Is Rittenhouse Square West, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rittenhouse Square West has remained a Buyer's 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
$535,000
$452/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rittenhouse Square West have sold for 0.9% less than they did a year ago.
Summary: The median home sold price in Rittenhouse Square West was $535,000 in March 2024, down 0.9% from last year, and the median price per square foot was $452.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $275K | -5.2% |
| 2 Bedrooms | $614K | $599.5K | -2.4% |
| 3 Bedrooms | $1.3M | $1.6M | +19.7% |
| 4 Bedrooms | $1.5M | $2.3M | +51.3% |
| 5+ Bedrooms | $5.9M | $2.6M | -56.3% |
Summary: Rittenhouse Square West housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.2%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 19.7%, 4 bedroom homes increased by 51.3%, and 5+ bedroom homes decreased by 56.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Rittenhouse Square West | $539.9K | $535K | -0.9% |
| Rittenhouse Square East | $457.5K | $410K | -10.4% |
| Filter Square | $1.0M | $874.4K | -17.1% |
Housing Supply in Rittenhouse Square West, PA
How many homes are available in Rittenhouse Square West, PA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 245 | 258 | +5.3% |
Summary: The Rittenhouse Square West real estate market had 258 homes for sale in March 2024, a 5.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 60 | 72 | +20.0% |
| 2 Bedrooms | 83 | 85 | +2.4% |
| 3 Bedrooms | 51 | 50 | -2.0% |
| 4 Bedrooms | 33 | 32 | -3.0% |
| 5+ Bedrooms | 18 | 19 | +5.6% |
Summary: The Rittenhouse Square West housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 2.4%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 5.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rittenhouse Square West, 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 West in March 2024, down by 16.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 30% were sold at asking, and 0% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 95 Days | +133.6% |
Summary: Homes in Rittenhouse Square West had an average of 95 days on market in Mar 2024, up by 133.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rittenhouse Square West are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Rittenhouse Square West; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
