Greater Philadelphia saw the strongest home price growth among 40 major metro areas in January, with prices rising 8.6 percent year over year, writes Ryan Mulligan for the Philadelphia Business Journal.
In January, the region’s median home price increased to $380,000, up from $350,000 a year earlier. According to a recent report from Homes.com, this growth is more than three times the national increase of 2.8 percent, with the national median sale price at $374,900.
The report follows Zillow’s prediction that the Philadelphia region would be one of the top ten housing markets this year.
However while home prices increased, the number of sales declined significantly compared with January of last year, with the housing market impacted by both the usual winter slowdown and low inventory levels.
Greater Philadelphia saw home sales decline by 8.6 percent in January compared to last year, with total sales dropping to 3,621 from 3,963 in January 2025. The month-to-month decrease was even steeper, falling 33.8 percent from December’s 5,471 sales.
Meanwhile, active listings rose 8.4 percent compared to a year ago, reaching around 10,000 at the end of January.
Read more about the rising home prices in the Greater Philadelphia housing market in the Philadelphia Business Journal.
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