Buy now or Wait for Rate Drops? – Greater Philadelphia Housing Update – Phillie Playoffs and Free Photoshoot!

by Brad Gellman

I hope you’re enjoying the start of fall — it’s always a busy but exciting season. In this month’s update, I’m sharing some timely insights on whether it makes more sense to buy now or wait for rates to drop, along with a look at the September housing market across Greater Philadelphia. You’ll also find details on my upcoming (and newly rescheduled) free fall photoshoot, plus some fun updates — including the Phillies clinching the NL East and gearing up for another playoff run, and how the season is shaping up in my business. Let’s dive in!

Should You Wait for Lower Rates — or Sell and Buy a Home Now?

This idea came up recently when a client reached out to me to talk through her future plans. She and her family bought a home a few years ago, but with her youngest about to start grade school, she’s considering moving back to her hometown. Her initial thought was to wait until interest rates go down. After we talked it through, though, she realized that lower rates could mean both positives and challenges — not just for selling her current home, but also for buying her next one. That conversation made me think this is something a lot of people should be weighing right now.

The housing market across the Philadelphia region has been holding steady month to month. That’s an important factor — it means sellers are still getting strong prices for their homes, but buyers aren’t facing the kind of intense competition that comes when rates drop. In other words, conditions are relatively balanced right now, which creates a unique window of opportunity.

If mortgage rates decrease in the future, many buyers who have been sitting on the sidelines will jump back into the market. That surge in demand is likely to drive up home prices and bring back bidding wars, making it much harder (and more stressful) to find the right property. While that could benefit sellers, buyers will face challenges securing a home without having to pay a premium.

For those considering both selling and buying, this moment can be especially favorable. You can list your current home while prices remain strong, and at the same time purchase your next home at a fair value without having to compete against a flood of other buyers. Later, if rates do come down, you’ll have the option to refinance and lower your monthly payment — without being stuck paying a higher price for the home itself.

Of course, the right time to buy is always when it makes sense for you financially and personally. If stretching your budget right now would create too much strain, it may still be worth waiting — just keep in mind that waiting could mean entering a much tougher market. For many buyers and move-up sellers, however, today’s conditions strike a rare balance: strong sale prices, fair purchase prices, and the flexibility to refinance down the road.

If you’re wondering what makes the most sense for your situation, I’d be happy to talk it through with you. Reach out anytime, and together we can figure out the best strategy for your goals.

📍 September 2025 Housing Market Update: Philly, Bucks, Montco & Delco

The housing market across the Greater Philadelphia region continues to shift toward a more balanced state. Prices are still trending upward in most counties, though at a modest pace. Inventory levels remain tight, but homes are staying on the market slightly longer than this time last year. Sellers still hold some leverage, but buyers are finding increased opportunity as competition cools from peak summer highs.

📍Philadelphia County

The median sale price in Philadelphia for August 2025 was $270,000, which is largely flat year-over-year (Redfin).

The Zillow Home Value Index reports a typical home value of $232,459, reflecting a 3.1% year-over-year increase as of August 31, 2025. Homes are going pending in a median of 21 days, showing some market activity but a slower pace than earlier in the year (Zillow).

According to the Federal Reserve's House Price Index, the Philadelphia metro continues its gradual appreciation, reaching 405.67 in Q2 2025—marking consistent growth from prior quarters (FRED).

📍Delaware County

Zillow data shows the typical home value in Delaware County at $359,086, up 2.1% year-over-year as of August 2025. Homes are moving relatively quickly, with a median pending time of 9 days (Zillow).

Redfin reports a median sale price of $380,000 in August, representing a 7.0% annual increase. Homes took about 33 days to sell, slightly longer than the 29-day average one year ago (Redfin).

Long & Foster’s monthly report indicates a median sale price of $385,000, with 766 active listings—down from 890 a year ago—indicating tighter inventory. The market has about 1.5 months of supply, consistent with seller-friendly conditions (Long & Foster).

📍Montgomery County

The median sale price in Montgomery County in August 2025 was $475,000, up 2.2% year-over-year, according to Redfin. Homes spent an average of 26 days on the market, slightly longer than last year. Monthly sales totaled 938, showing a slight decline in volume (Redfin).

Zillow reports the typical home value in Montgomery County at $481,492, a 2.8% increase year-over-year. Many listings are going under contract in 7 days, indicating that well-priced homes are still selling quickly (Zillow).

Long & Foster puts the median sale price at $486,500 for August, a 3% increase from the same month in 2024. Inventory remains tight with 1,174 active homes, and the average time on market is 20 days (Long & Foster).

📍Bucks County

The median sale price in August was $530,000, a 5.0% increase compared to August 2024. Homes took approximately 27 days to sell (Redfin).

Zillow’s data shows the typical home value at $507,666, up 4.2% year-over-year, with strong buyer activity in submarkets such as Doylestown and Bristol (Zillow).

The Bucks County Association of REALTORS® noted a 2.9% monthly increase in prices from July to August, with the average time on market increasing slightly to 21 days (BucksRealtor.com).

Regional Overview

County	Median Sale Price (Aug 2025)	YoY Change	Days on Market	Notable Trends
Philadelphia	$270,000	~+0.0%	~50 days	Slowing activity, stable pricing
Delaware County	$380,000–$385,000	+2–7%	~33 days	Prices rising, inventory declining
Montgomery County	$475,000–$486,500	+2–3%	20–26 days	Prices steady, listings selling fast
Bucks County	$530,000	+5%	~27 days	Healthy price growth, moderate speed