More Homes, More Choices: What the Latest Housing News Means for Montco and Philly Buyers

By Andrew Haff | Barren Hill Mortgage, LLC
November 11, 2026

If you have been looking for a home in Montgomery County or Philadelphia, you might be wondering whether the market is finally giving buyers a little breathing room.

The latest numbers offer a reason to take a fresh look. But the opportunity depends on where you are buying, what you can comfortably afford, and the individual property.

Here is what the recent housing news means for your next move.

What changed in the Philadelphia housing market?

Bright MLS’s October 2026 report, released November 10, shows a mixed picture for the Philadelphia metro area:

• Median sold price: $400,000 — up 2.8% from a year earlier.
• Active listings: 16,215 — up 23.9% from a year earlier.
• New purchase contracts: 5,376 — down 15.3% from a year earlier.
• Median days on market: 17 days — two days longer than a year earlier.

These figures cover the broader Philadelphia metro area, rather than Philadelphia city or Montgomery County individually.

What does this mean for buyers? More homes are available, giving buyers more options to consider. However, that increase in inventory has not translated into a broad decline in the median sale price.

Source: Bright MLS October 2026 Housing Market Report.

Montgomery County still needs a closer look

A local Bright MLS-based report published by The McKnight Team puts Montgomery County’s October median sale price at $485,000, with a median nine days to contract. Its November 1 snapshot reports 1.6 months of supply.

Those figures use a different geography and reporting approach from the metro report, so they should not be treated as a direct comparison.

Source: Montgomery County housing market report.

If you are shopping in Ambler, Blue Bell, Glenside, Lafayette Hill, or elsewhere in Montco, ask your agent to narrow the analysis to comparable homes in your price range.

How many competing listings are available? Have similar homes needed price reductions? What condition were they in when they sold?

A county-wide median cannot tell you whether a specific house is overpriced. The most useful comparison is between the home you want and the alternatives you could actually buy.

Mortgage rates eased, but the payment still matters

Freddie Mac reported a national average 30-year fixed mortgage rate of 7.18% on November 5, down from 7.24% the previous week.

That is a market benchmark, not a Barren Hill Mortgage rate quote. Freddie Mac’s survey focuses on conventional conforming purchase loans for borrowers with excellent credit and 20% down. Your pricing can differ based on your credit, loan program, down payment, property, points, and lock period.

Source: Freddie Mac’s November 5 rate release.

For a buyer, the practical next step is to update the numbers before making an offer. An estimate from earlier in your search may no longer reflect the payment or cash needed for the home you are considering.

Compare the full cost of the address

When comparing a Philadelphia home with one in Montgomery County, start with the full monthly housing expense:

• Principal and interest.
• Property taxes for that specific home.
• Homeowners insurance.
• Mortgage insurance, if applicable.
• HOA or condominium dues, if applicable.

Then leave room in your household budget for maintenance, utilities, and repairs.

Two homes with the same purchase price can have different ownership costs. A lower asking price does not automatically mean a more comfortable monthly budget.

Look beyond a price reduction when negotiating

For a listing where the seller is open to negotiation, ask your agent and mortgage broker to compare a price reduction with a seller credit toward eligible closing costs.

A price reduction can lower the amount you need to finance. A seller credit may help preserve cash at closing. The better fit depends on whether your priority is the monthly payment, upfront cash, or keeping a cushion after the move.

Seller credits are subject to loan-program limits and eligible costs. Have the proposed structure reviewed before putting it in an offer.

There is no reason to assume every seller will agree. Use the property’s condition, competing listings, and recent comparable sales to guide the conversation.

Should you buy now or wait?

I would start with a different question: does the purchase work for you at today’s payment?

Buying may make sense if you have stable income, enough savings left after closing, and a home that fits your needs for the foreseeable future.

Waiting may make more sense if the payment stretches your budget, your employment situation is changing, or the purchase would use nearly all your available cash.

A future refinance can be an option to evaluate, but it should not be the condition that makes the purchase affordable. Refinancing depends on future rates, qualification, property value, and costs.

My advice for local buyers

Get your financing reviewed before you fall in love with a house. Set a comfortable payment range. Ask for an address-specific estimate. Then work with your agent to build an offer around the property and its competition.

At Barren Hill Mortgage, I help buyers compare mortgage options and understand how the rate, closing costs, and loan structure fit together.

If you are thinking about buying in Montgomery County or Philadelphia, let’s look at your numbers and put a plan together.

Andrew Haff | Barren Hill Mortgage, LLC
215-266-7167 | [email protected]
Individual NMLS #1979618 | Company NMLS #2825420

Market information is current as of November 11, 2026. Rates and loan availability can change. Financing is subject to credit, property, and underwriting approval. Equal Housing Opportunity.