Greater Philadelphia Real Estate Market Update: March 2026

Spring is in the air, and so is a sense of cautious optimism across our local housing markets. Inventory is slowly ticking up, mortgage rates are meaningfully lower than they were a year ago, and buyers are coming off the sidelines just in time for the season. Here's a look at what's happening across all four counties.

📍 Philadelphia County

Philadelphia continues to be one of the most active markets in the region by sheer volume. Home prices were up 6.0% year-over-year in February 2026, with a median sale price of $265,000. Homes are averaging about 70 days on market, compared to 68 days last year, and 798 homes sold in February, down from 887 the year prior. The city has the highest inventory levels in the region, but demand continues to absorb new listings as they arrive. The overall market is holding at a balanced state, where both buyers and sellers can find favorable ground with the right strategy. Homes are selling for about 97.4% of asking price, and about 23.5% of homes are selling above list, up from 21% last year.

📍 Montgomery County

Montgomery County remains one of the more competitive suburban markets in the region, and 2026 is no exception. The median sale price in January 2026 came in around $450,000, up roughly 2.5–3.2% from January 2025. Homes are averaging about 43–44 days on market, up from around 38 days last year, and January saw roughly 463–472 homes sold across the county. The market leans toward sellers, particularly for well-priced, move-in-ready homes in strong school districts. Areas like Ambler, Jenkintown, Conshohocken, and parts of Lower Merion still attract strong buyer competition, with some homes going under contract in two to three weeks. That said, this is no longer the frantic bidding-war environment of 2021 and 2022. Buyers have more breathing room, and negotiation has returned in a meaningful way.

📍 Bucks County

Bucks County is heading into spring on solid footing. The median sold price in February 2026 was $470,000, up 2.2% from last February, and the year-to-date median is running 3.2% above last year. The median home price sits at $500,000 as of March 2026, reflecting a 3.6% increase over the past year. Homes are spending an average of 33 days on market, which is about 14% higher than the five-year average for this time of year. The county is officially sitting in balanced market territory, where buyers finally have a bit of breathing room. With the average 30-year fixed rate currently at 5.87%, the spring market is looking strong, giving buyers more purchasing power heading into the busy season.

📍 Delaware County

Delaware County continues to be a steady, active market, and one that's increasingly attracting first-time buyers looking for relative affordability compared to some neighboring counties. Median home prices in February 2026 were up 3.8% year-over-year, reaching $330,000. Homes are averaging 48 days on market, compared to 37 days last year, and 315 homes sold in February, down slightly from 344 the prior year. Homes are frequently selling near asking price, evidence of steady buyer interest and strong local demand. The county's relative affordability continues to be a draw, and gradual improvements in inventory are giving buyers a bit more to choose from.

A quick note on mortgage rates

As of March 12, 2026, the 30-year fixed-rate mortgage averaged 6.11%, down from 6.65% a year ago. Purchase applications are up, and existing-home sales increased 1.7% in February, a welcome sign as buyers enter the spring season. Rates have crept back up slightly in recent weeks, but the bigger picture is encouraging: borrowing is meaningfully more affordable today than it was in 2023 and 2024.

What this means for buyers and sellers

Whether you're buying or selling, this spring is shaping up to be a solid one. Buyers are seeing real savings compared to a year ago as rates have come down, inventory is slowly improving, and the pressure to waive everything just to get a deal done has mostly faded. Sellers, you're still in good shape too. Home values are up across all four counties, buyer demand is building, and well-priced, well-presented homes are still generating strong offers. The key word in both cases is preparation. If you're thinking about making a move this year, let's connect and put together a plan that sets you up for success.