March 2026 Report
Philadelphia Metro
Philadelphia | March 2026
Home Demand Index
The Home Demand Index (HDI) for the Philadelphia metro area stands at 63 for this report period, up modestly from 61 last month but meaningfully below the 73 recorded during the same period one year ago. The month-over-month gain reflects early seasonal reactivation as buyer attention increases entering spring, though the pace of recovery remains muted relative to prior-year benchmarks. A ten-point year-over-year deficit indicates the Philadelphia market is operating in a softer demand environment than last spring, with affordability pressures and financing sensitivity continuing to constrain buyer engagement across segments.
Demand by home type in Philadelphia reflects broad softening relative to last year, though most segments are showing modest month-over-month improvement as the spring season begins. Entry-level single-family homes registered an index of 59, down from 64 last month and below the 73 posted one year ago, indicating that affordability constraints are bearing most heavily on first-time buyers in this market. Mid-range single-family homes edged up to 54 from 53 last month but remain well below last year’s 60, suggesting move-up activity is stabilizing at a subdued level with limited near-term acceleration. Luxury single-family homes posted 39, up from 33 last month but trailing last year’s 51 by a notable margin, pointing to cautious high-end engagement and ongoing hesitancy among discretionary buyers in the upper tier. Entry-level condos advanced to 95 from 88 last month, though they remain below last year’s 99, continuing to represent one of the more resilient demand categories as affordability-focused buyers seek lower-maintenance alternatives. Luxury condos improved to 91 from 82 last month but sit below last year’s 122, reflecting a meaningful year-over-year cooling in premium attached demand that warrants continued monitoring. Townhouses and twin homes rose to 76 from 72 last month, though still below last year’s 87, with the segment’s value proposition sustaining a stable base of buyer interest as spring activity gradually builds.
Monthly Statistics for March 2026
Home Demand
Index
Index
63
(Limited)
Home Demand Index
from prior month
from prior month
61
Home Demand Index
from prior year
from prior year
73
Index change
from prior month
from prior month
3.3%
Index change from
same time last year
same time last year
-13.7%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Home Demand Index | Historical Year-over-Year Comparison
Over the past 12 months, Philadelphia’s Home Demand Index followed a trajectory broadly similar to the prior year but at a consistently lower level‚ peaking in the mid-to-upper 80s during spring and early summer before declining sharply into the winter, bottoming at 47 in December and recovering gradually through January and February. The current reading of 63 continues that rebound but trails the 73 posted at this point last year by ten points, reflecting a shallower recovery arc than the prior-year spring. The line chart reveals a market that has moved through the seasonal trough but has yet to develop the upward momentum seen in early 2025, with affordability and rate conditions acting as a sustained headwind on demand velocity.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Home Demand Map
Regional demand across the Philadelphia metro shows characteristic variation, with suburban Pennsylvania counties generally outperforming the urban core and southern New Jersey submarkets. Montgomery, Bucks, Chester, Philadelphia, and Delaware counties are tracking above the metro-wide index of 63, supported by established move-up demand and relative inventory depth. Camden and Gloucester county submarkets in New Jersey remain at Limited levels, where affordability challenges, denser urban inventory dynamics, and more cautious buyer sentiment are suppressing engagement relative to the broader metro.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Demand and Inventory by Home Type
Demand by home type in Philadelphia reflects broad softening relative to last year, though most segments are showing modest month-over-month improvement as the spring season begins. Entry-level single-family homes registered an index of 59, down from 64 last month and below the 73 posted one year ago, indicating that affordability constraints are bearing most heavily on first-time buyers in this market. Mid-range single-family homes edged up to 54 from 53 last month but remain well below last year’s 60, suggesting move-up activity is stabilizing at a subdued level with limited near-term acceleration. Luxury single-family homes posted 39, up from 33 last month but trailing last year’s 51 by a notable margin, pointing to cautious high-end engagement and ongoing hesitancy among discretionary buyers in the upper tier. Entry-level condos advanced to 95 from 88 last month, though they remain below last year’s 99, continuing to represent one of the more resilient demand categories as affordability-focused buyers seek lower-maintenance alternatives. Luxury condos improved to 91 from 82 last month but sit below last year’s 122, reflecting a meaningful year-over-year cooling in premium attached demand that warrants continued monitoring. Townhouses and twin homes rose to 76 from 72 last month, though still below last year’s 87, with the segment’s value proposition sustaining a stable base of buyer interest as spring activity gradually builds.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Single Family Home Below $365k
The index for entry-level single-family homes in Philadelphia stands at 59 this report period, down from 64 last month and meaningfully below the 73 recorded one year ago. The month-over-month decline signals that first-time and value-driven buyers have not yet re-engaged at the pace typically associated with early spring, likely reflecting the compounded effect of limited affordable inventory and persistent payment sensitivity. The fourteen-point year-over-year gap underscores that this segment is operating at a substantially weaker level than last March, with affordability stress at the entry tier remaining the most significant constraint on demand recovery in the Philadelphia market.
