Is Washington Square West, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Washington Square West was a Seller's Market.
Key Takeaway
Washington Square West is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Washington Square West, PA
How much do homes in Washington Square West, PA cost?
Median Sold Price
$467,500
$410/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Washington Square West have sold for 5.1% less than they did a year ago.
Summary: The median home sold price in Washington Square West was $467,500 in May 2024, down 5.1% from last year, and the median price per square foot was $410.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $301K | $295K | -2.0% |
| 2 Bedrooms | $446.2K | $430K | -3.6% |
| 3 Bedrooms | $704K | $699K | -0.7% |
| 4 Bedrooms | $917.5K | $1.0M | +12.8% |
| 5+ Bedrooms | $811.7K | - | N/A |
Summary: Washington Square West housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Society Hill | $567.1K | $580K | +2.3% |
| Washington Square West | $492.5K | $467.5K | -5.1% |
| Center City | $516.9K | $465K | -10.1% |
| Avenue of the Arts | $335K | $294.5K | -12.1% |
Housing Supply in Washington Square West, PA
How many homes are available in Washington Square West, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 77 | 88 | +14.3% |
Summary: The Washington Square West real estate market had 88 homes for sale in May 2024, a 14.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 31 | +29.2% |
| 2 Bedrooms | 25 | 27 | +8.0% |
| 3 Bedrooms | 20 | 21 | +5.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Washington Square West housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 29.2%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 10 | +100.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington Square West, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Washington Square West in May 2024, up by 100.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Washington Square West, PA
How long does it take to sell a home in Washington Square West, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 104 Days | 61 Days | -41.1% |
Summary: Homes in Washington Square West had an average of 61 days on market in May 2024, down by 41.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Washington Square West has remained consistent over time.
Summary: During May 2024, 10 homes were sold in Washington Square West; 30% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
