What’s My Home Worth in Philadelphia?

The median home in Philadelphia sold for $295,000 in May 2026, with homes going under contract in a median of 19 days (Source: Bright MLS). The city is a genuinely different market from the suburbs: more supply, more negotiating room, and its own tax rules. Whether you own a rowhome, twin, or condo, the citywide median is not your number; value in Philadelphia is decided block by block.

The Philadelphia market right now

Philadelphia carries about 4 months of housing supply, more than double the surrounding suburbs, and the median eased 3.3% year over year. That makes the city the most balanced market in our footprint: buyers have real choices and time to think, so presentation and pricing carry more weight than anywhere else we work. Homes that show well and price to the current market still sell quickly; homes priced on hope sit and negotiate down. We serve Philadelphia neighborhoods alongside our four-county suburban footprint.

The Philadelphia transfer tax is different

One number every city seller should know: Philadelphia’s combined realty transfer tax is roughly 4.28% of the sale price (about 3.28% city plus 1% state), compared with 2% in most suburban municipalities. By custom it is typically split with the buyer, but how it is negotiated affects your net meaningfully. On a $295,000 sale, the seller’s customary half is over $6,300, which is why we run a personalized net sheet with every valuation so there are no surprises at the settlement table. Our full PA selling-cost breakdown covers the rest of the line items.

Why your home’s value is decided block by block

Philadelphia values swing more over short distances than anywhere in the region. What sets your number: your block and its recent sales, condition against nearby renovated comparables, parking, outdoor space, taxes and any abatement status, and proximity to transit and walkable commercial corridors. Automated estimates are least reliable in exactly this environment, because public records cannot see a renovation, a finished basement, or the difference between your block and the next one over. A comparative market analysis prepared by a licensed agent can.

Selling in the city, backed by a suburban-scale team

The McKnight Team is ranked among the Top 100 Keller Williams teams in the region, with 290+ five-star reviews across Google and Zillow and more than 1,000 families served across Philadelphia and its suburbs. City sellers get the same approach: honest pricing, a real marketing plan, and a team that answers when you call. The valuation is free, takes one business day, and carries no obligation.

Philadelphia home value FAQs

What is the median home price in Philadelphia?

$295,000 as of May 2026, with homes going under contract in a median of 19 days (Source: Bright MLS).

Is Philadelphia a buyer’s or seller’s market right now?

The most balanced market in the region: about 4 months of supply as of May 2026, versus under 2 months in the suburbs. Well-priced, well-presented homes still sell quickly, but buyers have more leverage than in the surrounding counties.

How much is the transfer tax when selling in Philadelphia?

The combined city and state realty transfer tax is roughly 4.28% of the sale price, typically split between buyer and seller by custom. The seller’s customary share on a median-priced home is over $6,300.

How do I find out what my Philadelphia home is worth?

Request a free valuation from The McKnight Team. A licensed agent prepares a comparative market analysis using recent sales on and around your block and responds within one business day.

Do you sell homes in the city as well as the suburbs?

Yes. The McKnight Team serves Philadelphia alongside Bucks, Montgomery, and Delaware Counties, so sellers moving between the city and suburbs work with one team for both sides of the move.

Get your Philadelphia home value

Call or text (267) 458-2438, or contact us here. The McKnight Team — Keller Williams Real Estate.