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Home sales brisk in SW Pa.

2 min read

PITTSBURGH – West Penn Multi-List, Inc. Thursday reported brisk home sales activity across the 13-county region it tracks across Southwestern Pennsylvania.

According to a press release from the group, the number of homes placed under agreement increased by double-digits, while average days on market decreased by double-digits versus August 2012.

A comparison of August 2012 to August 2013 data for the 13-county region the West Penn Multi-List serves shows:

• New listings increased 3.94 percent (3,425 homes versus 3,560);

• Residential homes placed under agreement increased 14.73 percent (3,327 homes versus 3,817);

• Average home sale price increased 2.64 percent ($173,324 to $177,901); and

• Average days on market decreased 12.20 percent (82 versus 72 days).

“Since housing inventory is tight in our region, homes are selling more quickly,” said George Hackett, current president of the West Penn Multi-List, Inc. and president of Coldwell Banker Real Estate Services, Pittsburgh.

When comparing January through August 2012 data with the same time period in 2013:

• New listings increased 2.58 percent (26,898 homes versus 27,592);

• Residential homes placed under agreement increased 9.08 percent (25,949 homes versus 28,306);

• Home sale price increased 2.58 percent ($167,427 to $171,744); and

• Average days on market decreased 8.33 percent (96 versus 88 days).

“With the number of homes listed for sale continuing to lag behind the number of homes placed under agreement, it points to the need for a greater supply of homes for sale in our region,” Hackett said.

The numbers represent the 13-county area serviced by the West Penn Multi-List, Inc., and include Allegheny, Armstrong, Beaver, Butler, Washington, Westmoreland, Fayette, Greene, Clarion, Lawrence, Mercer, Somerset and Indiana Counties.

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