Home Sales in Western Pa. Improve from Last Year
PITTSBURGH, Oct. 24, 2018 /PRNewswire/ -- Home sales, sale price and the demand for homes are on the rise, according to West Penn Multi-List, Inc. and its monthly residential real estate report.
"We have seen home prices rise and inventory dip over the past year," said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. "With home prices on the rise, our market still boasts plenty of affordable homes for sale, even for first-time buyers."
When comparing January-September 2018 with the same time period in 2017:
- Closed sales are up 3.58 percent (19,778 units in 2018 versus 19,095 in 2017);
- Closed sales volume is up 10.90 percent ($3,857,422,008 in 2018 versus $3,478,249,725 in 2017);
- Average sale price is up 7.07 percent ($195,036 in 2018 versus $182,155 in 2017); and
- Home listings are down 3.13 percent (28,174 units in 2018 versus 29,085 in 2017).
"Competition for homes remains fierce among potential homebuyers," said Hackett. "If you're serious about purchasing a home, connect with a real estate professional who will keep you informed of listings in your desired area as soon as they become available."
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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