The Long & Foster Market Minute

Focus On: Rittenhouse Square, Center City West, and Logan Square Housing Market June 2021

Zip Code(s): 19103
Units Sold
82
Active Inventory
222
Median Sale Price
$599,500
Days On Market
82
Up
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 82 sold this month in Rittenhouse Square, Center City West, and Logan Square Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 3%. The total number of active inventory this June was 222 compared to 229 in June 2020. This month's total of 222 is lower than the previous month's total supply of available inventory of 239, a decrease of 7%.

Median Sale Price
Last June, the median sale price for Rittenhouse Square, Center City West, and Logan Square Homes was $675,000. This June, the median sale price was $599,500, a decrease of 11% or $75,500 compared to last year. The current median sold price is 5% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
50
Current Contracts
36
Sold Vs. List Price
96.3%
Months of Supply
2.7
Down -42%
Vs. Year Ago
Up 33%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -80%
Vs. Year Ago

Months of Supply
In June, there was 2.7 months of supply available in Rittenhouse Square, Center City West, and Logan Square, compared to 13.5 in June 2020. That is a decrease of 80% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 50 homes newly listed for sale in Rittenhouse Square, Center City West, and Logan Square compared to 86 in June 2020, a decrease of 42%. There were 36 current contracts pending sale this June compared to 27 a year ago. The number of current contracts is 33% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Rittenhouse Square, Center City West, and Logan Square was 96.3% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 82, lower than the average last year, which was 99, a decrease of 17%.

The Long & Foster Market Minute Rittenhouse Square, Center City West, and Logan Square are defined as properties listed in zip code/s 19103.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.