
L2S for cash buyers vs. 97.8% conventional
Financing Breakdown
How Center City Buyers Pay
Based on 24,873 closed sales. Jan 2020 – Jul 2026.
Key Takeaways
What This Means for Sellers
-
Avenue of the Arts is 68% cash The most cash-heavy neighborhood in Center City — investor and downsizer activity drives an unusually high all-cash rate.
-
Cash buyers negotiate harder, not faster Cash closes at 96.0% L2S vs. 97.8% for conventional. Cash leverage is used on price, not speed — nearly identical DOM.
-
Conventional buyers yield better net proceeds Despite mortgage contingency complexity, financed buyers deliver stronger returns for sellers at 97.8% L2S.
Neighborhood Breakdown
Cash Sale Rate by Neighborhood
| Neighborhood | Cash Sales | % Cash | Cash Median | Financed Median | Cash L2S | Financed L2S |
|---|
Neighborhoods with 50+ closed sales, sorted by cash sale rate. Jan 2020 – Jul 2026.
+25.3%
Price Growth
2020 → 2026 peak
24,873
Total Closed Sales
Jan 2020 – Jul 2026
Jun ’21
Peak Volume Month
675 closings in one month
Jun ’26
All-Time Price Record
$520,000 median closed
Annual Median Sale Price
6-Year Price Trend
2026 is partial year (Jan – Jul 15). Based on 24,873 closed sales.
Annual Closed Sales Volume
Market Activity by Year
2021 was peak year — 5,131 closings. 2026 partial year pace projects ~2,800.
Year-over-Year Comparison
Annual Market Summary
| Year | Median Price | DOM | L2S | $/sqft | Sales |
|---|---|---|---|---|---|
| 2020 | $415,000 | 29d | 97.1% | $299 | 3,955 |
| 2021 | $435,000 | 24d | 97.6% | $315 | 5,131 Peak Vol |
| 2022 | $446,450 | 23d | 97.9% | $327 | 4,234 Peak Price |
| 2023 | $426,500 | 27d | 97.1% | $324 | 3,317 Correction |
| 2024 | $450,000 | 28d | 97.0% | $331 | 3,262 Recovery |
| 2025 | $450,000 | 28d | 97.1% | $333 | 3,139 |
| 2026* | $480,000 | 24d | 97.8% | $343 | 1,753 ↑ Trending |
* 2026 through July 15 only.
Market Milestones
Key Events — 2020 to 2026
Apr ’20
COVID Demand Dip
Closings dropped to 273/month — the slowest pace of the entire dataset. Price held at $419K.
Jun ’21
Peak Volume — 675 Closings
The busiest single month in 6.5 years. Pent-up demand, low rates, and limited inventory drove record transactions.
Apr ’22
Sellers Hit 100% L2S Ratio
April 2022 median L2S reached 100% — sellers received exactly asking price on average. The market’s peak negotiating leverage moment.
Feb ’23
Rate Shock Slowdown
DOM hit 82 days and L2S fell to 95.3% — the sharpest buyer’s market conditions since early 2020.
Jun ’26
All-Time Price Record
$520,000 median closed price — the highest single month in the dataset. 439 closings at 98.2% L2S.
HOW IT WORKS
How Can I Get an Accurate Free Estimate?
With over 40 years of combined experience, our team of real estate agents in Philadelphia has the network and expertise to get your property noticed. On average, our listings go under contract within the first two weeks on the market. We handle everything from start to finish—pricing, marketing, negotiations, and paperwork—so you don’t have to worry.
STEP 01
Initial Consultation
We meet to understand your goals and timeline. We don’t just list; we plan. We’ll discuss the selling process and answer any questions you have. We want to understand your specific needs then build a road-map that align with your goals and your timeline.
STEP 02
Market Analysis
Our team performs a deep dive into local market trends to price your home competitively and maximize your return. We provide expert insight on local trends, buyer & showing activity, ROI-based home improvements, and competitive pricing strategy.
STEP 03
Market Strategy
We deploy a custom marketing plan that aligns with your specific goals and your preferred timeline to create maximum exposure. We will discuss professional photos, videos, broker incentives to targeted social media that ensures your First Open House is packed.
