December 2016 Real Estate Update

December 2016 Real Estate UpdateHappy New Year Pittsburgh!

Since it’s well into the New Year 2017 we hope you and your families have had a good one so far. As is typical for this time of year and the real estate industry, the real estate statistics for Pittsburgh for December have slowed a bit. The charts below, that shares information gathered from the West Penn Multilist, indicate this. But how do these statistics compare to the national real estate market? Let’s compare and contrast.

December 2016 Real Estate Update

Pittsburgh Real Estate Market Vs. National Real Estate Market:

As these charts indicate, almost every South Hills area of Pittsburgh saw decreases in every column. Cecil Township saw the biggest decrease in new listings but saw a slight increase in sold listings. Upper St. Clair also saw a slight increase in sold listings. The average sold price column didn’t see a noticeable decrease or increase in any area. So how do these stats compare to the National Real Estate Market: Here are some important facts from the CENTURY 21 January 2016 National Real Estate Update:

  • Home Sales in December increased 14.7% to 5.46 million
    • This is 7.7% above the December 2014 existing home sales
  • National median of existing home price increased 1.6% to $224,100
    • This is a 7.6% increase from the same time last year
  • Total housing inventory decreased 12.3%
    • This is 3.8% lower than a year ago
  • First-time home buyers increased 32% in December, up 30% in November

So while things remained at their average pace in Pittsburgh for the month of December, real estate stats seem to be increasing nationally according to the CENTURY 21 national market update. Hopefully these positive statistics will encourage you to enter in the Pittsburgh real estate market and get a fresh new start in a new home for 2017.

Get A New Home For The New Year!

Whether you are planning to buy a new home or sell a home in 2017, we’re here to help! We have a team of buyers specialist and administrative assistants that will make the moving process a smooth one for you, so don’t hesitate to contact us to get the moving process started!

Until Next Time,

Jim

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