Philadelphia, PA 19104 Real Estate Market Report

ZIP Code: 19104
Report Date: February 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

As of February 2026, the real estate market in Philadelphia, PA (ZIP: 19104) is characterized by a median sold price of $210,000, reflecting a significant decrease in market value. This decline suggests a shift in buyer sentiment and market dynamics, contrasting with broader regional trends that show consistent price increases. The neighborhood has decreased 8% since 2022, indicating a challenging environment for sellers as they navigate a market that appears to be balancing out with more moderate sales activity.

The current market conditions reveal 247 days as the median days on market, which points to a slower sales velocity and potential pricing friction. Elevated inventory levels are evident, with a notable gap between the median listing price of $309,999 and the median sold price, suggesting that sellers may need to adjust expectations to align with buyer demand. Overall, the market is experiencing a cooling phase, with elevated interest rate pressure contributing to this trend.

---

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.

---

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.

---

Rental Market

false

---

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.

---

Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Philadelphia market average around 6.04% to 6.375% as of late February 2026, which is slightly higher than the 6.10% average seen earlier in the month, indicating property owners locked in a favorable rate if their 2026 origination was at the lower end.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

---

Key Findings

1. The median sold price of $210,000 indicates a significant pricing gap compared to the median listing price of $309,999, suggesting potential pricing friction for sellers.

2. With 247 days as the median days on market, the market is experiencing slower sales velocity, which may indicate a need for sellers to adjust their pricing strategies.

3. The neighborhood has decreased 8% since 2022, reflecting a shift in market dynamics and buyer sentiment.

4. Elevated inventory levels relative to sales activity suggest a market that is balancing out, with excess supply impacting pricing.

5. Current median market rent is $1,789, indicating stable rental prices amidst the broader market fluctuations.

---

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.