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New home sales rise in Washington County, region

2 min read

Sales of new homes in the Pittsburgh region increased last month, reversing a recent trend, thanks partly to a rise in Washington County.

Existing home sales, however, declined regionally for a second consecutive month.

Pittsburgh-based RealStats tracks residential real estate sales data in five Southwestern Pennsylvania counties: Washington, Allegheny, Beaver, Butler and Westmoreland.

According to RealStats, builders sold 152 new homes in those counties in March, 33 more than the 119 sold in March 2013. There were 25 purchased in Washington County, up seven from 18 in 2013.

Butler County experienced the largest year-over-year increase, 16; there were 29 new home sales last month compared with 13 the previous March. The other three counties also improved: Westmoreland from eight to 16, Beaver from seven to eight and Allegheny from 73 to 74.

Across the region, buyers spent $54.6 million on new homes last month, a 38 percent increase from $39.5 million in March 2013.

The median sales price of a new home in Washington County was $337,390, a 9 percent increase from $309,598 a year earlier, and the average price increased 1 percent, from $340,715 to $344,314. The 25 new homes sold in the county last month totaled $8,607,840, a 40 percent rise from $6,132,878.

Existing homes did not sell as well throughout the region, year over year. Dollar volume fell 0.5 percent from $256.4 million to $255.2 million, and sales fell 1.4 percent from 1,823 to 1,797.

Four of the five counties, however, had more sales last month, including Washington, where 166 existing homes were purchased last month, up from 157 in March 2013. Allegheny had 58 fewer sales (1,102, down from 1,160).

Average and median prices in this category declined in Washington County this March.

The average fell from $149,017 to $142,949 (4.1 percent) and the median from $124,900 to $114,250 (8.3 percent). Dollar volume did rise, though, from $23,395,653 to 23,729,572, or 1.4 percent.

Washington County last month posted gains in all four categories pertaining to sales of all homes: number (191, up from 175); dollar volume ($32,337,412, up from $29,528,531); median price ($137,500, up from $134,000); and average price ($169,306, up from $168,734).

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