Nov 19, 2015 2 min read

PITTSBURGH — A Western Pennsylvania organization that trackes residential real estate sales said Thursday that homes sold quickly across the region during October.

West Penn Multi-List Inc., which follows home sales in 17 counties, including Washington and Greene also reported that the inventory of homes available for sale was down nearly 30 percent from October of 2014.

“Interest rates remain low, so we continue to see an increase in closed sales, but the number of active listings is slowly starting to dwindle,” said Ron Croushore, current president of West Penn Multi-List, and owner and chief executive officer of Berkshire Hathaway Home Services The Preferred Realty, Pittsburgh.

A comparison of October 2015 and October 2014 data shows:

• New listings increased 3.3 percent (3,709 in October 2015 versus 3,587 in October 2014);

• Closed sales increased 4.6 percent (2,396 in October 2015 versus 2,285 in October 2014);

• Average sales price increased 7.3 percent ($176,000 in October 2015 versus $164,000 in October 2014); and

• Inventory levels decreased 28.9 percent (15,788 listings active in October 2015 versus 22,198 in October 2014).

“While these key indicators show the housing market remains healthy, we still need to continue to replenish our inventory of homes throughout the rest of the year,” Croushore said.

West Penn Multi-List tracks home sales in Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Greene, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango, Washington and Westmoreland counties.