Report: Western Pa. housing market improves from last year
PITTSBURGH – West Penn Multi-List, Inc., which released its third-quarter residential real estate report Thursday, said the region’s housing market remains stable with all key indicators up from last year at this time.
“Real estate professionals in our region have been working hard for their clients, and the latest sales numbers reflect a healthy housing market,” said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh.
When comparing January-September 2017 with the same time period in 2016:
• Closed sales are up 2.68 percent (21,605 units in 2017 versus 21,041 in 2016).
• Closed sales volume is up 5.69 percent ($3,952,418,700 in 2017 versus $3,739,595,889 in 2016);
• Average sale price is up 2.93 percent ($182,940 in 2017 versus $177,729 in 2016); and
• Home listings are up 0.14 percent (25,732 units in 2017 versus 25,697 in 2016).
“Although we have experienced a dip in home listings recently, the residential real estate market is resilient, and it continues to thrive,” said Hackett.
West Penn Multi-List provides residential real estate information for its 17-county service area – Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Greene, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango, Washington and Westmoreland counties.