Median home values in the Greater Philadelphia region rose 3.3 percent year-over-year to $199,200, according to newly released data from Zillow. The July 2014 study found that the Philadelphia area’s median home value is 13.9 percent higher than the national average of $174,800.
Using its Zillow Home Value Forecast, the company forecasts that home prices in the Philadelphia area will rise 0.9 percent over the next year (July 2014 – July 2015). Nationally, home values are projected to increase 2.7 percent during over the next year.
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