Spring market 2026 is upon us. After a quieter January and February, the data is starting to tell a familiar story: buyers are coming back, inventory is tight, and if you’re thinking about making a move this year, now is the time to get serious.
Here’s what I’m seeing in the numbers right now.
Buyer Demand Is Rebounding
After dipping to a Home Demand Index score of 46 in January, the Philadelphia metro bounced back to a score of 60 in February, according to the Bright MLS T3 Home Demand Index. That’s a nearly 28% jump in a single month. The index uses 100 as a baseline for a steady market, so we’re still in “limited” territory overall, but that upward swing heading into spring is a meaningful signal.
Nationally, the picture is similar. According to the National Association of Realtors’ January 2026 Confidence Index, 35% of Realtors expect buyer traffic to increase year-over-year in the next three months, up from 26% just a year ago. Sellers are also feeling more confident, with 29% of agents expecting seller traffic to rise. That’s a market finding its footing.
What the Local Numbers Are Telling Us
Zooming in to the neighborhoods I work in most, the micro-market picture is nuanced.
In Northwest Philadelphia (zip codes 19118, 19119, 19127, and 19128, covering Chestnut Hill, Mt. Airy, Roxborough, and Manayunk), the median sold price for January and February came in at $405,000, with homes averaging 42 days on market according to Bright MLS data. Inventory sits at 177 active listings with a months supply of 4.4, which gives buyers a bit more breathing room than they’ve had in recent years but still isn’t a buyer’s market by any stretch.
Montgomery County tells a tighter story. The median sold price for the same period was $440,000, with homes moving in just 36 days. Months of supply there is only 2.6, meaning well-priced homes are still going quickly.
For context, Philadelphia County as a whole is sitting at a median sold price of $269,000 with 6 months of supply, a reminder of how much the market varies depending on where exactly you’re looking.
Philadelphia Is on the Map Nationally
It’s not just local data making the case. Earlier this year, 6abc reported that Zillow named the Philadelphia region the 6th hottest real estate market in the country for 2026. Zillow’s chief economist specifically called out strong home value appreciation, faster sale times, and fewer price cuts as the drivers behind that ranking. Neighborhoods in Bucks County and Delaware County were highlighted, but the fundamentals driving that attention apply across the metro.
Zillow projects home values here will grow another 1.7% this year, on top of the 4% gain in 2025. That’s steady, not speculative, which is a good thing.
What This Means If You’re Buying or Selling
If you’re thinking about selling, the spring window is real. Buyers are re-engaging, and inventory is still historically low in most of the areas I cover. Homes that are priced right and show well are still moving fast.
If you’re a buyer, the NAR data offers something useful: fewer people are waiving inspection and appraisal contingencies right now compared to a year ago (12% and 15% respectively, down from 18% each). That means you have a bit more room to protect yourself in a contract than you did during the peak frenzy years.
Either way, this is a good time to have a conversation. If you want to talk through what the market looks like for your specific situation, reach out and we can grab a coffee.
Data sources: Bright MLS T3 Home Demand Index (February 2026), Bright MLS Market Statistics (January–February 2026), National Association of Realtors Confidence Index Survey (January 2026), 6abc/WPVI (February 4, 2026).