Is Philadelphia, PA 19118 a buyer’s or seller’s market?
Philadelphia is a seller’s market. With about 2.1 months of supply and 53% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 93% of U.S. ZIP codes, and #127 of 601 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Philadelphia housing market right now
In the three months ending August 31, 2026, 53% of homes in Philadelphia, PA 19118 sold above their list price, the typical home went under contract in 22 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 31 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 38%, homes sold faster (30 days then) and the median sale price rose 2% to $939,593. Overall, Philadelphia is more competitive than a year ago, so tougher for buyers.
Within Philadelphia County, homes here sell faster, and more often over asking, than in any other ZIP code in the county. On our competition score, Philadelphia ranks #127 of 601 PA ZIP codes with enough sales (score 88 out of 100).
Nearby, buyers who want less competition could look at Philadelphia 19102 (4% sold over asking) or Philadelphia 19107 (7% sold over asking).
Run the numbers for 19118
Nearby markets
Philadelphia 19102Balanced $322 /sq ftPhiladelphia 19103Balanced $477 /sq ftPhiladelphia 19104Buyer’s market $187 /sq ftPhiladelphia 19106Seller’s market $407 /sq ft Browse all markets →Towns like Philadelphia nearby
Find towns like Philadelphia in other states →Where Philadelphia is
Loading map…
Questions about Philadelphia real estate
Is Philadelphia a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Philadelphia, PA 19118 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Philadelphia?
The typical home went under contract in 22 days in the latest three months.
Do homes in Philadelphia sell over asking?
53% of homes sold above their original list price, and the typical sale closed at 103.9% of the list price.
What are property taxes in Philadelphia?
About 0.82% of a home’s value a year in Philadelphia County, or roughly $3,280 on a $400,000 home.
What is the median home price in Philadelphia?
The median sale price was $939,593 in the three months ending August 31, 2026, about $399 per square foot.
Local agents
See all agents in 19118 →No sponsored agents in 19118 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 19118
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology