Philadelphia Real Estate Market Overview

By Robin Rothstein

(Last Updated – 4/2025)

There’s a lot to love about the City of Brotherly Love. For starters, U.S. News & World Report ranks Philadelphia as the 135th best place to live in America and the 85th best place in America to retire.

When it comes to actually living in Philadelphia, the cost of living is 3.3% higher than the national average, according to the Council for Community and Economic Research’s 2024 Cost of Living Index, but is far less than nearby metro areas like Washington, D.C., and New York City. The median Philadelphia home sale price is also significantly lower, at $250,000, as of February 2025. (Prices rise significantly when you include the city’s suburbs, however.) The national median sale price for the same month was significantly higher, at $424,810, according to Redfin.

Recommended: Cost of Living in Pennsylvania

Residents need to bundle up during the chilly winters, but they can take advantage of all of Philadelphia’s outdoor spaces in the other seasons. Of course, this city is best known for Philly cheesesteaks, but there is also a smorgasbord of food trucks, restaurants, and beer gardens for locals to satisfy their cravings. If this sounds appealing, read more about home ownership.

Keep reading to learn more about the Philadelphia real estate market, popular neighborhoods, and housing prices.

Overall Philadelphia Market Trends

The real estate pros at Redfin find the Philadelphia housing market to be somewhat competitive; homes sell in an average of 67 days.

Some homes receive multiple offers. On average, homes sell for 3% below list price. One way to gain an advantage in the market is to seek mortgage preapproval so you’re prepared with mortgage financing when you see a property you love.

Philadelphia Housing Market Forecast

Philadelphia’s housing market is one to follow, with strong signs of buyer competition in its future.

According to Zillow, Philadelphia median home prices rose by 3.9% over the past year. Zillow has also predicted that Philly will be the fifth most competitive metro area for homebuyers in 2025. So who’s scooping up homes in Philadelphia? Generation Z, for one, has been fueling part of the demand. Philadelphia has reportedly been among the top five cities for Gen Z homebuyers 25 and younger in recent years, and Gen Z home seekers are expected to continue to play a strong role in Philadelphia’s housing market. Bars and sports venues, commute options, and access to parks all play a role in Philly’s appeal.

Demographics of the Philadelphia Market

Popular Philadelphia Neighborhoods

Philadelphia is known as being a “city of neighborhoods,” and there are tons of distinct areas to explore, from the bustling downtown to a veritable museum row.

Homebuyers may want to check out popular neighborhoods in Philadelphia. Here are demographics, characteristics, and housing prices in five.

University City

University City lies in the heart of West Philadelphia and is named for being an academic epicenter of the region. Two distinguished campuses, the University of Pennsylvania and Drexel University, are here.

Alongside great education opportunities are nationally renowned medical hubs that serve multiple disciplines. Museums, galleries, festivals, and performance spaces can also be found in this dynamic neighborhood.

University City Housing Market

Rittenhouse Square

Rittenhouse Square is considered to be an oasis in the midst of a bustling city. This pretty neighborhood attracts some of Philadelphia’s chicest residents, as well as students and young professionals.

From shopping to dining to quiet walks on tree-lined streets, Rittenhouse Square can give residents a taste of whatever it is they’re looking for.

Rittenhouse Square Housing Market

Bella Vista

Nice view indeed.

This area was settled by Italian immigrants, and today visitors and locals alike flock to the famous 9th Street Italian Market, which is the oldest operational open-air market like it in America.

Today residents come from near and far, and diversity is celebrated.

Bella Vista Housing Market

Old City

History buffs will love Old City, as this is the place where the Declaration of Independence was signed.

This neighborhood is known for embracing its historic past and looking to the future. Lying next to the Delaware River, Old City can offer residents everything they’re seeking, from culture to art to more historic spots than they’ll know what to do with.

While many are drawn to Old City for its reputation as the nation’s most “historic square mile,” modern nightlife and hip restaurants are also plentiful.

Old City Housing Market

Washington Square West

Modernity meets historic charm in Washington Square West, where cobblestone streets are nestled around luxe high-rise condos.

For those who like to do a little shopping on the weekends, this area specializes in jewelry, antiques, and artwork. Or you can spend time at the beloved Washington Square Park in the northeast corner of the neighborhood.

Washington Square West Housing Market

San Francisco Real Estate Market Overview

By Robin Rothstein

(Last Updated – 04/2025)

The City by the Bay is an alluring town known for its amazing food, gorgeous architecture, and beloved sports teams. Not to mention, those stunning bay views.

This city may have a lot of cool, gloomy days, but the San Francisco housing market is very hot, even as the city’s cost of living is 66.8% above the national average.

The San Francisco median sale price rose 1.7% year over year as of February 2025, indicating this city has a hot housing market. For an average family of four, some experts estimate that they would need to earn as much as $339,123 annually to live in San Francisco comfortably.

While living in San Francisco is expensive, the city has a lot to offer that might make the cost worth it. Alongside amazing career opportunities in the tech world and other major industries, there is plenty of art, music, food, and fashion to enjoy in this somewhat small but very metropolitan city.

San Francisco is beloved for its diversity, so if you do look into buying there, make sure to take advantage of all of the city’s quirks.

Overall San Francisco Market Trends

As local trends go, the real estate experts at Redfin consider the San Francisco housing market to be very competitive.

Homes for sale in this area generally receive multiple offers, sell for 5% above asking price, and go pending in around 21 days.

Demographics of the San Francisco Market

Popular San Francisco Neighborhoods

While the actual number of neighborhoods is heavily debated by San Francisco residents, there are about 20 popular neighborhoods to choose from.

Each neighborhood has something special to offer, so it will be challenging to narrow your choices. To help, we rounded up some fast facts about five of the most popular neighborhoods in San Francisco to consider if you’re contemplating a purchase and taking out a home loan.

Buena Vista

If you’ve always dreamed of having your own room with a view, then you’re in luck. The Buena Vista neighborhood is perched on one of San Francisco’s notoriously steep hills, providing residents with great views.

This neighborhood provides a safe haven from the hectic city, as it is low on commercial street traffic and high on greenery.

Buena Vista Housing Market

Outer Sunset

Outer Sunset is another San Francisco neighborhood that offers a tranquil feel.

This almost suburban neighborhood is right next to the Pacific Ocean, which means there is a lot of outdoor fun to be had — especially if you love to surf. Residents also say they appreciate the parks; the array of bars, restaurants, and cafes; and the solid school system.

Outer Sunset Housing Market

South of Market

San Francisco’s South of Market District, commonly called SoMa by locals, has become the home of many tech startups in recent years.

This neighborhood has something for everyone, from Michelin star restaurants to a trusty Trader Joe’s. It is also near other popular neighborhoods like the Design District, which expands your options for food, entertainment, and shopping.

South of Market Housing Market

Pacific Heights

Some refer to Pacific Heights as the quintessential San Francisco neighborhood. Many grand Victorian homes grace Pacific Heights, and the neighborhood offers great views of the bay and the Golden Gate Bridge. Residents say it’s safe, has a few great parks, and street parking isn’t as difficult as elsewhere in the city.

Pacific Heights Housing Market

Haight-Ashbury

The name Haight-Ashbury might ring a bell: It was the epicenter of the 1960s counterculture movement.

While many people like what they describe as the “funky” and “bohemian” vibe, others point out the number of tourists in the neighborhood, plus some of the same issues (panhandling) you’ll find elsewhere in the city.

Haight-Ashbury Housing Market

Portland Real Estate Market Overview

By Robin Rothstein

(Last Updated – 04/2025)

While Portland is a large metro area, it isn’t like most cities you’ve come to know. Portland has all of the amenities of a big city but also offers a relaxed vibe.

Biking is extremely common, as are backyard bees and chickens. Fresh honey or eggs, anyone?

This sprawling Oregon city has over 630,000 residents, according to the latest census data. Most adults in Portland work and the median household income is $88,792.

The typical home sale price in Portland was $510,000 in February 2025, according to Redfin, which is almost $100,000 higher than the home sale price nationwide, but far lower than the average home sale price in Seattle.

If you’re family oriented, don’t worry. There are over 200 schools here, including public, private, and charter options.

Overall Portland Market Trends

If you’re looking to buy in the Portland housing market, you’re entering a somewhat competitive market, with homes spending less time on the market than they did last year and typically selling for their list price.

Once you find a house that you love, you’ll need to act fairly quickly. Redfin reports that “hot” houses in Portland generally go pending in just six days and sell for 2% over the asking price. Read more about home ownership.

Portland Housing Market Forecast

The Portland, Oregon, real estate market has warmed a bit in the last year, with prices rising and time on market shrinking. Homes are selling for their list price as well. An early 2025 housing needs analysis found that much of Oregon, not only Portland, is in the middle of a housing affordability crisis.

Demographics of the Portland Market

Popular Portland Neighborhoods

There are almost 100 neighborhoods to choose from in Portland, which could make house shopping a challenge, especially if you’re new to the area.

Which is why we put together some fast facts about a few of the bigger neighborhoods.

Powellhurst-Gilbert

Part of the appeal of moving to Portland is having nature all around. The Powellhurst-Gilbert neighborhood in particular has a lot of parks to choose from — including the 23-acre Kelly Butte Natural Area, which is known for its hiking trails and picnic areas.

This diverse neighborhood is also a foodie’s paradise, with ethnic restaurants and plenty of grocery stores.

Powellhurst-Gilbert Housing Market

Hazelwood

If you’re looking for all the benefits of living in a city while enjoying a suburban vibe, consider Hazelwood. This neighborhood is near some busier parts of Portland but remains a quiet residential area.

Commuting to other parts of the city is easy, but there’s a decent number of shops and businesses within the neighborhood if you prefer staying close by.

Hazelwood Housing Market

Lents

Lents is a super fun neighborhood only 6 miles from downtown Portland. Lents Park is particularly entertaining thanks to its basketball and tennis courts, play areas for dogs, and playgrounds.

