Q1 2023 Metro Philly Market Report

Real Estate Agent with COMPASS RE See Skills

The real estate market locally has been building momentum and getting
stronger in the first quarter of 2023. Despite a temporary lull in inventory,
record-breaking numbers have still been reported in many areas, reflecting
the resilience of the market.

We are standing by and ready to leverage the best tools in the
industry to help you reach your real estate goals this year — whether that
means readying your home to list for maximum return, or finding the home
you’ve been waiting to fall in love with.

No matter your real estate goals, we’re glad they brought you here. We hope
this upcoming spring brings you warmth, joy, and an excitement to explore
the incredible neighborhoods within our region. 


The following data represents all residential market activity by county, based on Broker Metrics data as of 4/10/23. While all county data reflects the same or longer Days on Market (DOM) and fewer sales in Q1 2023 vs Q1 2022, average sales price has increased in all markets, indicating strong values and a consistently strong seller's market.

  Q1 2022 Sales Q1 2023 Sales Q1 2022
Avg. Price
Q1 2023
Avg. Price
Q1 2022
Q1 2023
Bucks 1,403 1,084 $473K $497K 22 31
Chester 1,338 923 $515K $573K 24 25
Delaware 1,602 1,063 $362K $381K 29 29
Montgomery 2,072 1,484 $430K $462K 25 31
Philadelphia 4,425 2,970 $315k $316k 45 59


Ready to start your real estate journey? Get in touch and let's chat!


Comments (1)

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your market report with us here in the Rain. It's always interesting to see how other areas of the country are doing.


May 23, 2023 09:20 AM