From October through December of 2023, 3,662 homes were sold in the county, with sale prices around $186,500. This is a 1.8% decrease from the $189,900 median sale price during the same period in 2022, when there were 4,173 homes sold.
Based on the latest available data from 2023, the median sales tax on homes in Philadelphia County was $1,777, which equates to 1% of the median home sale price for the fourth quarter of 2023.
The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.
“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.
The following histogram displays changes in median sales prices in Philadelphia County from October 2022 to December 2023.
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