Greater Philadelphia Real Estate Market Update: May 2025

🏡 May 2025 Greater Philadelphia Housing Market Snapshot

The housing market across the greater Philadelphia region is showing signs of stabilizing. Home prices continue to rise modestly, but with more inventory becoming available, buyers are finding additional options. That said, affordability remains a challenge in some areas, and market activity is varying across counties.

📍Philadelphia County

In Philadelphia, the median home price reached $274,000 in April, reflecting a 4.6% increase year-over-year, according to Redfin. Inventory has grown significantly, with over 5,800 active listings reported—up nearly 50% from the previous month (Rocket Homes). Zillow recently named Philly one of the hottest markets in the U.S. for 2025, driven by relative affordability and a strong job market (Axios). An interesting trend to watch: the city has seen a surge in micro-housing, with about 7% of rentals now comprising tiny homes (Axios).

📍Bucks County

Bucks County continues to see solid price appreciation, with the median sale price hitting $485,000 in April—a 5.4% increase from last year (Redfin). Inventory also jumped, doubling month-over-month to over 1,200 active listings (Rocket Homes). While demand is still strong, local data shows a decline in the contract ratio, suggesting a shift toward a more balanced market (Bucks County Association of Realtors).

📍Montgomery County

Montgomery County saw a 2.7% annual increase in home prices, bringing the median sale price to $462,000 this April (Redfin). Inventory surged as well, with over 1,700 homes on the market—more than double what was available in March (Rocket Homes). Homes are moving quickly, too; the median number of days on the market dropped by over 24% compared to last year (Trading Economics).

📍Delaware County

In Delaware County, the median home price rose to $350,000 in April, a 6% increase from the prior year (Redfin). However, new listings dipped by 14% year-over-year, with just over 600 homes newly listed in April (Long & Foster Market Minute). Despite limited new inventory, homes are selling fast—going pending in a median of just 6 days (Zillow).