Home prices in Philadelphia continue to climb, with the median home sale price in the city’s most expensive neighborhood with Chestnut Hill reaching $751,000 last year, writes Mike D’Onofrio for AXIOS Philadelphia.
This marks nearly a seven percent increase from 2023, according to Bright MLS data.
In Philadelphia proper, the median sale price reached $265,000 in 2024 was an almost four percent rise over the previous year. Meanwhile, sales in the affluent area saw an increase of nearly 11 percent compared to 2023.
Following Chestnut Hill, the most expensive neighborhoods are Northern Liberties, East Poplar, and West Poplar, with a median home sale price of $525,000, up from $475,000 in 2023.
Queen Village, Bella Vista, Hawthorne, and Passyunk Square are next on the list with a median home sale price of $510,000, compared to $483,000 last year.
Point Breeze, Grays Ferry, and Southwest Center City rank fourth, with a median home sale price of $435,000. This ended up being slightly lower than the $473,000 that was recorded in 2023.
Overall, the ten priciest neighborhoods in Philadelphia remained mostly unchanged from 2023 to 2024, though there was still some shifting as to which neighborhoods fluctuated the most.
Read more about Philadelphia’s most expensive neighborhoods in AXIOS Philadelphia.
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Editor’s Note: This post first appeared on PHILADELPHIA Today in January 2025.
