Philadelphia Real Estate Market 2026: Score 70, Sellers Get Full Asking Price

Philadelphia scores 70 out of 100 on the PropertyIQ index as of February 28, 2026.

That grade is C-. Yet sellers in this market are receiving 100% of their asking price. New listings are declining 5.87% year over year. Home values grew 1.84% year over year. The pending ratio is 0.6979.

The disconnect between the 70 score and these transaction metrics points to what the score actually measures: not just whether individual homes sell well, but the full balance between supply and demand across the metro.

PropertyIQ scores Philadelphia a 70 out of 100 as of February 28, 2026.

What the 70 Score Reflects

Philadelphia has 9,095 homes for sale as of February 2026, up 4.16% year over year. That is a meaningful inventory level for a metro of 6.2 million -- but not lean enough to drive a score into the 80s or 90s.

The score oscillates in a consistent range. Over the past 20 months, it has held between 62 and 76, with no sustained breakout in either direction.

| Month | Score | |-------|-------| | August 2024 | 62 (recent low) | | January 2025 | 75 | | July 2025 | 67 | | November 2025 | 76 (recent high) | | January 2026 | 68 | | February 2026 | 70 |

A market that ranges 62-76 without breaking above or below is a stable, balanced market. The score is not alarming and not exciting. It reflects a major metro operating near equilibrium.

Current Market Conditions

The median listing price in Philadelphia is $356,425 as of February 1, 2026. The Zillow median home value is approximately $375,224 as of January 31, 2026.

Home values grew 1.84% year over year as of February 2026. Five-year appreciation is 11.38%.

The overvaluation reading is 19.8% as of February 2026. That is the lowest overvaluation figure of any major metro covered in this analysis, including Austin (22.8%) and Grand Rapids (20.5%). Philadelphia's price-to-income relationship is among the most accessible of any metro this size.

The Transaction Data

The numbers at the transaction level tell a more active story than the 70 score alone suggests.

Sellers receive 100.00% of their asking price as of November 2025. The pending ratio is 0.6979: for every 100 active listings, 70 are under contract. Days on market average 53. New listings are declining 5.87% year over year.

Home sales are slightly down, -1.78% year over year, consistent with a market where fewer homes are being listed rather than where demand has dropped.

Affordability

The estimated household income required to purchase a median-priced home in Philadelphia is $94,736 as of February 2026. The metro median household income is $89,273 as of 2023 Census data.

That $5,463 annual gap between required income and median income makes Philadelphia one of the most accessible major coastal markets in the dataset. The homeownership rate is 66.99%. Zillow forecasts 2.5% near-term appreciation as of December 2025.

Northeast Comparison

Boston and Providence score higher in the Northeast. Boston's supply constraint is more severe, driving a higher score on thinner inventory. Providence at 96 reflects a smaller market with almost no available supply.

Philadelphia's challenge is scale. At 6.2 million residents, the metro generates higher absolute inventory numbers than smaller New England markets, which moderates the score even when per-capita supply is comparable.

Baltimore and Washington DC are the Mid-Atlantic peers. All three show similar score patterns: mid-60s to mid-70s, stable, with no dramatic swing in either direction.

The Rental Market

The Zillow rent index for Philadelphia is $1,849 per month as of December 2025. The income required to rent comfortably is approximately $73,969 annually.

The unemployment rate is 4.0% as of December 2025. Population is 6,241,882 as of 2023 Census. Philadelphia is the sixth-largest metropolitan area in the United States.

Reading the Score in Context

A 70 in Philadelphia is not a warning sign. The market is not cooling dramatically or showing demand collapse. It reflects a major metro in balance: enough inventory to give buyers choices, enough demand to keep sellers at 100% of asking price, and enough supply discipline (declining new listings) to sustain modest appreciation.

PropertyIQ score as of February 28, 2026. Listing and inventory data as of February 1, 2026. Zillow home value data as of January 31, 2026. Sale-to-list data as of November 30, 2025. Forecast data as of December 2025. Census data as of 2023. Economic data as of December 2025. All data for informational purposes only.