There were 13 homes sold in August, with a median sale price of $180,000 — a 13.5% decrease from the $208,000 median sale price during the same period of the previous year. In comparison, 1,399 homes were sold in Philadelphia County in August 2023.
Based on the latest available data from 2023, the median sales tax in Philadelphia County was $1,777, which stands at 1% of August's median home sale price.
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 August 2023 to August 2024.
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