When you need a break from all the activity, stop by one of the local breweries or cafes for a rest and a refreshing drink.

Lents Housing Market

Montavilla

For a bit of the classic Portland vibe, head to Montavilla. On the east side of Portland, this neighborhood is packed with cool businesses, including a historic movie theater and some of the best Middle Eastern food around.

Montavilla Housing Market

Cully

Cully is one of the more diverse neighborhoods in Portland, and it’s convenient for commuters as there is easy access to I-205 and I-84.

If you’re going to tour the neighborhood while looking for a home, make sure to stop by one of the many delicious eateries Cully has to offer.

If you’re going to tour the neighborhood while looking for a home, make sure to stop by one of Cully’s many eateries that offer a wide array of cuisines from around the world.

Cully Housing Market

Tampa Real Estate Market Overview

By Robin Rothstein

(Last Updated – 04/2025)

When we think of Tampa, we think of fun. This Florida city brims with attractions, arts and culture, business, and sports. Tampa is home to the famed Busch Gardens theme park, an aquarium and zoo, and the popular Riverwalk.

Naturewise, there are plenty of parks, dog parks, greenways and trails, skate parks, water activities, and marinas. Sports fans in the Tampa Bay area can root for the Buccaneers, Lightning, and Rays.

Tampa is the 53rd largest city in the United States and the 3rd largest city in Florida, which may be why it has so much to offer. That said, if residents need to get away, Tampa International Airport and the Port of Tampa, a popular spot for those looking to board a cruise ship, will get them where they need to go.

The average home value in Tampa is $374,105, according to Zillow, with home prices down 1.3% over the past year. In comparison, the average price in the U.S. is currently lower than Tampa at $357,138, which is up 2.6% from the previous year.

If you’re thinking of moving to Tampa or buying property in Tampa, you’ll want to check out our assessment of the home-buying, demographic, and market trends in the area.

Overall Tampa Market Trends

Tampa is currently in a cooling period after years of rapid growth. However, according to U.S. News & World Report, it’s still considered a hot housing market, ranking #14 in the nation as of 2025.

As U.S. housing markets go, the industry pros at Redfin consider Tampa to be a somewhat competitive one. Some homes for sale receive multiple offers. Listings typically sell for around 4% below list price and stay on the market for only about 45 days.

Demographics of the Tampa Market

Popular Tampa Neighborhoods

Tampa features bustling urban-style neighborhoods with great restaurants and nightlife, suburban family-friendly neighborhoods, and areas with historical charm.

Here are details about five popular Tampa neighborhoods and what their real estate markets look like.

Harbour Island

Harbour Island is an upscale, waterfront neighborhood located just south of downtown Tampa, offering a blend of luxury living and urban convenience. Connected to the city by the Harbour Island Bridge and the Riverwalk, this exclusive community features high-rise condos, townhomes, and private estates, many with stunning views of Tampa Bay and the city skyline.

Residents enjoy a tranquil, resort-like atmosphere while being just minutes from top attractions like Amalie Arena, Sparkman Wharf, and the Tampa Convention Center. The neighborhood boasts gated communities, private marinas, and lush landscaping, along with walkable access to shops, fine dining, and scenic waterfront trails.

Harbour Island Housing Market

Palma Ceia

For a taste of Europe, try Palma Ceia. This charming neighborhood is beloved for its European-style brick streets and arts scene, and there are plenty of cafes, coffee shops, and chic boutiques to choose from.

Families are drawn to Palma Ceia for its highly rated public schools. The community exudes a friendly and welcoming atmosphere, making it a desirable place to live for those seeking a blend of historical charm and modern conveniences in Tampa.

Palma Ceia Housing Market

North Hyde Park

North Hyde Park is a dynamic, up-and-coming neighborhood that blends historical charm with modern development. Located just west of downtown and adjacent to the University of Tampa, this area is gaining popularity among young professionals, students, and families seeking proximity to the city’s core without the high price tag of neighboring South Tampa.

Residents enjoy easy access to the Riverwalk, trendy restaurants, coffee shops, and cultural spots. With its walkability, growing amenities, and a strong sense of community, North Hyde Park is quickly becoming one of Tampa’s most desirable places to live.

North Hyde Park Housing Market

West Meadows

West Meadows is a master-planned community located in the New Tampa district of Tampa, Florida. Situated northeast of downtown Tampa, it offers residents a suburban environment with convenient access to urban amenities.

The neighborhood is comprised of twelve distinct villages, each featuring a variety of housing options, including single-family homes, townhomes, and maintenance-free villas, with both gated and nongated configurations.

West Meadows Housing Market

Oakford Park

Oakford Park is a historic neighborhood that features a mix of architectural styles, including mid-century homes and newer construction. Residents enjoy a sparse urban feel, with numerous bars, restaurants, coffee shops, and parks contributing to a vibrant community atmosphere. The population is diverse, encompassing young professionals, families, and retirees.

Oakford Park is both family-friendly and dog-friendly. Residents appreciate the convenient location, which offers access to various amenities and highly rated public schools.

Oakford Park Housing Market