Philadelphia, PA 19103

That's the average rate borrowers locked on October 26, 2026, from Optimal Blue's index of actual rate locks. On the median-priced home here, $452,000 with 10% down, it comes to $2,761 a month in principal and interest.

The typical home here costs $368 a month less than it did a year ago.

A year ago the median list price was about $570,000 and the 30-year rate was 6.16%: $3,129 a month with 10% down. Now it's $452,000 at 7.20%: $2,761.

Put the other way, last year's $3,129 a month buys about a $512,000 home at the latest rate.

On a typical day in September, 167 homes were for sale: 1.8% fewer than in August and 22% fewer than a year ago. During the month 68 new listings came on, and on a typical day 39 homes were under contract.

Homes spent a median of 93 days on the market, the same as a year ago. Sellers cut the price on 12% of listings, down 1 point from a year ago. The median list price was $452,000, or $486 a square foot: up 4.6% from August and down 21% from a year ago.

Balanced market. Judged on 23 homes under contract for every 100 for sale, 93 days on the market and price cuts on 12% of listings.

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