Philadelphia, PA 19104 Real Estate Market Report

ZIP Code: 19104
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The primary indicator of recent transactions is the median sold price of 221,500, which represents the most reliable signal of realized market value in the ZIP code and should guide underwriting and comps; representative recent sale suggests pricing should prioritize closed deals over ask lists.

2. Despite a median listing price of 327,500, the market is showing pricing friction between ask and sale levels—this gap suggests sellers' expectations may be above recent transaction levels and pricing alignment may be required to accelerate offers.

3. Liquidity appears muted given a median days on market of 311, which indicates slower sales velocity and that properties may require longer exposure or price adjustments to transact; stable to cautious marketing strategies are appropriate.

4. Market drivers show a price year-over-year trend of up alongside a neutral market temperature and elevated interest rate pressure, implying that while values show modest appreciation, financing headwinds could temper demand and warrant conservative financing assumptions and sensitivity testing in deal evaluation.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Philadelphia, PA 19104 Real Estate Market Report

ZIP Code: 19104
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

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Key Findings

1. The median sold price is the primary indicator of market value and recent transaction activity, but a specific median sold price value is not provided in the available metrics; therefore prioritize completed-sale context (price per square foot and sampled transaction patterns) when valuing properties in 19104. use sold transactions for valuation

2. The neighborhood shows a strong price context with a median price per square foot: 354, and with price year-over-year trending up, underwrite comparables using the 354 figure while allowing for localized condition adjustments (condition, recent renovations, floorplans).

3. Liquidity appears slower as evidenced by a long median days on market: 170, which suggests slower sales velocity—pricing friction may exist between seller expectations and market-clearing prices, so consider conservative time-to-sale assumptions in deal models and marketing plans.

4. Rental context is subdued: the median market rent: 1,400 combined with a flat rent year-over-year trend (flat) suggests limited near-term upside from rent growth; with elevated interest rate pressure (elevated), favor strategies that emphasize stabilized cash flow and conservative financing terms over aggressive leverage.

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Notable Properties

The following 3 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.