COMMON QUESTIONS
Frequently Asked Questions
Navigating the Philadelphia real estate market can be complex. Philadelphia home values vary block by block. With the guidance of experienced professionals, you can make the most informed decisions and save more money.
Yes, but For Sale By Owner homes in Philly sell for far less than those listed with professional Philadelphia real estate agents. Realtors have fiduciary duty to their clients, protect your asset from risk & liability, handle pricing strategy, marketing, negotiations, and paperwork to get you top value.
Expect agent commission, closing costs, and possible repair or staging expenses. A Philadelphia real estate agent can give you a full breakdown before listing.
Philadelphia’s 10-year tax abatement program has a dramatic effect on buyer demand. Properties with years remaining may command measurably higher prices.
Condo or HOA fee structures, building amenities, and assessment history all affect net buyer purchasing power – and therefore your effective sales price.
On average, homes spend about 85-88 days on the market, but this depends on price, neighborhood, and demand.
Many websites offer free tools like Zillow, Redfin, and Realtor.com, but these can miss hyper-local factors that affect your home prices near you. Our AI-powered, local analysis gives the most accurate home value estimator.
You can start with online tools, but for a truly accurate, no-obligation estimate, speak with a real estate agent in Philadelphia who knows the local market trends.
Yes! Selling quickly depends on pricing, condition, and exposure. For detailed guidance, check out our article How do I sell my home fast in Philadelphia? for expert tips from local real estate brokers, including step-by-step strategies, staging advice, and neighborhood-specific insights.
Talk to A Local Expert
A local Philadelphia Realtor® will review your home info and provide a free, no-obligation estimate. Know exactly what your home is worth and make informed decisions.
CLIENT SUCCESS STORIES
210+ Five-Star Google Reviews
Real clients. Real results. See why Philadelphia homeowners and buyers trust Venture Philly Group.
EP
Erika Pranzo
March 2026
Google
"Seamless process from start to finish. In a time where condos were dropping prices, we received 3 competitive offers. Highly recommend!"
Verified Google Review
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Rachel Navarra
February 2026
Google
"Thanks to Ari, his insights helped me save $60,000 in savings and equity. I used to be a tenant in the very triplex I now own!"
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Amy Goldstein
January 2026
Google
"Jenna went above and beyond. She pointed out issues I wouldn't have noticed. It was clear she genuinely cared about finding the right house, not just making a sale."
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Zach Carduner
November 2025
Google
"Scott found our house before it even hit Zillow — that head start was huge. Patient with every question, no matter how last-minute the tour request."
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Samerah Moment
October 2025
Google
"Terrell truly listened to every concern. As a first-time homebuyer I was terrified, but he made me feel comfortable and confident the whole way through."
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Helpful 14MS
Monil Shah
September 2025
Google
"As first-time homebuyers we had so many questions. Scott was patient, knowledgeable, and had excellent communication. Truly a wonderful experience!"
Verified Google Review
Helpful 7
Seamless process from start to finish!! I worked with Scott Sepkowitz to sell my condo and he made it so much easier than expected. He was available to contact at almost any time to answer my questions and was very quick with getting things moving. In a time where condos were dropping their prices, we ended up receiving 3 competitive offers. Highly recommend!!
Erika Pranzo
Homebuyer
I’m a home owner! Thanks to Ari, the whole process went incredibly smoothly. Not only did he navigate the deal seamlessly, but Ari’s insights also helped me save $60,000 in both savings and equity. I used to be a tenant in the very triplex I now own, and Ari made it possible for me to buy both the building and the parking lot behind it!
Rachel Navarra
Homebuyer
I had an amazing experience working with Jenna Ferreri on the purchase of my home! From start to finish, she went above and beyond to ensure the process was smooth and stress-free. They provided clear, straightforward advice and even pointed out potential issues in homes that I wouldn’t have noticed on my own. It was clear they genuinely cared about helping me find the right house, not just making a sale.
Thanks to their dedication, I found the perfect home, and I couldn’t be happier.
Amy Goldstein
Homebuyer
Thanks to her persistence and unwavering commitment, we were able to push through every obstacle and make it to closing. I’m now living in my new home, and it’s all thanks to Elaine! If you’re looking for a real estate agent who will truly go the extra mile, she’s the one you want by your side.
Feng Xu
Homebuyer
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