Philadelphia, PA 19121 Real Estate Market Report

ZIP Code: 19121
Report Date: February 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

The median sold price in Philadelphia, PA 19121 is $199,999, reflecting a strong demand in the market. This area has seen consistent price appreciation, with the market classified as hot. Despite the elevated inventory levels, the continued buyer interest indicates a competitive environment, as evidenced by the 209 days on market, suggesting that while sales are occurring, they may take longer to close compared to previous periods.

Current conditions show a notable gap between the median listing price of $229,950 and the median sold price, which may indicate seller expectations are not fully aligned with buyer willingness to pay. This discrepancy, combined with the 1.3998% property tax rate and a robust rental market with a median market rent of $1,789, suggests potential opportunities for both investors and homebuyers in navigating this dynamic market landscape.

---

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

---

Property Taxes

---

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 near 6.00% in Philadelphia, PA 19121 are slightly lower than the 6.18% average observed in late January 2026, suggesting a minor cost advantage for recent borrowers.

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 is $199,999, indicating strong market demand despite elevated inventory levels.

2. With a median listing price of $229,950, there is a notable gap between asking and selling prices, suggesting potential pricing friction.

3. The market is classified as hot, reflecting ongoing buyer interest and competitive conditions.

4. The median days on market stands at 209, indicating slower sales velocity and potential challenges in aligning buyer and seller expectations.

5. The median market rent is $1,789, supporting robust rental demand in the area, which may attract investors.

---

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.