Philadelphia New Construction Market Update (March 26th, 2025)

Author

Marco Di Gabriele
March 27, 2025

Table of Contents

Showing activity continued to hover just above the 6,000 showing per week mark, which is a great sign for carried momentum into the spring market as we enter April. We are beginning to see more and more contracts and transactions happening across the market, but the levels of pending and active new construction are sitting pretty consistent, showing no significant increase or decrease in demand.

You can see below that through February, we are lagging in pending units vs. 2024, which is something to continue watching. Last year by the end of Feb we saw 1600+ units pending in Philadelphia. This year, that number is just above 1,450 units pending, which means we are currently lagging by about almost 10% so far. We can expect that Q1 of 2025 will end up with a lower closed & pending volume than we saw in 2024 which is no surprise given the showing activity is lagging behind 2024 as well.

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.