Philadelphia New Construction Homes for Sale!

So, you’re looking for a new construction home in Philadelphia. Well, you’re not alone and for good reason. There’s a tremendous variety of homes available in Philly from the waterfront on the Delaware to Chestnut Hill to Graduate Hospital and everywhere in between. The strength of the market is partially due to the 10-year tax abatement, discussed below. So let's explore what the Philadelphia new construction market has to offer.

Types of New Homes

  1. Townhomes: The most popular choice, making up 70% of the market. These homes are cozy yet spacious, ranging from 2 bed/2 bath units at $260,000 to luxurious 6 bed/10 bath homes at $2,775,000. They often come with decks or patios and are usually part of a homeowner's association.
  2. Condominiums: Ideal for urban living, these make up 25% of the market. Whether it's a 400 sq ft studio or a multi-million-dollar penthouse, there's something for everyone.
  3. Detached Single-Family Homes: For those who value privacy and yard space, these homes make up 5% of the market. Prices range from $510,000 to $3,000,000.

Quick Stats

  • Stats for Current Sales, Prices, $/Sq Ft and Hottest Neighborhoods for New Construction: See Stats Charts below
  • Average Beds/Baths: 3/3
  • Average Square Footage: 2100 sq ft
  • Parking: About 53% of new homes include parking

Tax Abatement

The Philly tax abatement is a huge perk. Originally a full 10-year abatement on improvements, i.e. the home, new applications now see a 10% reduction each year starting in year 2, which cuts the benefit in half. But don't worry, many developments still offer the full 10-year abatement.

Why New Construction in Philadelphia?

  • Cultural Richness: From diverse cuisines to arts venues like the Philadelphia Museum of Art, Philly has it all.
  • Cost-Effective: New homes in Philly are generally cheaper per square foot than those in nearby suburbs.
  • Historical Sites: Live near the Liberty Bell and Independence Hall

Design Trends

  • Natural Elements: Wood, stone, and earthy colors are in.
  • Home Offices: A dedicated workspace is almost a given.
  • Sustainability: Eco-friendly materials and energy-efficient designs are the norm.
  • Predesigned Packages: These keep costs down and style up.

Advice for Buyers

  • Tour Neighborhoods: There's a lot of difference between the neighborhoods in Philadelphia. Some like Old City and Manayunk are near the waterfront, some like the Art Museum Area are close to many museums, some are more residential such as Chestnut Hill, etc. Of course, some have cheaper housing and some more expensive. It's good to look around and find an area you like while also being aware of what's available new construction-wise in that area. 
  • Research Builders/Developments: Not the easiest thing to do as there are few if any comprehensive builder review websites. Also, they frequently use different LLCs for different developments and it's difficult sometimes to know who precisely the builder is. You always want to ask who the builder is when you view a home in a new development and research them online. If the builder has no online presence that is not a good thing. You would like to ascertain what their experience is building in the area. You can check Google reviews for the builder or specific developments they've constructed. If you can talk to people living in the development you're looking in that is good as well. Just ask them how they like the community, how satisfied they are with their home, etc.
  • Leave Enough Time for Home Completion: The builder's representative will give you an idea of when your home will be done which becomes more accurate as completion approaches. There can be delays getting supplies, getting the city to come out for inspections, keeping adequate help, etc. I wouldn't plan too precisely with respect to the completion date of the home as estimated by the builder's rep. If you're planning to move or a loan interest rate lock expires the day after the projected completion date of the home then you could be setting yourself up for disappointment.

Why Choose Main Line Philly Homes?

When you work with us, you're not just getting a realtor; you're getting a team with deep roots in the area and extensive experience in the new home market. Just look at this website. There’s a page for most new home developments in the city with pictures and facts. Who else has that? So why wait? Let's find your dream home today!

Philadelphia New Construction Video

Gallery of Philadelphia New Home Communities

Map of Philadelphia New Home Communities

New Construction Statistics

Philadelphia New Construction Developments by Name

Philadelphia Construction New Homes for Sale Statistics March 3, 2024
396
Listed
133
Avg. DOM
$488.93
Avg. $ / Sq.Ft.
$670,400
Med. List Price
396 Properties
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Gallery of Philadelphia New Home Communities

Click on any picture to open up a page for that development

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Philadelphia New Construction Video

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Map of Philadelphia New Home Communities

Click on any icon to display information about that development. Click the Web Page Link to open the page for the specific community.

Philadelphia New Construction Statistics

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