Is Rittenhouse Square West, PA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rittenhouse Square West is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Rittenhouse Square West was a Neutral Market.

Key Takeaway

Rittenhouse Square West is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Rittenhouse Square West, PA

How much do homes in Rittenhouse Square West, PA cost?

Median Sold Price

$575,000

$460/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$32,500(+6.0%)

Key Takeaway

Homes in Rittenhouse Square West have sold for 6% more than they did a year ago.

Summary: The median home sold price in Rittenhouse Square West was $575,000 in September 2024, up 6% from last year, and the median price per square foot was $460.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $276K$308.7K
+11.9%
2 $571.2K$625K
+9.4%
3 $1.4M$1.0M
-28.8%
4 $2.4M$1.5M
-37.8%
5+ $2.6M$2.6M
0%

Summary: Rittenhouse Square West housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.9%, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 28.8%, 4 bedroom homes decreased by 37.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Rittenhouse Square West
+6.0%
Rittenhouse Square East
+0.7%
Filter Square
0.5%

Housing Supply in Rittenhouse Square West, PA

How many homes are available in Rittenhouse Square West, PA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
137147+7.3%

Summary: The Rittenhouse Square West real estate market had 147 homes for sale in September 2024, a 7.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 3840
+5.3%
2 4954
+10.2%
3 2727
0.0%
4 1214
+16.7%
5+ 1112
+9.1%

Summary: The Rittenhouse Square West housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 10.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2113-38.1%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rittenhouse Square West, you may be able to get a good deal. 84.6% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Rittenhouse Square West in September 2024, down by 38.1% month-over-month. Of the 13 sold homes, 85% were sold under asking, 0% were sold at asking, and 15% were sold over asking.

Days on Market for Rittenhouse Square West, PA

How long does it take to sell a home in Rittenhouse Square West, PA?

Average Sale Time

Sep 2023Sep 2024CHANGE
116 Days134 Days+14.7%

Summary: Homes in Rittenhouse Square West had an average of 134 days on market in Sep 2024, up by 14.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Rittenhouse Square West are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During September 2024, 13 homes were sold in Rittenhouse Square West; 15% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 62% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 6 Days Ago

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