Greater Philadelphia Real Estate Market Update, May 2026

Greater Philadelphia Real Estate Market Update, May 2026

Spring is in full swing, and the local market is showing it. Buyer activity has held steady heading into May, inventory continues to tick up in most areas, and rates,while still above where many buyers would like them,are meaningfully lower than they were a year ago. Here's what's happening across all four counties.

📍 Philadelphia County

Philadelphia's median sale price came in at $275,000 in April 2026, with homes averaging 51 days on market compared to 48 days a year ago. The city remains the highest-volume market in the region, and its relative affordability compared to the surrounding suburbs continues to draw buyers who are being priced out elsewhere. The sale-to-list price ratio is holding around 97%, and homes are receiving an average of two offers, pointing to a balanced but competitive market. For sellers, realistic pricing and strong presentation still matter more than ever. For buyers, there is more room to negotiate than there was a few years ago, but well-positioned homes are not sitting long.

📍 Montgomery County

Montgomery County's most recent data shows a median sale price of $430,000, with homes averaging 42 days on market. The county continues to be one of the most in-demand suburban markets in the region. According to the Montgomery County Planning Commission, the county posted a median home price of $457,000 in 2024, up 7% from the prior year, reflecting the strong and sustained appreciation homeowners here have built up over several years. Inventory has improved from its tightest levels, giving buyers slightly more to work with, but well-priced homes in strong school districts are still drawing real competition.

📍 Bucks County

Bucks County continues to be one of the strongest-performing markets in the region. In March 2026, 424 homes were sold, marking a 14.6% increase from March 2025. The median sale price reached $510,000, up 9.2% from last year's $467,000. That kind of year-over-year price jump is notable and reflects just how much demand is competing for available homes. Inventory remains low in high-demand areas like New Hope and Doylestown, while more properties are becoming available in Upper Bucks towns like Perkasie and Quakertown. Buyers re-entering after a cautious winter are finding a market that rewards preparation and quick decision-making.

📍 Delaware County

Delaware County's median sale price was $330,000 in February 2026, up 3.8% year-over-year, with homes averaging 48 days on market compared to 37 days the prior year. Zillow's home value index puts the typical Delaware County home value at approximately $326,000, up 4.1% over the past year. The county continues to attract first-time buyers who find themselves priced out of neighboring Montgomery and Bucks, and that steady demand is keeping prices supported even as inventory gradually improves.

A Note on Mortgage Rates

As of May 14, 2026, the average 30-year fixed-rate mortgage was 6.36%, down from 6.81% a year ago. Freddie Mac noted that while purchase demand is softening slightly, it remains above this time last year, and existing-home sales are modestly edging up. Rates have been nudging up slightly in recent weeks due to inflation data and global uncertainty, but the year-over-year improvement remains meaningful for buyers calculating their purchasing power.

📊 Market Summary — March 2026

County	Median Price	YoY Change	Avg. DOM	Closed Sales
Philadelphia Co.	$275,000	Flat / +1.8%	51 days	Active
Montgomery Co.	$430,000	-3.4%	42 days	536
Bucks Co.	$510,000	+9.2%	~40 days	424
Delaware Co.	$330,000	+3.8%	48 days	315

*Montgomery Co. YoY reflects February 2026 Redfin data; month-to-month variation is normal and the longer trend remains positive. All figures approximate.

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.