Greater Pittsburgh Real Estate Market Report
How Prices & Sales Are Trending
HERE IT IS!!- Less homes selling, for about 3% more $$ on average & taking a couple days longer to sell. Comparing our current numbers to the Avg sales price 3 years ago as covid shutdowns were slowing some in October 2020 that came in at $231,434 this shows 13% increase of sales price from 2020 to now. Let's go back and compare 3 years prior, September 2017 average of $182,292 to 2020 numbers and we get about 21% increase in similar time frame. The math shows real estate is about a 5% appreciation in the Greater Pittsburgh Markets over the last 6 years. Seems like a winner to me.
We are in the Fall real estate market with lower than normal inventory of homes available. November can be a busy real estate time to get a home on the market. However there are often a few less buyers wanting to make moves. Would you consider, who looks at homes this time of year? Answer = SERIOUS BUYERS!! Who do you want to sell your home too? Answer = SERIOUS BUYERS!! You also need to be presenting a good marketable home and make a great first impression to maximize your return. You can check out my list of Tips to Prepare Your Home now.
Good information to know, in the last 7 days we have had 547 new listings enter the market and 679 go under contract. Inventories have risen compared to last year however there is still a need for good homes to come on the market. There is a premium on the most attractive homes on market and multiple offers, YES, multiple offers coming in. It does seem to shift a little back and forth between being a buyers market and a sellers market. It makes sense a buyers market is LOOMING out there somewhere very soon. Time will tell.
Pricing homes right now is so important. You have to use a strategy, not just post a high price and hope you get it. Those homes are just dropping their prices or sitting on the market. Buyers & Sellers are not negotiating the average list price to sale price all that much, for September 97.99% changing a little from 98.52% in August. We are going to see continued shifting in the market over the next 6-10 months.
Currently, there are 3275 homes under contract slated to close in the next 2-6 weeks. With 109 properties that went under contract in the last 24 hours.
Trending
October 2023 October 2022
Avg sales price $267,886 Avg sales price $258,957
Total Homes Sold 2211 Total Homes Sold 2327
Days on Market 41 Days on Market 38
September 2023 September 2022
Avg sales price $264,901 Avg sales price $256,689
Total Homes Sold 2355 Total Homes Sold 2667
Days on Market 40 Days on Market 38
August 2023 August 2022
Avg sales price $279,015 Avg sales price $267,971
Total Homes Sold 2440 Total Homes Sold 2897
Days on Market 38 Days on Market 33
July 2023 July 2022
Avg sales price $279,302 Avg sales price $284,680
Total Homes Sold 2375 Total Homes Sold 2771
Days on Market 38 Days on Market 33
June 2023 June 2022
Avg sales price $297,319 Avg sales price $283,007
Total Homes Sold 2861 Total Homes Sold 3075
Days on Market 41 Days on Market 32
May 2023 May 2022
Avg sales price $264,957 Avg sales price $273,699
Total Homes Sold 2371 Total Homes Sold 2732
Days on Market 46 Days on Market 37
April 2023 April 2022
Avg sales price $259,312 Avg sales price $259.786
Total Homes Sold 1974 Total Homes Sold 2461
Days on Market 55 Days on Market 43
March 2023 March 2022
Avg sales price $240,550 Avg sales price $252,519
Total Homes Sold 2207 Total Homes Sold 2377
Days on Market 62 Days on Market 52
February 2023 February 2022
Avg sales price $226,033 Avg sales price $235,059
Total Homes Sold 1489 Total Homes Sold 1810
Days on Market 67 Days on Market 56
January 2023 January 2022
Avg sales price $232,563 Avg sales price $238,464
Total Homes Sold 1491 Total Homes Sold 1911
Days on Market 54 Days on Market 48
December 2022 December 2021
Avg sales price $242,336 Avg sales price $243,332
Total Homes Sold 2130 Total Homes Sold 2914
Days on Market 48 Days on Market 43
November 2022 November 2021
Avg sales price $247,690 Avg sales price $244,441
Total Homes Sold 2088 Total Homes Sold 2839
Days on Market 43 Days on Market 42