According to the latest figures from the first quarter of 2015, the number of home sales were up throughout the region – as was the median sales price. What’s more – home builders reported increased optimism about their business’s future.
If you’re thinking about entering the market anytime soon as a home seller, we encourage you to continue reading to learn even more about what the latest findings show.
Data Shows That Pittsburgh Real Estate Market is Improving
Here are some of the highlights from the recent report from RealSTATS, the South Side real estate information service:
- The number of homes sold increased 6.2 percent in the first quarter
- Meanwhile, dollar volume of transactions increased 14.2 percent.
- Buyers closed on 5,402 homes in Allegheny, Beaver, Butler, Washington and Westmoreland counties during the first quarter.
- That figure was up 317 units from the first quarter of 2014, when those counties saw a total of 5,085 units closed.
- Home prices caused the total dollar volume to increase 14.2 percent to $908..9 million, compared to $796 million in 2014.
- That’s an increase of $112 million.
- The average home price for the region increased 7.5 percent in the first quarter of 2015 compared with the same period in 2014 – from $156,579 to $168,259.
- Specifically, in Allegheny County, the average home price increased from $151,909 to $165,689 in Allegheny County.
- It increased from $120,749 to $126,887 in Beaver County.
- And it increased from $169,916 to $204,334 in Washington County.
- In Westmoreland County, average home prices decreased from $139,010 to $135,030.
- And Butler County remained relatively flat – decreasing from $239,065 to $238,506.
- Also, home builders in the area saw their activity increase about 11 percent by both units and dollars.
- There were 429 new home sales in the first quarter, totaling $151.8 million. That’s up 10.9 percent and 11.4 percent, respectively, when compared to last year’s first quarter figures of 387 new homes totaling 136.3 million.
We’re Your Dedicated Pittsburgh Real Estate Experts!
We hope you found the above information as encouraging as we did here on the Pittsburgh real estate market. It’s definitely an exciting time to be navigating the market.
We have years of experience helping home sellers just like you in Pittsburgh and we would be glad to assist you as well by first helping you determine the true value of your property.
Until next time,
Century 21 Frontier Realty