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

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Executive Overview

The median sold price in Philadelphia, PA (ZIP: 19104) is $209,900, reflecting a significant price point for recent transactions. Despite the broader market showing an upward trend, the specific area has experienced unusual volatility, leading to a notable price decline. This divergence suggests a complex local market dynamic that may not fully align with regional trends, which indicate a hot seller's market overall.

Market activity appears to be characterized by elevated inventory levels, with a substantial gap between the median listing price of $309,999 and the median sold price. This discrepancy may indicate pricing friction, as sellers may need to adjust expectations to align with buyer sentiment. The median days on market stands at 247, suggesting slower sales velocity and a potential need for strategic pricing adjustments to stimulate activity.

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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 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 5.88% APR, which is 0.14% higher than the average rate seen just one week ago in February 2026.

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

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Key Findings

1. The median sold price of $209,900 indicates a significant gap from the median listing price of $309,999, suggesting potential pricing friction in the market.

2. With 247 days on market, properties are experiencing slower sales velocity, which may require sellers to reassess their pricing strategies.

3. The market temperature is classified as hot, indicating strong demand despite the local price volatility.

4. The median market rent of $1,789 shows an upward trend, reflecting ongoing rental demand in the area.

5. Interest rate pressure is currently moderate, which may influence buyer behavior and market dynamics in the near term.

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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.