Southeastern Pennsylvania homebuyers are seeing more competition than buyers across the country. According to Daryl Fairweather, chief economist at Redfin, as most of the country is shifting into a buyer’s market, the Philadelphia region is “remaining more of a seller’s market.” The combined market of Philadelphia and Delaware counties was one of only eight big metropolitan areas where a higher share of homes — about 24% — sold above the original listing price in February compared to the same time last year. In Montgomery, Chester and Bucks counties, 36% of homes sold in February sold for above the original asking price, according to Redfin. It is a higher percentage than in Philadelphia and Delaware counties but 4% lower than the previous year. Redfin states that nationwide, roughly one in five homes sold for more than the asking price in February, down from the same time last year.
Source: Philadelphia Inquirer; 4/4/2025