Philadelphia's most expensive neighborhoods in 2024
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The median home sale price in Philadelphia's most expensive neighborhood was $751,000 last year — up nearly 7% from 2023, per Bright MLS data.
Why it matters: Housing prices hit a two-year high last year as some buyers were active in certain parts of the city and undeterred by high interest rates.
The big picture: The median sale price of homes in Philly proper was $265,000 in 2024, up nearly 4% over the previous year, per Bright MLS.
- Home sales saw a slight 0.5% dip in the city last year.
State of play: Chestnut Hill was the city's priciest 'hood in 2024.
- Sales in the affluent area — known for its bustling commercial corridor, historic charm and sprawling mansions — jumped nearly 11% over the previous year.
The next most expensive 'hoods were those in the 19123 ZIP code — including Northern Liberties, East Poplar and West Poplar — with a median home sale price of $525,000.
- The gentrified Northern Liberties is seeing a residential development boom.
The fine print: The Bright MLS data is based on ZIP codes with at least 10 sales annually.
Zoom in: Philly's top 10 priciest neighborhoods remained relatively the same from 2023 to 2024, but there were some position changes.
- The neighborhoods that include Old City, Center City East and parts of Society Hill came in at No. 7 on the top 10 list, moving up two spots from 2023.
What we're watching: The region is primed to be one of the hottest real estate markets in the U.S. in 2025, per Zillow.
- But while its housing inventory is up 5.5% from last year, it's still far below pre-pandemic levels, experts warn.