Philadelphia Home Prices Jump 4.8% in Q2 Year-Over-Year

Philadelphia median home prices rose 4.8 percent in the second quarter of 2026 compared with the same three months last year, according to county deed records processed through July 8.

The increase arrives as mortgage rates hold near 6.4 percent and inventory sits at roughly 4,200 active listings, down 12 percent from June 2025. Buyers who delayed purchases earlier this year now face tighter supply in several core neighborhoods, pushing some properties to sell above asking within ten days.

Fishtown saw 187 closed sales between April and June, with the typical rowhouse on Frankford Avenue changing hands at $465,000. Northern Liberties posted 92 transactions, where converted warehouses near Spring Garden Street averaged $512,000, up from $489,000 twelve months earlier. The Philadelphia Housing Authority’s scattered-site program added 38 new units in the same period, mostly in zip codes 19122 and 19123, providing one modest counterweight to price pressure.

Inventory and buyer traffic

Citywide, the average days on market fell to 28 from 34 in the second quarter of 2025. Single-family homes in the $350,000 to $450,000 range accounted for 61 percent of sales. South Philadelphia’s 19148 zip code recorded the largest year-over-year dollar gain, with the median rising to $378,000.

County data show 2,814 residential transactions closed in April through June, compared with 2,671 in the same window last year. The Philadelphia Association of Realtors reported that 44 percent of buyers waived inspection contingencies, up from 31 percent in Q2 2025.

Prospective buyers should review recent comps on Broad Street between Girard and Lehigh Avenues and contact local lenders for pre-approval before touring properties listed after July 15, when new inventory typically appears.