Summer 2017 Real Estate Update

Happy Summer Pittsburgh!

Since it’s well into the summer2017 season, we hope you and your families have had a good one so far! We hope you’ve been keeping you busy so far with our past blogs like the Best Places to Watch Pittsburgh Fireworks for 4th of July 2017 and July 2017 Events & Festivals in Greater Pittsburgh Area. If you’ve been thinking about buying a Pittsburgh area home or selling this summer, then this blog will be a good resource for you! You can take a look at how some areas in the greater Pittsburgh area are doing and how the city of Pittsburgh overall are doing n the real estate industry.

South Hills Real Estate Market VS. PA Real Estate Market:

As these charts indicate, most areas continued to see big increases in every category, however there were some decreases as well. Peters Township saw the most dramatic increase in new listings from 31 in May this year to 53 in June 2017; while only a slight increase in sold listings from 36 in May 2017 to 39 in June 2017. Bethel Park saw a bit of a decrease in everything but the average sold price. Average days on the market saw a decrease in just about every area! So how do these stats compare to the Pennsylvania state as a whole? Here are some important facts from the Pittsburgh Business Times:

  • Closed sales volume is up 5.5% from a year ago to $1.82 billion
  • “Home listings are down .28% to 18,433 in 2017” according to the Pittsburgh Business Times.

To sum it up, directly from the article:

The number of closed sales and sales volume are strong in the western Pennsylvania’s housing market, but supply is lagging.

However don’t fret if you’re still looking to move to the greater Pittsburgh area, because it’s still marked as one of the “few affordable housing markets in the US!” If you’re looking to sell in Pittsburgh, the stats above indicate that now is the time! Pittsburgh needs housing inventory!!

Sell Your Home in Pittsburgh This Summer!

We’re here to help you sell a home in the Pittsburgh real estate market this summer 2017! Don’t hesitate to contact us to get the selling process started!

Until Next Time,

Jim

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