Greater Philadelphia Weekly Luxury Market Update
Michael Prince | July 16, 2025
Moving to Philadelphia
Michael Prince | July 16, 2025
Moving to Philadelphia
Date Range: July 7–13, 2025
Covering $1M+ single-family home data in Philadelphia, Bucks County, and Montgomery County
Despite a dip in overall sales, buyer activity surged in Philadelphia's luxury market, with new contracts climbing sharply.
Sales: 7 (-30% WoW)
Median Sales Price: $1,225,000 (-16%)
New Signed Contracts: 6 (+200%)
Median Contract Price: $1,475,000 (-61%)
New Listings: 7 (+75%)
Median Listing Price: $1,850,000 (+43%)
In Contract DOM: 48 Days
Sold DOM: 25 Days
Takeaway:
Although sales volume dipped, the contract surge suggests growing buyer confidence. New listings are coming to market at higher price points, indicating seller optimism despite recent pricing adjustments.
Luxury listings are tightening in Bucks County, and though new contract activity slowed, closed sales are up.
Sales: 7 (+40% WoW)
Median Sales Price: $1,400,000 (-12%)
New Signed Contracts: 8 (-43%)
Median Contract Price: $1,224,750 (-18%)
New Listings: 18 (-19%)
Median Listing Price: $1,197,500 (-4%)
In Contract DOM: 87 Days
Sold DOM: 64 Days
Takeaway:
Even as contracts and new listings dip, buyers are still closing on luxury homes, likely absorbing older inventory. Slight median price drops show a market slowly rebalancing, with longer days on market a key trend to watch.
Montco saw the biggest influx of inventory, especially in the luxury space, paired with a decline in buyer activity.
Sales: 150 (-19% WoW)
Median Sales Price: $505,000 (-4%)
New Signed Contracts: 147 (-14%)
Median Contract Price: $485,000 (-3%)
New Listings: 184 (+229%)
Median Listing Price: $495,000 (-12%)
In Contract DOM: 24 Days
Sold DOM: 14 Days
Luxury Market ($1M+):
New Listings: 20 (+300%)
Signed Contracts: 9 (-38%)
Sold: 14 (-30%)
Takeaway:
Inventory exploded in Montgomery County, but luxury buyers appear more cautious. Prices and contract activity dipped, and luxury homes are moving slower. However, short DOMs in the broader market indicate that well-priced homes are still going quickly.
For Buyers:
More options are becoming available, especially in Montgomery County. Philadelphia’s contract activity shows the best listings are attracting attention—be ready to move quickly when the right one hits the market.
For Sellers:
Price strategically. Montgomery's inventory boom and Philly’s pricing drops show that buyers are sensitive to value. Presentation, marketing, and data-backed pricing are key to standing out.
Whether you're looking to buy, sell, or invest in Philadelphia, Bucks, or Montgomery County, staying on top of the numbers gives you a major edge.
📲 Call/Text: 267-788-1650
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Michael's experience, knowledge, and outstanding communication skills enable him to advocate for clients and expertly negotiate on their behalf. Whether you are looking to buy your dream home or sell your property at the best possible price, Michael is committed to delivering exceptional results. His friendly and personable demeanor makes him both well-respected by his peers and a trustworthy and reliable agent for his clients.