Selling Your Home in Philadelphia: The Complete Guide

Plan for roughly 7% to 9% of the sale price in total selling costs. The largest pieces are the real estate commission (historically around 5% to 6%, though now fully negotiable) and your closing costs. In Philadelphia, closing costs run higher than in many markets because sellers customarily pay half of the city's 4.578% realty transfer tax, which is about 2.3% of the sale price on its own.

Add title and settlement fees, any agreed buyer concessions, and prorated property taxes. A net-proceeds estimate from your agent shows what you'll actually walk away with after your mortgage is paid off.

The right price comes from a comparative market analysis (CMA): what similar nearby homes actually sold for in the last few months, adjusted for your home's size, condition, and features. Online estimates are a rough starting point, but they miss the block-by-block differences that matter so much in Philadelphia.

Pricing accurately from day one matters most, because in the current market, homes priced too high tend to sit and then sell for less than well-priced ones do. I'll prepare a CMA for your home and walk you through the comparable sales so your price is grounded in real data.

There's no set or "standard" commission; it's fully negotiable. Historically, total commissions ran around 5% to 6% of the sale price, split between the listing side and the buyer's side. Since the August 2024 industry changes, the buyer's-agent portion is now negotiated separately rather than assumed, so the structure is more flexible than it used to be.

What you pay your listing agent, and whether you offer anything toward the buyer's agent, are both open to discussion. I'm glad to explain exactly what my services include and how the fee is structured before you commit to anything.

No, not anymore. Since the August 2024 changes, sellers are no longer required to offer compensation to the buyer's agent, and it can't be advertised on the MLS the way it once was, so it's now your decision. That said, many Philadelphia sellers still choose to offer a buyer-agent concession (often around 2% to 3%) because it widens the pool of buyers who can afford your home; most buyers are stretched on cash and gravitate toward homes where their agent's fee is covered. Whether to offer it, and how much, is a strategy call we'd make together based on your home and the current market.

It depends on your neighborhood, price, and condition, but as of 2026, homes in Philadelphia are taking longer to sell than during the recent frenzy, often around two months on market, with the city overall having shifted toward a more balanced, buyer-friendlier market. The hottest neighborhoods, like Rittenhouse, Point Breeze, and Northern Liberties, still move faster.

The two biggest levers you control are pricing it right from the start and presenting it well, since correctly priced, well-prepared homes consistently sell faster and for more. I can give you a realistic timeline based on recent sales in your specific area.

Not necessarily, but it pays to be strategic. Focus on inexpensive fixes with high visual payoff (paint, deep cleaning, decluttering, minor repairs, and curb appeal) rather than major renovations, which rarely return their full cost. Do address obvious red flags or safety issues, since those scare buyers and tend to surface in inspection anyway. For bigger-ticket items, you can often choose between fixing them, pricing the home to reflect them, or offering a credit. I'll walk through your home with you and point out which repairs are worth making and which to leave alone.

It's optional, but it can be a smart move. A pre-listing inspection lets you find and address problems on your own timeline, before a buyer's inspector finds them and uses them to renegotiate. It can reduce surprises, support your asking price, and make for a smoother transaction.

The tradeoff is that anything it uncovers may become something you're then required to disclose. Whether it's worth it depends on your home's age and condition, so weigh it case by case. Older Philadelphia homes often benefit the most from going in with eyes open.

Pennsylvania law requires most home sellers to complete a Seller's Property Disclosure Statement before signing an agreement of sale. It's a detailed form covering known material defects and the condition of the home's systems, structure, roof, water, and more. The rule is straightforward: you must disclose problems you know about honestly, though you aren't required to go hunting for issues you're genuinely unaware of. Failing to disclose a known defect can create legal liability after the sale, so accuracy matters. Your agent provides the form and helps you complete it correctly.

Yes, and that's how most homes are sold. At closing, your remaining mortgage balance (the payoff) is paid directly out of the sale proceeds before you receive the rest, so you don't pay it separately out of pocket. As long as your home is worth more than you owe, you walk away with the difference minus selling costs. If you owe more than the home is worth (sometimes called being underwater), that's a different situation with options like a short sale, but it's uncommon given recent price levels. A net-proceeds estimate shows exactly where you'd land.

Often not, thanks to a federal tax break. If the home was your primary residence for at least two of the last five years, you can generally exclude up to $250,000 of profit from capital gains tax if you're single, or up to $500,000 if you're married filing jointly. Most home sales fall under those limits and owe nothing. Profit above the exclusion, or a sale that doesn't meet the residency test, may be taxable. Because the result depends on your cost basis, improvements, and circumstances, it's worth confirming with a tax professional before you sell.

It's one of the biggest decisions sellers face, and the right answer depends on your finances and risk tolerance. Selling first gives you certainty about your proceeds and budget and avoids carrying two mortgages, but you may need interim housing. Buying first lets you move just once and avoid a rushed purchase, but it can mean carrying both homes for a while or using tools like a bridge loan or a sale contingency. In a more balanced market like Philadelphia's in 2026, coordinating the two transactions takes planning. We'd map out your specific situation and the options that fit it best.