It was a fantastic month for Pittsburgh area home buyers, according to the most recent data available on the real estate website Trulia.

Not only did the average price per square foot decrease on Pittsburgh residential properties but so did the median sales price.

This is great news for those Pittsburgh home buyers interested in purchasing a Pennsylvania home for a bargain price.

Continue reading to learn more about these recent development on the local housing market.

Pennsylvania Properties for Sale

Here’s an overview of the current state of the Pittsburgh housing market, based on the most recent data:

  • Currently, there are 3,049 homes for sale, including 821 in some stage of the foreclosure process.
  • Between October and December, the average price per square foot for a Pittsburgh home was $87, down 65.3 percent when compared to the same period in 2010.
  • During that same period in 2011, the median sales price for homes was $120,000, bsed on 959 sales.
  • Compared with 2010, the median sales price has decreased by 3.4 percent and the number of home sales has decreased by 9.4 percent.
  • During the week ending on January 11, the median sales price for a 1-bedroom Pittsburhg home was $65,750
  • The median sales price for a 2-bedroom home was $90,906
  • And the median sales price for 3- and 4- bedroom homes were $113,750 and $203,788 respectively.
  • Here’s how nearby communities compared in terms of median sales price:

West Mifflin: $69,500
Dravosburg: $53,000
Glassport:$72,000
West Homestead: $29,700
Munhall: $52,000
Homestead: $82,000

  • During the week ending on January 11, the average listing price for Pittsburgh homes was $219,069.
  • Compared with the previous week, the average listing price increased by 0.7 percent.
  • Here’s how nearby communities compared in terms of average listing price:

West Mifflin: $98,868
Dravosburg: $56,437
Glassport: $57,035
West Homestead: $80,700
Munhall: $92,092
Homestead: $95,177

Your Pittsburgh Real Estate Expert

As you can see, current market conditions are ideal for buying a home in the Pittsburgh area!

So if you’re ready to take that next step toward home ownership, be sure to contact me, Jim Dolanch, your Pittsburgh REALTOR, today.

I’ll be happy to answer any questions you may have as well as provide you with such helpful Pittsburgh relocation resources as:

Until next time,

Jim