October 2026 Real Estate Market Update: What's Happening Across Philadelphia and the Surrounding Counties?

The fall real estate market is bringing a mix of activity across Greater Philadelphia. While home prices continue to trend upward in most areas, sales and signed contracts have slowed in several markets compared to this time last year.

Our October 2026 market snapshot takes a closer look at Philadelphia, Bucks County, Montgomery County, and the Lehigh Valley, highlighting what buyers and sellers should know as we move toward the end of the year.

Bucks County: More Listings, Steady Home Prices

Bucks County saw 355 home sales in October, down 5.3% year over year. Despite the slight decline in sales, the median sale price remained relatively steady at $577,100, increasing 0.4%.

New listings increased 18.5% to 513, giving buyers more options compared to last year. However, new signed contracts declined 13.5% to 334, suggesting that increased inventory has not yet translated into stronger contract activity.

Homes spent an average of 30 days on the market before going under contract, while sold properties averaged 24 days.

Luxury Market ($1 Million+):

• 79 new listings, up 43.6%.
• 41 signed contracts, up 17.1%.
• 49 sales, up 11.4%.

Bucks County's market is seeing a noticeable increase in available inventory, while luxury activity remains encouraging.

Lehigh Valley: Prices Continue to Climb

The Lehigh Valley recorded 561 home sales in October, a 13% decrease from the previous year. However, the median sale price increased 6% to $350,000.

New listings rose 6% to 798, with a median listing price of $369,900, up 5% year over year.

The average time on market for sold homes was 26 days, one day faster than October 2025.

Luxury Market ($1 Million+):

• 13 new listings, up 18%.
• 4 sales, down 100% year over year.

While overall home prices continue to appreciate, the decline in sales shows that activity has cooled compared to last October. The increase in new listings also gives buyers more opportunities to explore available properties.

Montgomery County: A Relatively Steady Market

Montgomery County showed some of the most stable numbers this October. The area recorded 433 sales, unchanged from the previous year, while the median sale price increased 4.5% to $585,000.

New listings increased slightly to 555, up 1.6%, while signed contracts totaled 426, a 3.4% decrease.

Both homes going under contract and sold properties averaged 25 days on the market, unchanged year over year.

Luxury Market ($1 Million+):

• 82 new listings, up 9.3%.
• 53 signed contracts, up 3.9%.
• 49 sales, down 14%.

With sales holding steady and prices continuing to rise, Montgomery County remains a relatively balanced market compared to some neighboring areas. Luxury activity, however, showed a difference between growing new listings and declining completed sales.

Philadelphia: Higher Prices Despite Fewer Sales

Philadelphia experienced a slower October in terms of transaction volume. The city recorded 185 home sales, down 16.3% year over year.

Despite fewer transactions, the median sale price increased 4.9% to $385,000. New listings declined 5.2% to 312, while signed contracts fell 15.1% to 169.

Homes averaged 55 days on the market before going under contract, while sold properties averaged 46 days. Both figures improved compared to last year.

Luxury Market ($1 Million+):

• 22 new listings, down 45%.
• 13 signed contracts, down 18.7%.
• 21 sales, up 16.7%.

Philadelphia's market continues to show a contrast between pricing and transaction activity. While fewer homes are selling and going under contract, prices remain higher than they were a year ago. The luxury segment also recorded an increase in completed sales despite fewer new listings and signed contracts.

What Does This Mean for Buyers and Sellers?

October's numbers show that Greater Philadelphia's real estate market isn't moving in one direction. Each area is experiencing its own combination of pricing trends, inventory levels, and buyer activity.

For buyers, the increase in new listings across Bucks County, Montgomery County, and the Lehigh Valley may create more opportunities to compare properties and find the right fit. In Philadelphia, fewer new listings mean buyers may have fewer options to choose from.

For sellers, rising median prices across all four markets are encouraging. However, declining signed contracts and sales in several areas highlight the importance of realistic pricing, strong presentation, and an effective marketing strategy.

The luxury market also tells an interesting story. While some areas are seeing growth in new listings, others are recording fewer transactions. Buyers and sellers in the $1 million-plus segment should pay close attention to local conditions rather than relying on broader market trends.

Looking Ahead

As we head toward the final months of 2026, inventory, pricing, and buyer demand will continue to shape the Greater Philadelphia housing market.

Whether you're considering selling, searching for your next home, or simply keeping an eye on local real estate trends, understanding what's happening in your specific market can help you make more informed decisions.

Thinking about buying or selling in Philadelphia, Bucks County, Montgomery County, or the Lehigh Valley? Let's talk about what the latest market trends mean for your next move.

Data reflects October 2026 year-over-year comparisons. Sources include local MLS data and are subject to revision. Figures reflect single-family homes in Bucks County, Montgomery County, and Philadelphia (including condos and co-ops in Philadelphia), and single-family homes in Lehigh and Northampton Counties for the Lehigh Valley. Luxury market data reflects properties priced at $1 million and above.