Residential Real Estate Strengthens This Summer in Western Pa.
PITTSBURGH, July 17, 2018 /PRNewswire/ -- The temperature isn't the only thing on the rise this summer. Home sales and sale prices have risen compared to last year at this time, according to West Penn Multi-List, Inc. and its monthly residential real estate report.
"The market is thriving, with home sales closing one after the other, and further listings becoming available," said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. "We have been gaining momentum over these last few months, and now the busy season is in full swing."
When comparing January-June 2018 with the same time period in 2017:
- Closed sales are up 1.35 percent (13,812 units in 2018 versus 13,628 in 2017);
- Closed sales volume is up 9.69 percent ($2,651,213,400 in 2018 versus $2,417,021,196 in 2017);
- Average sale price is up 8.23 percent ($191,950 in 2018 versus $177,357 in 2017); and
- Home listings are down 3.49 percent (20,989 units in 2018 versus 21,749 in 2017).
"Houses are not sitting for long, so buyers should have their finances in order and be prepared to compete for the house they want," said Hackett. "It's not uncommon to have multiple offers on a fairly priced house."
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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