Why Now is (or Isn’t) a Good Time to Buy a Home in Philadelphia

Why Timing Matters in Philly’s Market

Deciding when to buy is almost as important as where to buy. Real estate markets are cyclical, and local, neighborhood-level dynamics—inventory, interest rates, buyer sentiment—can shift rapidly. In Philadelphia, macro trends suggest continued demand, but tightening inventory and economic pressures are putting stress on affordability.

In 2025, Philadelphia ranks among the country’s more competitive markets.  Rising job growth and relatively lower prices (compared to other major metros) continue to draw buyers. But that doesn’t mean it’s the right time for everyone. The decision depends heavily on your financial position, risk tolerance, and timeline.

Let’s see how that plays out in Rittenhouse Square and Society Hill, two prominent neighborhoods with distinct characters and market dynamics.

Market Trends Snapshot:
Society Hill

Now let’s look at Society Hill:

• As of mid-2025, Zillow shows an average home value around $479,030, up ~2.6% from a year prior. 
• Realtor.com lists median active home prices near $692,000 in Society Hill. 
• Homes in Society Hill typically go under contract in about 54 days—slightly faster than national averages. 
• Local commentary notes that, despite broader real estate fluctuations, Society Hill’s property values show resilience, largely thanks to limited inventory and historic desirability. 
• The mix of property types—brownstones, high-rises, courtyard homes—gives buyers a wider range of options, but also more variability in pricing and condition.

Market Activity in Society Hill

Pending and Active Listings in Society Hill for the last three months:

Pricing Trends in Society Hill

Average List Price for Pending, Active and Sold Listings in Society Hill for the last three months:

What this suggests for buyers:

• The upward drift in home values, even amid possible softening elsewhere, points to the strength of location and character in buyer demand.
• Shorter days on market means competition still exists.
• Because inventory is tight, buyers may have to act fast or accept compromises.

Learn more about Society Hill:

For Sale in Society Hill:
104 Lombard Street, Philadelphia Pa 19147

Beautifully updated, ultra-wide 3-bedroom, 3-bathroom residence tucked into the heart of historic Society Hill. This thoughtfully designed home offers refined finishes, smart technology, and private outdoor space—all in one of Center City’s most sought-after neighborhoods.

Enter into a spacious entryway with ample storage, including a large custom-designed closet. The first-floor bedroom features an en-suite bath and oversized closet with built-ins—perfect for guests or an ideal home office setup.

Upstairs, the main level stuns with floor-to-ceiling windows, brand-new hardwood flooring, and an open layout that blends function and style. The sleek kitchen is outfitted with a high-end Thermador appliance package, pantry storage, and a seamless flow to your tranquil backyard oasis complete with built-in planters and mature trees. The living area includes a Juliet balcony, steam-powered fireplace for ambient warmth, and integrated speaker system—all managed through a full smart home setup.