The residential real estate industry in Western Pennsylvania continues to go strong, West Penn Multi-List Inc. said in issuing its May report this week.

Multi-List reported that closed sales, volume of sales, average sales price and home listings for the first four months of the year have increased from the same period of 2018.

Multi-List tracks residential information for 17 counties – Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Greene, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango, Washington and Westmoreland.

Figures from January through April, compared with the same time period in 2018, show:

  • Closed sales were up 3.29 percent (8,010 units in 2019 versus 7,755 in 2018);
  • Closed sales volume was up 3.80 percent ($1,479,086,550 versus $1,424,880,435);
  • Average sale price was up 0.50 percent ($184,655 versus $183,737);
  • Home listings were up 1.76 percent (12,645 units versus 12,426).

“The residential real estate conditions in Western Pennsylvania are favorable, so investing in a home now is a safe move,” George Hackett, president of West Penn Multi-List Inc. and of Coldwell Banker Real Estate Services, Pittsburgh, said in a statement.

“With affordable housing prices, low interest rates and high demand for homes, buyers should feel confident the home they purchase now will retain its value.”

The residential real estate conditions in Western Pa. are favorable, so investing in a home now is a safe move,” said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. “With affordable housing prices, low interest rates and high demand for homes, buyers should feel confident the home they purchase now will retain its value.”

“The residential real estate conditions in Western Pa. are favorable, so investing in a home now is a safe move,” said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. “With affordable housing prices, low interest rates and high demand for homes, buyers should feel confident the home they purchase now will retain its value.”

Business Writer

Rick Shrum joined the Observer-Reporter as a reporter in 2012, after serving as a section editor, sports reporter and copy editor at the Pittsburgh Post-Gazette. Rick has won eight individual writing awards, including two Golden Quills.

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