Pittsburgh Real Estate Update for June 2016

Happy July Pittsburgh!

We hope you’re all enjoying this beautiful summer weather. It’s that time again… time for the real estate update from Pittsburgh and South Hills!

South Hills of Pittsburgh Real Estate Stats

Last month sold listings in every area, according to the chart, have jumped quite a bit! However, the average sold price decreased in every area except Cecil and Upper St. Clair. The average days on the market increased in North Strabane and Upper St. Clair; decreased in Peters Township, and Cecil, and remained the same in Bethel Park. Almost every area saw a slight increase in new listings in June as well, but not as a dramatic increase as the sold listings. Peters Township saw the biggest decrease in new listings but the biggest increase in solds. Cecil also saw a big decrease in new listings and a big increase in sold listings, while most of the other areas saw a small jump in new listings according to the charts.

Pittsburgh Real Estate Stats

So, how is South Hills looking in comparison to Pittsburgh over all? Let’s take a look. According to TribLive.com, the city of Pittsburgh saw an overall decrease of 4% in home prices. Meanwhile, distressed sales—foreclosures, short sales, and bank-owned homes—in the metro area increased 1.9%, encompassing 13.7 percent of total home sales, and contributing to the overall decrease in home prices.

The Pittsburgh real estate market is healthy, though it’s headed in somewhat the opposite direction of the rest of the U.S. with prices falling rather than climbing. What does that mean for those searching for a home in the area? It means now is the time to buy, while prices are low! So don’t wait… contact the Jim Dolanch Team today and learn more about life in Pittsburgh, PA!

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The Jim Dolanch Team is on Facebook, LinkedIn, Google+, Twitter, Pinterest, YouTube, and Yelp. Be sure to follow us to get more information about local Pittsburgh events and up-to-date information about the Pittsburgh Real Estate Market! Or visit my website and let my team and I assist you in finding your next Pittsburgh home!

Until Next Time,

Jim

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