Monthly Statistics for Single Family Home Below $365k
Home Demand
Index
Index
59
(Limited)
Home Demand Index
from prior month
from prior month
64
Home Demand Index
from prior year
from prior year
73
Months of
inventory
inventory
2.7
Average daily inventory last month
1,003
Inventory sold
last month
last month
375
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Single Family Home $365k - $805k
Mid-range single-family homes in Philadelphia registered an index of 54 this report period, up marginally from 53 last month but below last year’s reading of 60. The near-flat month-over-month movement suggests move-up buyer activity has stabilized at a subdued level following the winter slowdown, without yet demonstrating the spring acceleration evident in stronger prior-year periods. The six-point year-over-year shortfall reflects a market where qualified move-up households remain engaged but selective, weighing affordability trade-offs carefully against current financing costs and available inventory.
Monthly Statistics for Single Family Home $365k - $805k
Home Demand
Index
Index
54
(Limited)
Home Demand Index
from prior month
from prior month
53
Home Demand Index
from prior year
from prior year
60
Months of
Inventory
Inventory
2.6
Average daily inventory last month
2,212
Inventory sold
last month
last month
850
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Single Family Home Above $805k
The index for luxury single-family homes in Philadelphia stands at 39 this report period, up from 33 last month but well below last year’s reading of 51. While the month-over-month improvement indicates some reactivation among high-end buyers entering the spring season, the absolute index level of 39 places this segment in a notably soft demand range relative to both prior-period benchmarks and the broader metro. The twelve-point year-over-year decline suggests luxury buyers in the Philadelphia market are exercising heightened selectivity, with transaction volume likely concentrated among a narrower pool of motivated, well-capitalized purchasers.
Monthly Statistics for Single Family Home Above $805k
Home Demand
Index
Index
39
(Limited)
Home Demand Index
from prior month
from prior month
33
Home Demand Index
from prior year
from prior year
51
Months of
Inventory
Inventory
4.2
Average daily inventory last month
643
Inventory sold
last month
last month
152
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Condo Below $425k
Entry-level condo demand in Philadelphia stands at 95 this report period, up from 88 last month and slightly below last year’s level of 99. The month-over-month gain reflects growing buyer interest in more accessible, lower-maintenance housing options as spring demand begins to build across the metro. The modest year-over-year softening indicates some normalization from last spring’s pace, though at 95 this segment continues to outperform all single-family tiers in the Philadelphia market, reinforcing condos’ role as a primary affordability outlet for buyers navigating elevated home prices and financing costs.
Monthly Statistics for Condo Below $425k
Home Demand
Index
Index
95
(Steady)
Home Demand Index
from prior month
from prior month
88
Home Demand Index
from prior year
from prior year
99
Months of
Inventory
Inventory
4.9
Average daily inventory last month
957
Inventory sold
last month
last month
194
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Condo Above $425k
Luxury condo demand in Philadelphia registered 91 this report period, up from 82 last month but notably below last year’s level of 122. The month-over-month rebound suggests renewed activity among affluent condo buyers as the spring market opens, consistent with lifestyle-driven demand patterns in this tier. The thirty-one-point year-over-year decline is significant, however, and may reflect a combination of pricing recalibration, reduced investor participation, or a broader shift in high-end buyer preferences following an elevated prior-spring period‚ a divergence that warrants continued monitoring heading into peak season.
Monthly Statistics for Condo Above $425k
Home Demand
Index
Index
91
(Steady)
Home Demand Index
from prior month
from prior month
82
Home Demand Index
from prior year
from prior year
122
Months of
Inventory
Inventory
6.2
Average daily inventory last month
223
Inventory sold
last month
last month
36
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2026
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses and twin homes in Philadelphia stands at 76 this report period, up from 72 last month and below last year’s level of 87. The month-over-month improvement signals building buyer momentum in the attached single-family segment as spring conditions take hold, consistent with this category’s appeal among buyers seeking a combination of space, location, and relative price efficiency. The eleven-point year-over-year gap reflects a softer overall demand environment than last spring, though the segment’s value positioning and established neighborhood presence continue to support a stable floor of buyer engagement across the metro.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
76
(Slow)
Home Demand Index
from prior month
from prior month
72
Home Demand Index
from prior year
from prior year
87
Months of
Inventory
Inventory
4.7
Average daily inventory last month
5,553
Inventory sold
last month
last month
1,187
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Note
1. This report is generated with data from the following counties:
- Central Pennsylvania – Adams, PA; Berks, PA; Cumberland, PA; Dauphin, PA; Franklin, PA; Fulton, PA; Lancaster, PA; Lebanon, PA; Perry, PA; Schuylkill, PA; York, PA;
- Ocean County – Ocean, NJ;
- Philadelphia Metro – Bucks, PA; Burlington, NJ; Camden, NJ; Chester, PA; Delaware, PA; Gloucester, NJ; Kent, DE; Mercer, NJ; Montgomery, PA; New Castle, DE; Philadelphia, PA;
- Salem-Cumberland – Cumberland, NJ; Salem, NJ;
2. This report is for the March 2026 period with data collected from the previous month.
Released: March 10, 2026
Reference ID: 2391
Philadelphia | March 2026
Home Demand Map (Zip Codes)
Regional demand across the Philadelphia metro shows characteristic variation, with suburban Pennsylvania counties generally outperforming the urban core and southern New Jersey submarkets. Montgomery, Bucks, Chester, Philadelphia, and Delaware counties are tracking above the metro-wide index of 63, supported by established move-up demand and relative inventory depth. Camden and Gloucester county submarkets in New Jersey remain at Limited levels, where affordability challenges, denser urban inventory dynamics, and more cautious buyer sentiment are suppressing engagement relative to the broader metro.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com