Chestnut Hill is still sitting pretty at the top of Philadelphia’s priciest neighborhoods, with homes there changing hands at prices that leave most of the city in the dust. The divide between the highest-priced pockets and the broader market has grown so wide that many buyers are effectively shut out of certain sections of town.
Neighborhoods at the Top
According to Axios Philadelphia, which drew on Bright MLS data, Chestnut Hill’s median sale price was $751,000 in 2024, which is roughly a 7 percent increase from 2023. The Bright MLS figures show the median sale price across Philadelphia proper was $265,000 in 2024, up nearly 4 percent from the prior year.
The next tier included ZIP code 19123, covering Northern Liberties, East Poplar and West Poplar, which posted a $525,000 median in 2024, up from $475,000 the year before. Queen Village, Bella Vista, Hawthorne and Passyunk Square grouped together around a $510,000 median, according to PHILADELPHIA.Today.
Point Breeze, Grays Ferry and Southwest Center City fell in the middle of the top ten with a $435,000 median in 2024, a bit lower than 2023’s $473,000. Overall the ten priciest neighborhoods were mostly unchanged year-over-year, according to PHILADELPHIA.Today.
What This Means For Buyers
Zillow Research ranked Philadelphia among the nation’s hotter markets in its 2025 outlook, a signal that demand could keep upward pressure on prices in coveted ZIP codes. That mix of competition and constrained supply helps explain why the priciest pockets keep hitting half-a-million-dollar medians while large parts of the city remain far cheaper.
Looking Ahead
Put simply, buyers who want Chestnut Hill or the 19123 cluster should budget well north of $500,000, whereas other neighborhoods still trade closer to the city median. For a neighborhood-by-neighborhood rundown of the Bright MLS figures, see the summary in PHILADELPHIA.Today.
