Pittsburgh Real Estate Update for May 2016

May 2016 - Calendar, Isolated on White, Background. 3D Rendering

While the greater Pittsburgh area weather has gone up and down quite a bit this Spring 2016, the Pittsburgh Real Estate market has seen a number of steady increases. It’s been keeping The Jim Dolanch Team incredibly busy which is normal and good for this time of year! Check out the charts below to see what South Hills areas of Pittsburgh have seen some significant increases, so you know where to purchase your next Pittsburgh home!

South Hills of Pittsburgh Real Estate Stats:

Pittsburgh Real Estate Update for May 2016

While new listings have slowed a bit in almost ever area, except Cecil and Upper St. Clair (which saw a dramatic increase from April to May 2016), sold listings have seen a dramatic increase. Peters Township and Bethel Park saw the biggest jump in sold listings for relatively the same average sold price. Peters Township also saw a dramatic decrease in the number of days on the market as well. Cecil Township saw a big increase in both new and sold listings and a slight increase in average sold price from April to May 2016. If you’re wondering why everyone’s moving to Peters Township (with the steady increase of sold listings) over the past few months), take a look at our recent YouTube VideoPeters Township – Your Next Home! and don’t hesitate to contact us to find or sell your home in one of these steadily growing greater Pittsburgh areas!

Pittsburgh Real Estate Stats:

So how does the South Hills of Pittsburgh compare to the city of Pittsburgh? According to TribLive.com the following increases were seen in the city of Pittsburgh:

  • Home Sales – Increased 1.9% to 13.7%
  • Home Prices – Increased 11% (in March)

While distressed sales (foreclosures, short sales, and bank-owned homes) saw a 1.9% increase, they are still significantly lower than the national average according to TribLive.com.

TribLive.com summarized the Pittsburgh Real Estate Market for this Spring with the following quote:

“Pittsburgh is still a relatively healthy housing market, experts said, but it is headed in the opposite direction from the rest of the United States..”

So no matter where you are living in the greater Pittsburgh area, it’s clear that NOW is the time to enter into the Pittsburgh Real Estate market. Hopefully this blog has you more convinced than ever that now is the time to buy or sell your home in the greater Pittsburgh area! If it has, we hope you’ll contact The Jim Dolanch Team to assist you in the process of securing the American Dream of Homeownershhip!

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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 Pittsburgh area events, and 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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