Is the housing market slowing down in Philadelphia, PA?
Yes — sales activity in Philadelphia, PA is down. 1,746 homes sold during May 2026, against 1,951 in the same months a year earlier, a drop of 11%.
This page is about how many homes changed hands, not what they cost. The two move separately: prices are set by the homes that did sell, and volume tells you how many people managed to transact at all. A market can hold its prices while activity quietly drains out of it.
The change clears both tests we require before naming a direction: it is more than 3% in relative terms, and it is larger than the ordinary month-to-month variation you would expect on a market that sells 1,746 homes at a time.
The longer view, all measured over the May window so the season is held constant: 2,099 homes sold two years ago, 1,951 last year, 1,746 now. Activity is meaningfully below where it was two years ago.
What is on the shelf next to what is selling: 6,520 homes were on the market in Philadelphia, PA, and 1,746 sold. At that pace it would take about 3.7 months to clear them all. Buyers and sellers are about evenly matched right now.
Every comparison on this page is to the SAME calendar months a year earlier, never to last month. Home sales roughly double between January and May in most of the country, so a month-over-month reading would tell you about the season and nothing about the market.
Source: Redfin's published market data for the Philadelphia, PA area, through May 2026.
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More about the Philadelphia, PA market
- When is the best month to sell a house in Philadelphia, PA?
- How long does it take to sell a house in Philadelphia, PA?
- Do homes sell above asking price in Philadelphia, PA?
- Are home prices going up or down in Philadelphia, PA?
- Is Philadelphia, PA a buyer's market or a seller's market?
- Are sellers cutting prices in Philadelphia, PA?
- What is the average home price in Philadelphia, PA?
- How many homes are for sale in Philadelphia, PA?
- All Philadelphia, PA housing numbers
Other markets
- Is the housing market slowing down in Pittsburgh, PA?
- Is the housing market slowing down in Montgomery County, PA?
- Is the housing market slowing down in Allentown, PA?
- Is the housing market slowing down in Harrisburg, PA?
- Is the housing market slowing down in York, PA?
- Is the housing market slowing down in Scranton, PA?
- Is the housing market slowing down in Lancaster, PA?
- Is the housing market slowing down in Reading, PA?
Figures come from Redfin's published market data for the Philadelphia, PA area, through May 2026. Neighborhood Numbers is an independent data publisher and is not affiliated with Redfin. We update these pages when Redfin publishes, once a month.