Western Pennsylvania real estate is on a three-month winning streak.
West Penn Multi-List Inc. issued its July report Wednesday, stating that closed sales, sales volume, average sales price and home listings for January through June have increased from the same six-month period of 2018.
That was the third consecutive monthly report in which all four indicators were positive.
Multi-List tracks residential information for 17 counties – Fayette, Greene, Washington, Westmoreland, Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Indiana, Jefferson, Lawrence, Mercer, Somerset and Venango.
Update from here:
Figures from January through June, compared with the same time period in 2018, show:
- Closed sales were up 2.35 percent (14,134 units in 2019 versus 13,810 in 2018);
- Closed sales volume was up 7.34 percent ($2,762,462,032 versus $2,573,631,600);
- Average sale price was up 4.88 percent ($195,448 versus $186,360);
- Home listings were up 1.02 percent (21,251 units versus 21,036).
George Hackett, president of the Multi-List and of Coldwell Banker Real Estate Services, Pittsburgh, said: “The market is performing well. The conditions are favorable for both buyers and sellers, with no dramatic highs or lows in key indicators.”
“Young people are looking at Pittsburgh because the majority of houses in our region are within reach for first-time home buyers. Mortgage rates just hit their lowest point since 2016, and this trend is predicted to continue for the second half of the year.”