March 2025 Report
Philadelphia Metro
Philadelphia | March 2025
Home Demand Index
The Home Demand Index (HDI) for this report period stands at 71, reflecting an increase from last month’s 65 but a decline compared to last year’s 77. The month-over-month improvement indicates growing buyer activity, potentially driven by seasonal demand or improving economic conditions. However, the year-over-year decline suggests that demand remains softer than the previous year, highlighting ongoing market challenges.
Demand for entry-level single-family homes remains stable at 71, down from 77 last year, reflecting ongoing affordability concerns. The luxury single-family segment saw a sharp increase to 51, rising from 41 last month, suggesting a surge in buyer interest or changes in inventory. This variation underscores the dynamic market conditions across different price tiers.
Monthly Statistics for March 2025
Home Demand
Index
Index
71
(Slow)
Home Demand Index
from prior month
from prior month
65
Home Demand Index
from prior year
from prior year
77
Index change
from prior month
from prior month
9.2%
Index change from
same time last year
same time last year
-7.8%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Home Demand Index | Historical Year-over-Year Comparison
The Home Demand Index (HDI) for this period is 71, marking an increase from last month’s 65 but remaining below last year’s level of 77. The month-over-month rise suggests renewed buyer interest, potentially influenced by seasonal market trends or shifting economic conditions. However, the year-over-year decline reflects broader market adjustments, indicating that demand has not yet returned to prior levels.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Home Demand Map
The HDI map shows a broad improvement in buyer demand across multiple regions, particularly in suburban and high-density urban areas. Key markets have shifted from slow to steady demand, signaling increasing buyer engagement despite ongoing affordability challenges. Overall, demand levels are stabilizing, suggesting a gradual recovery in regional housing activity.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Demand and Inventory by Home Type
Demand for entry-level single-family homes remains stable at 71, down from 77 last year, reflecting ongoing affordability concerns. The luxury single-family segment saw a sharp increase to 51, rising from 41 last month, suggesting a surge in buyer interest or changes in inventory. This variation underscores the dynamic market conditions across different price tiers.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Single Family Home Below $350k
The entry-level single-family home index stands at 69, up from last month’s 65 but still below last year’s 77. This month-over-month increase suggests improving buyer interest, though the year-over-year decline indicates continued affordability concerns. The segment remains competitive, with constrained inventory keeping demand steady despite broader market fluctuations.
Monthly Statistics for Single Family Home Below $350k
Home Demand
Index
Index
69
(Limited)
Home Demand Index
from prior month
from prior month
65
Home Demand Index
from prior year
from prior year
77
Months of
inventory
inventory
2.6
Average daily inventory last month
912
Inventory sold
last month
last month
354
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Single Family Home $350k - $765k
The index for mid-range single-family homes stands at 58, reflecting a slight increase from last month’s 55 but a notable decline from last year’s 69. This month-over-month improvement suggests a gradual rebound in buyer interest, though demand remains weaker compared to the previous year. Limited inventory and shifting affordability continue to shape market activity in this segment.
Monthly Statistics for Single Family Home $350k - $765k
Home Demand
Index
Index
58
(Limited)
Home Demand Index
from prior month
from prior month
55
Home Demand Index
from prior year
from prior year
69
Months of
Inventory
Inventory
2.3
Average daily inventory last month
2,090
Inventory sold
last month
last month
900
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Single Family Home Above $765k
The luxury single-family home index stands at 51, rising from last month’s 41 but still below last year’s 58. This month-over-month increase indicates a modest rebound in demand, though the year-over-year decline suggests ongoing challenges in the high-end market. Affordability and broader economic factors may be influencing buyer activity in this segment.
Monthly Statistics for Single Family Home Above $765k
Home Demand
Index
Index
51
(Limited)
Home Demand Index
from prior month
from prior month
41
Home Demand Index
from prior year
from prior year
58
Months of
Inventory
Inventory
3.9
Average daily inventory last month
707
Inventory sold
last month
last month
179
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Condo Below $412k
The entry-level condo index stands at 95, showing an increase from last month’s 85 and a rise from last year’s 88. This growth reflects sustained buyer interest in affordable condos, with demand strengthening year-over-year. The segment continues to appeal to budget-conscious buyers, supporting a stable and competitive market.
Monthly Statistics for Condo Below $412k
Home Demand
Index
Index
95
(Steady)
Home Demand Index
from prior month
from prior month
85
Home Demand Index
from prior year
from prior year
88
Months of
Inventory
Inventory
4.5
Average daily inventory last month
782
Inventory sold
last month
last month
173
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Condo Above $412k
The luxury condo index stands at 119, marking an increase from last month’s 99 and slightly surpassing last year’s 115. This rise indicates renewed buyer interest in the high-end condo market, suggesting improving confidence among affluent buyers. The steady year-over-year growth highlights resilience in this segment despite broader economic uncertainties.
Monthly Statistics for Condo Above $412k
Home Demand
Index
Index
119
(Moderate)
Home Demand Index
from prior month
from prior month
99
Home Demand Index
from prior year
from prior year
115
Months of
Inventory
Inventory
6.9
Average daily inventory last month
248
Inventory sold
last month
last month
36
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Philadelphia | March 2025
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twins stands at 84, rising from last month’s 77 but slightly below last year’s 87. This month-over-month increase reflects growing buyer interest in attached homes, potentially due to affordability and location benefits. However, the slight year-over-year decline suggests that broader economic conditions continue to impact demand in this segment.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
84
(Slow)
Home Demand Index
from prior month
from prior month
77
Home Demand Index
from prior year
from prior year
87
Months of
Inventory
Inventory
4.3
Average daily inventory last month
5,267
Inventory sold
last month
last month
1,222
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Note
1. This report is generated with data from the following counties:
- Central Pennsylvania – Adams, PA; Berks, PA; Cumberland, PA; Dauphin, PA; Franklin, PA; Fulton, PA; Lancaster, PA; Lebanon, PA; Perry, PA; Schuylkill, PA; York, PA;
- Ocean County – Ocean, NJ;
- Philadelphia Metro – Bucks, PA; Burlington, NJ; Camden, NJ; Chester, PA; Delaware, PA; Gloucester, NJ; Kent, DE; Mercer, NJ; Montgomery, PA; New Castle, DE; Philadelphia, PA;
- Salem-Cumberland – Cumberland, NJ; Salem, NJ;
2. This report is for the March 2025 period with data collected from the previous month.
Released: March 11, 2025
Reference ID: 2209
Philadelphia | March 2025
Home Demand Map (Zip Codes)
The HDI map shows a broad improvement in buyer demand across multiple regions, particularly in suburban and high-density urban areas. Key markets have shifted from slow to steady demand, signaling increasing buyer engagement despite ongoing affordability challenges. Overall, demand levels are stabilizing, suggesting a gradual recovery in regional housing activity.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com