Last time, I told you about a recent report released by West Penn Multi-List, Inc that suggested that sales activity is getting a boost here in Western Pennsylvania.
Just recently, I was reading another article that also provided data to support that claim!
Continue reading to learn what a recent survey by the real estate data company RealSTATs revealed about Pittsburgh area market activity.
Allegheny County, Pennsylvania Property Sales
RealSTATS, which is based in South Side, recently released its own report on market activity in Western Pennsylvania. Here’s what they found:
- April was the 7th consecutive month in which home sales increased in the Pittsburgh metropolitan region.
- Between April 2011 and April 2012, the total number of homes sold in the area increased by 10.7 percent – or from 1,734 to 1,919.
- Also, the average home priced increased year-over-year, from $144,366 to $159,613.
- The average price of existing homes for sale in the five county region of Allegheny, Beaver, Butler, Washington and Westmoreland increased by 14.1 percent year-over-year.
- In raw numbers, the average price of existing homes increased from $131,246 to $149,724.
- Meanwhile, the average price for new homes decreased by 10.3 percent year-over-year.
- In raw numbers, the average price for new homes decreased from $325,694 to $292,227.
Real estate analysts hypothesize that new home prices are decreasing because more and more new homes are selling in lower price ranges, which may be dragging down prices.
Also, many first-time home buyers are opting to purchase townhomes, which are less expensive than detached single-family homes.
Your Pittsburgh PA Real Estate Expert
While new home sales prices are down, area home owners should feel confident about the fact that existing home sales prices are on the rise.
When you contact me, I’ll be happy to discuss with you the most effective way to navigate the market in order to ensure an optimal outcome as a Pittsburgh area home seller.
I’ll also provide you with several home selling resources that have proven to be quite helpful for home sellers just like you! These tools – which by the way are FREE – include:
Until next time,