Sales and listings of luxury homes in Delaware County are down this year, but prices are up, writes Michaelle Bond for The Philadelphia Inquirer.
The trend is also seen in the Philadelphia area and nationwide as luxury home prices rise faster than the rest of the market.
“The people buying at the top end are playing by different rules,” said Sheharyar Bokhari, senior economist at Redfin.
The median luxury sale price in the region is about $1.3 million.
People buying at the high end are more likely to pay in cash or take out smaller loans, not as concerned about mortgage interest rates or waiting for prices to fall.
In Philadelphia and Delaware County, 285 luxury homes were sold between July and September. That’s 16 percent less than the same time last year.
The number of active luxury home listings at the end of September was 502, down about 23 percent from last year. That’s the sharpest drop out of 50 metro areas nationwide that Redfin analyzed.
A low supply of homes for sale is the culprit. Luxury homeowners aren’t as likely to need to sell their properties, and the trend is to hold onto multiple luxury homes during economic uncertainty.
Read more about luxury home market trends in The Philadelphia Inquirer.
Editor’s Note: This post was initially published on DELCO.Today in November 2025.
