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It’s a seller’s market as home sales, sales prices rise, Multi-List says

2 min read
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It is a seller’s market as home sales and sales prices have increased significantly over the past year, according to the monthly residential real estate report of West Penn Multi-List.

Multi-List president George Hackett, who also is president of Coldwell Banker Real Estate Services, Pittsburgh, said in a prepared statement: “The appreciation in home sales in our region is unprecedented. The residential real estate market in Pittsburgh is usually slow and steady, but business is booming right now.”

Figures for the January-April period compared with the same months of 2017 show:

  • Clo
  • sed sales are up 0.71 percent (7,757 units
  • from 7,702);
  • Closed sales volume is up 9.55 percent ($1,425,434,077 from $1,301,229,794);
  • Average sales price is up 8.77 percent ($183,761 in 2018 from $168,947);

• Home listings are down 7.74 percent (12,354 units from 13,390).

“With interest rates low and home prices up significantly, now is the ideal time to sell a house,” Hackett said.

West Penn Multi-List tracks residential real estate information in 17 counties: Washington, Greene, Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango and Westmoreland.

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