Greater Pittsburgh Luxury Real Estate Market Report 10/25/2023
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Pittsburgh Edition
HOMES $1,000,000+ STATISTICS
YTD 2023
247 Listings on the market
57 Under contract
250 sold in 2023
63 avg days on market
95.27% list price / sales price
Avg $1,419,466
from the archives of last years email
October 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 2022 YTD 2020
263 sold in 2022 124 sold in 2020
70 avg days on market 113 avg days on market
96.44% list/sales price 91.02% list/sales price
Avg $1,402,561 Avg $1,413,136
YTD 2021 YTD 2019
250 sold in 2021 101 sold in 2019
89 avg days on market 118 avg days on market
93.57% list/sales price 88.99% list/sales price
Avg $1,463,862 Avg $1,402,161
Comparing the last several years the High-end Luxury market has softened but not really compared to 2021 & 2022 we are really holding strong. We are still in the MIDDLE of the best or at worst 2nd BEST Luxury Market the Greater Pittsburgh Area has ever seen. Inventory has increased 23 % in this sector since October 2022. Think about this MORE homes have sold in 2023 so far than 2019 & 2020 combined. This sector of the market has been very stabile and is running ahead of the all the years before, however again the inventory has increased 23%, it will be interesting to what happens with more options available to home buyers.
PENDINGS in the Luxury Market has decreased slightly over the last month, but nothing really notable. I am really curious to see how long this market continues.
I have studied with the Institute for Luxury Home Marketing and have a robust marketing plan for Luxury homes!
Feature Home
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