During the month of May 2023, the Philadelphia metro area saw a substantial reduction of 22% in the inventory of real estate offerings, marking a noteworthy decline compared to the same period in the previous year. The total count of available properties reached to 10,310 units in this timeframe.

In contrast, over the same timeframe, there was a 3% uptick in the median sale price of single-family homes in the Philadelphia metro area, when compared to the same period in last year. By May 2023, the median sale price settled at $365,000.

Learn more about the metrics in PropMix Market Insights.

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