What Should Every Homeowner Selling In Philadelphia Know Right Now?
Short answer: You are stepping into a very different market than the one your friends sold in a few years ago. Prices are still significantly higher than before the pandemic, but buyers finally have more choices and higher borrowing costs, which means your strategy matters more than ever.
Dear Philadelphia Homeowner,
If you are thinking about selling, you are probably hearing a mix of headlines.
Some people say, “The market is cooling.”
Others say, “Prices are still up, so sell now.”
No wonder it feels confusing. My goal in this letter is to cut through the noise and talk to you like I would across a kitchen table, with clear facts, local perspective, and a plan to move forward. That is how I try to show up in every conversation, as the calm in the chaos who keeps things clear and moving.
What The Bigger Market Is Telling Us
Across the country, data coming in from late 2025 is giving us an early preview of how the 2026 market may behave. December is usually a sleepy month for housing, but in recent years it has become an important early signal for the spring.
Here are a few key points from national data that matter for you, even here in Philadelphia:
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Mortgage rates have drifted down toward the six percent range after spending time much higher.
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When rates move toward six percent, buyer activity tends to pick up as more people can qualify and feel comfortable with payments.
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Purchase applications have shown many weeks of year over year growth, a sign that buyers are circling again, even with holiday distractions.
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Inventory is no longer in crisis. National single family inventory is up more than fifteen percent compared with the prior year, which means buyers have more options and sellers have slightly less leverage than during the post-COVID frenzy.
Economists also point out that home values climbed rapidly after the pandemic, roughly twenty plus percent in a short window, while typical appreciation is closer to four percent per year. That surge outpaced wage growth and made affordability a real challenge for first time buyers. As a result, many younger buyers have delayed purchasing, stayed in rentals, or lived with family longer than past generations.
Put simply, prices are up, affordability is tight, and inventory is healing.
What This Means For You As A Philadelphia Seller
So what does all of that actually mean if you are selling a rowhome in South Philly, a twin in the Northeast, or a single on the Main Line?
1. You are likely sitting on significant equity.
If you bought your home before or early in the pandemic, your property has probably appreciated meaningfully. Even with some softening here and there, most owners still have a comfortable equity cushion.
2. You cannot rely on “name your price and wait” anymore.
During the wildest years, you could under prepare, over price, and still end up with multiple offers. Today, buyers are choosier. Higher payments make them more sensitive to condition and value, and more inventory gives them alternatives.
3. Condition and presentation matter again.
Clean, well maintained homes that show beautifully still command strong prices. Homes that feel tired or neglected tend to sit longer or attract bargain hunters.
4. The market is more balanced, not broken.
Some sellers hear “more inventory” and worry that the window has closed. In reality, a more balanced market can be a gift. You may not get twenty offers in two days, but you have a better chance of selling for a solid price and then actually finding your own next home without feeling completely trapped.
Timing Your Sale In 2026
A common question is, “Should I wait until spring?”
Traditionally, spring in Philadelphia brings more buyers, more listings, and more activity. That pattern is still real. What has changed is that buyer demand often starts building earlier than it used to, sometimes in late fall and December, especially when mortgage rates improve.
Here is how I encourage clients to think about timing now:
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Start planning three to six months before you want your home on the market.
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Let the calendar work for you, but do not let it control you. A well prepared, well priced home in February can outperform a sloppy listing in April.
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Focus on your life timeline, not just the market timeline. Retirement, a new job, a growing family, caregiving for a parent, or settling an estate, those milestones should shape your plan. The market is the backdrop, not the main character.
If your ideal move is mid 2026, the planning conversation really starts now.
Three Smart Moves For Sellers To Make Right Now
Whether you plan to list in a few months or later in the year, here are three practical steps you can take today.
1. Get a clear equity and pricing picture.
Instead of guessing based on online estimates or your neighbor’s story from a year ago, ask for a detailed, local market review. We look at:
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How homes like yours are actually selling today.
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How long they are taking.
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What condition and pricing strategies are succeeding.
This gives you a realistic value range so you can make decisions grounded in data, not fear.
2. Decide how much work is worth doing.
Not every project pays off. In this market, the basics still go a long way:
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Clean, decluttered spaces.
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Fresh paint where needed.
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Addressing obvious repairs that would worry a buyer or an inspector.
Together we can decide which upgrades are smart investments and which ones you can skip. The goal is simple, help your home compete strongly against the growing number of listings without overspending.
3. Plan your “where next” strategy.
Selling is only half the story. We also need to plan your next chapter. That might mean:
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Downsizing to a smaller, easier home.
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Moving closer to family or care.
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Shifting equity into investment property.
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Renting for a season while you wait for the right opportunity.
A good real estate plan connects the dots between the sale of your current home and the life you want on the other side.
A Letter From One Human To Another
If you take nothing else from this letter, take this: you are not too late, and you are not stuck. You are in a market that rewards clarity, preparation, and good advice.
Your home is more than an asset. It is the place where chapters of your life have unfolded. Selling it is both a financial decision and an emotional one. You deserve a plan that respects both.
If you are thinking about selling in 2026, start the conversation early. Ask hard questions. Get clear on your numbers. And choose partners who care about where you are going, not just what your home will sell for.
At Next Chapter, we help people build, protect, and pass on wealth through real estate, so their next chapter becomes their best one yet.
