PITTSBURGH, Dec. 18, 2018 /PRNewswire/ -- Western Pa. enjoys an uptick in home sales compared to last year at this time, according to West Penn Multi-List, Inc. and its monthly residential real estate report.
"This time of year, many people are thinking about buying holiday gifts for their family, but I think it's a great time to buy a house," said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. "As we move into the winter season, which is typically slower for real estate, people have more time to make well-informed decisions related to buying and selling a home."
When comparing January-November 2018 with the same time period in 2017:
- Closed sales are up 2.77 percent (24,559 units in 2018 versus 23,898 in 2017);
- Closed sales volume is up 9.40 percent ($4,759,460,523 in 2018 versus $4,350,463,614 in 2017);
- Average sale price is up 6.46 percent ($193,797 in 2018 versus $182,043 in 2017); and
- Home listings are down 2.28 percent (31,611 units in 2018 versus 32,348 in 2017).
"There are benefits to buying at year's end such as writing off some expenses related to the purchase of a home on your 2018 taxes," said Hackett. "With less real estate activity in the winter, there are fewer buyers to compete with, and your real estate agent will work harder for you."
Statistical data in this report is supplied by West Penn Multi-List, Inc., the definitive source for 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. For more information, visit http://www.westpennmls.com/.
CONTACT: Maegen Laney Noble
[email protected]
904.451.2644
SOURCE West Penn Multi-List, Inc.
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