Greater Pittsburgh Luxury Real Estate Market Report 10/26/2022
Lifestyle of the Rich & Famous
Pittsburgh Edition
HOMES $1,000,000+ STATISTICS
YTD 2022
188 Listings on the market
62 Under contract
253 sold in 2022
69 average days on market
96.41% list price / sales price
Avg $1,390,120
YTD 2021
246 sold in 2021
89 average days on market
93.59% list price / sales price
Avg $1,462,330
YTD 2020
114 sold in 2020
111 average days on market
91.21% list price / sales price
Avg $1,422,916
YTD 2019
97 sold
120 average days on market
88.99% list price / sales price
Avg $1,413,384
Comparing the last several years the High-end Luxury market is holding strong. Luxury is holding strong! Should I say it again. They are selling for more than ever and negotiating less. The rate hikes haven't made a huge effect to this point.
You can look through the statistics and note going back several years, especially in 2019 there are over double the amount of homes selling now at this price point.
PENDINGS in the Luxury Market has dropped about 30% since the spring and Inventories have risen about 15%.
See Article "Luxury Homes Are In High Demand"
I have studied with the Institute for Luxury Home Marketing and have a robust marketing plan for Luxury homes!