November is here and Philadelphia is giving us plenty to talk about — as always! On the real estate side, buyers are seeing more options than they had this time last year while sellers are navigating a market where pricing & presentation matter more than ever. Whether you’re thinking about making a move or just keeping tabs on the city’s holiday festivities, here’s what you should know this month!
🏡 THE PHILADELPHIA REAL ESTATE MARKET: MORE OPTIONS, MORE STRATEGY🏡
The latest numbers suggest that the Philadelphia market is continuing to cool from the pace we’ve seen in recent years — but that doesn’t mean homes aren’t selling.
According to Bright MLS, the Philadelphia metro area’s October Home Demand Index came in at 78, down 7.1% from this time last year. Realtor.com reported that active listings across the Philadelphia-Camden-Wilmington metro reached 13,756 in September, up 14.7% year over year. The median list price was $375,000 and homes spent a median of 49 days on the market.
For buyers, more inventory means more opportunities to compare properties, take a little more time, and potentially negotiate on price or terms. For sellers, it means the days of simply putting a home on the market and expecting a line out the door may be behind us — at least for now.
One important distinction: the city and the broader metro area don’t tell exactly the same story. Within Philadelphia proper, Realtor.com reported 9,596 active listings and a median sold price of $278,618 in September.
The takeaway: Real estate is local and the right strategy depends on your neighborhood, property type, and price point. If you’re buying or selling in Philadelphia, let’s look at the numbers that actually apply to your property — not just the national headlines.
💸 BUYER TIP: DON’T LET INTEREST RATES BE THE ENTIRE CONVERSATION💸
Mortgage rates are still an important part of the affordability equation BUT your interest rate is only one piece of the puzzle.
The Federal Reserve’s latest policy-rate data, updated October 29, shows a federal funds target range of 3.75%–4.00%. Keep in mind that the Fed does not directly set mortgage rates. Mortgage pricing responds to broader financial market conditions, and the rate you qualify for depends on your credit, loan type, down payment, and lender.
If you’re planning to buy, here are three things worth doing before you start touring homes:
- Shop around: Get quotes from more than one lender. A small difference in rate or fees can add up over the life of a loan.
- Ask about assistance: Pennsylvania buyers may qualify for down payment and closing cost programs through PHFA.
- Look beyond the asking price: Seller credits, closing cost assistance, and other negotiated terms can make a meaningful difference to your cash needed at settlement.
And sellers, this matters to you, too. Buyers are looking closely at their monthly payments and total cash needed to close. A well-priced property and a willingness to consider reasonable terms can make your listing stand out.
🍁NEIGHBORHOOD SPOTLIGHT: EAST PASSYUNK🍁
This month, we’re heading to East Passyunk — because great food, independent businesses, and charming Philadelphia rowhomes are a pretty hard combination to beat.
Centered around Passyunk Avenue, this South Philly neighborhood has built a reputation for its restaurant scene, locally owned shops, and strong community feel. It’s walkable, lively, and full of the kind of neighborhood businesses that make Philadelphia special.
Spend an afternoon browsing the shops, grabbing a bite, or checking out the neighborhood’s murals + historic architecture. The housing options are just as varied! You’ll find classic Philadelphia rowhomes to renovated properties and even larger homes tucked along the surrounding residential streets.
If you’re considering buying in South Philadelphia, East Passyunk is absolutely worth exploring. And if you already live nearby, you probably don’t need me to convince you — you know the food alone makes a strong case.
What’s Happening Around Philly This Month?
A few November dates to get on your calendar:
🏃 PHILADELPHIA MARATHON WEEKEND
The Philadelphia Marathon weekend returns November 21–22. Whether you’re running, cheering from the sidelines, or simply trying to avoid the road closures, it’s one of the city’s biggest annual events. Event details.
🛍️ MADE IN PHILADELPHIA HOLIDAY MARKET
Starting November 13, Dilworth Park welcomes local artisans, makers, designers, and small businesses. It’s a great excuse to shop local and find gifts that aren’t another Amazon package. More information.
🎄 CHRISTMAS VILLAGE
Christmas Village returns to LOVE Park beginning November 21, bringing its collection of vendors, food, drinks, and holiday-market atmosphere to Center City. Plan your visit.
🦃 6ABC THANKSGIVING DAY PARADE
The 107th annual Thanksgiving Day Parade takes over the Benjamin Franklin Parkway on November 26 from 9 a.m. to noon. Floats, balloons, marching bands, and the official arrival of Santa — a Philadelphia tradition. Parade details.
🐾 THE NATIONAL DOG SHOW
A weekend of extremely well-groomed dogs takes place November 14–15 at the Greater Philadelphia Expo Center in Oaks. Honestly, probably the most important event on this list. Event information.
For more events, exhibitions, and things to do around the city, check out Visit Philadelphia’s November guide.
❤️ Thank You for Being Part of My Community❤️
Whether you’re buying your first home in Philadelphia, looking for an investment property, selling a Philadelphia home, relocating to the city, or simply trying to understand what your options are– I’m always happy to have a conversation.
Real estate decisions don’t have to start with a commitment. Sometimes they start with a question.
I’ll see you around the neighborhood!
Warmly,
Shqiponja Likaj
Broker/Owner
Shqiponja Likaj Realty
📞 267-474-1668
📧 hello@shippyinthehouse.com
🌐 www.shippyinthehouse.com
