Is Rittenhouse Square East, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Rittenhouse Square East has remained a Buyer's Market.
Key Takeaway
Rittenhouse Square East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Rittenhouse Square East, PA
How much do homes in Rittenhouse Square East, PA cost?
Median Sold Price
$410,000
$415/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Rittenhouse Square East have sold for 15.5% less than they did a year ago.
Summary: The median home sold price in Rittenhouse Square East was $410,000 in April 2024, down 15.5% from last year, and the median price per square foot was $415.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $268K | $280K | +4.5% |
| 2 Bedrooms | $575.5K | $495K | -14.0% |
| 3 Bedrooms | $1.1M | $1.2M | +7.9% |
| 4 Bedrooms | $1.3M | $1.5M | +11.7% |
| 5+ Bedrooms | $2.6M | $1.9M | -23.4% |
Summary: Rittenhouse Square East housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes decreased by 14%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 23.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Avenue of the Arts | $300K | $297.9K | -0.7% |
| Rittenhouse Square West | $556.6K | $517.5K | -7.0% |
| Rittenhouse Square East | $485K | $410K | -15.5% |
Housing Supply in Rittenhouse Square East, PA
How many homes are available in Rittenhouse Square East, PA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 121 | 126 | +4.1% |
Summary: The Rittenhouse Square East real estate market had 126 homes for sale in April 2024, a 4.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 39 | 41 | +5.1% |
| 2 Bedrooms | 43 | 46 | +7.0% |
| 3 Bedrooms | 27 | 27 | 0.0% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Rittenhouse Square East housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.1%, 2 bedroom homes increased by 7%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Rittenhouse Square East, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Rittenhouse Square East in April 2024, down by 23.1% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Rittenhouse Square East, PA
How long does it take to sell a home in Rittenhouse Square East, PA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 63 Days | 64 Days | +2.8% |
Summary: Homes in Rittenhouse Square East had an average of 64 days on market in Apr 2024, up by 2.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rittenhouse Square East are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Rittenhouse Square East; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
