Philadelphia New Construction Market Update (March 18th, 2025)

Author

Marco Di Gabriele
March 19, 2025

Table of Contents

Last week marked a 3 month high for showing activity in Philadelphia, with showings for the week surpassing the 6,000 benchmark. Activity in the market right now is still being dominated by 19146, 19148, and 19147 respectively, combining to account for about 30% of all showings we are tracking right now in Philly. 19128 & 19125 get honorable mention for also showing strength, accounting for just under an additional 15% of all showings. Essentially, these 3 zip codes right now are carrying almost 50% of all showing activity and buyer demand.

Just using primary data and what I am seeing in the market from the large amount of inventory that our team carries, we are definitely starting to see more contracts coming in on listings, and it seems like buyers who started their searches early in the year are no reaching decision points and starting to transact, which is great to see.

in 2024, it felt like we had an strong & early spring market, followed by a steady decrease in activity for the rest of the year. You can see this depicted below by the consistent decrease in showings that happened starting after the beginning of May though the end of the year.

The hope for 2025 would be that even if our Spring market hits a bit later, that it is stronger due to interest rate relief, and that we have a more traditional Fall Market that we are used to seeing in Philadelphia, where showings and contracts pick up significantly again post Labor Day through Thanksgiving. Last year, the uptick in activity that we were expecting and typically see, never really came in the fall aside from a few weeks where rates dropped and opportunistic buyers took advantage. Overall, rate volatility was the main reason we saw the Fall Market lag so much.

Overall Philadelphia New Construction Market Stats:

(Rolling Statistics - Past 365 Days)

New Construction Neighborhood Market Reports (Rolling 180 Days)

Northern Liberties / Fishtown / Olde Kensington (19123, 19125, & 19122)

Graduate Hospital / Queen Village (19146 & 19147)

Spring Garden / Fairmount (19130)

South Philly (19145 & 19148)

Brewerytown / Strawberry Mansion / Sharswood (19121)

Rittenhouse / Logan Square (19103)

Port Richmond / Kensington / Bridesburg (19134 & 19137)

Old City / Washington Square West (19106 & 19107)

Manayunk / Roxborough (19127 & 19128)

East Falls / Germantown (19129 & 19144)

Chestnut Hill (19118)

Mount Airy (19119)

Northeast Philly (19114, 19115, 19152, 19154)

University City / West Philly (19104, 19139, & 19143)

About The Author - Marco A. Di Gabriele

  • Marco is a real estate agent, developer, and entrepreneur who specializes in New Construction Sales in the Greater Philadelphia Area.

  • Marco has overseen the sales of over $100mil in New Construction sales over the past 5 years as the Director of New Construction & Development Sales on the Rarity Real Estate Team.

  • Rarity Real Estate has sold $880M in Real Estate in the Greater Philadelphia Area since 2020, and is a Top 25 Ranked Team in Keller Williams International.