Report: Washington County home sales increase in 3Q
Homebuyers in Washington County were in a spending mood during the third quarter of 2015, according to a report released Tuesday by Pittsburgh-based RealStats, which follows new and existing residential sales in five Western Pennsylvania counties.
According to the company, through the three quarters of this year, the average home price in Washington County climbed 10.8 percent. Sales volume also jumped over the nine-month period here, rising $49.2 million or 37.4 percent since the beginning of the year.
The county’s sales figures mirrored the uplifting performance of RealStats’ five-county coverage area, which also includes Allegheny, Beaver, Butler and Westmoreland.
According to RealStats, homebuyers doled out $1.827 billion to acquire homes in the five counties in the third quarter, which was $265 million more than in the third quarter of 2014, a 17 percent increase over the $1.562 billion spent in the third quarter last year.
The number of homes sold increased 11.6 percent in the region, from 8,497 homes in 2014 to 9,480 this year, an increase of 983 homes.
Through three quarters, dollar volume increased 14.7 percent from $3.727 billion to $4.273 billion, while unit sales were up 8.8 percent from 21,254 to 23,122.
Locally, Washington County saw the average home price climb 10.8 percent from $187,438 to $207,663 over the three quarters of 2015.
The average price of an existing home was $184,729, which was $13,338 higher than the average home price at the end of 3Q 2014.
There were 756 units sold here, 139 more than the comparable period of a year ago. Total dollar volume of $139,655,346 for existing homes was $34 million more than this time last year.
Realtors also sold 97 new homes here during the third quarter, 32 more units than were sold in 3Q 2014. The total dollar volume for new home sales was $41,379,044, far above the $26,056,565 tallied from a year ago. The average price for a new home in the third quarter here was $426,588, or nearly $26,000 more than in the third quarter of the previous year.
Based in Pittsburgh, RealStats bases its reports on data from recorded sales of new and existing homes, townhomes and condos with a price of at least $10,000.