Philadelphia, Pennsylvania started 2024 with a total of 2,347 single-family homes on the market, with a median home price of $249,900 and an average price per square foot of $212.07. By the end of the year, inventory had decreased to 2,189 homes on the market (-7%), with a median home price of $259,950 (+4%), and an average price per square foot of $223 (+5%).
At the start of 2024, the median days on market (DOM) was 91 days – by the end of the year, median DOM had decreased to 84 days.
Philadelphia, Pennsylvania started the year with 43.72% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 43.26% of homes for sale had taken a price cut.
